160± Acres – Sells in 1 Tract

OEFFA Certified Organic!
Buyer to Receive 100% of the Cash Rent for the farm year commencing March 1, 2025 and ending February 28, 2026!

 160± Acres

•        FSA indicates: 131.42 cropland acres.
•        Corn Suitability Rating 2 is 54.5 on the cropland acres.
•        OEFFA certified organic on 108 acres.
•        Balance of land includes 2 ponds, timber draws and a 40’x50’ barn. 
•        Rathbun rural water pit on property.  Stock water tank is fed from the pond, has not be used in several years.
•        Located in Section 12, Cleveland Township, Davis County, Iowa.
•        Tax Parcel: 02013120 = $3,836.00 Net
•        Not included: Tenant’s hay bales & farm equipment.
•        View FSA 156 EZ Form, FSA Field Map
•        View Soil Map
•        View Revised Contract Purchase Agreement

Terms: 10% down payment due on March 25, 2025. Balance due at final settlement/closing with a projected date of May 9, 2025, upon delivery of merchantable abstract and deed and all objections having been met.
Landlord’s Possession: Projected date of May 9, 2025 (Subject to tenant’s rights on the tillable land for the 2025-2026 farming season, full possession March 1, 2026).
Real Estate Taxes: To be prorated to date of landlord’s possession on the basis of the last available tax statement. Seller shall pay any unpaid real estate taxes payable in prior years.

Special Provisions:

•        This real estate auction will have a 5% buyer’s premium. This means the buyer’s premium in the amount of five percent (5%) of the bid amount shall be charged to the Buyer and added to the bid amount to arrive at the total contract purchase price.
•        If a bid is placed with less than 4 minutes left, the time on the auction will extend another 4 minutes. This will continue until no bids are placed within the last 4 minutes.
•        Down payment is due on the day the bidding closes, and signing of the real estate contracts will take place through email and electronic document signatures. In the event the auction bidding closes after 3:00pm, the down payment/earnest money will be due the following business day.
•        Land is selling subject to tenant’s rights on the tillable land for the 2025-2026 farming season (March 1, 2025-February 28,2026).  Buyer will receive the first half cash rent payment of $14,000 as a credit at final settlement/closing.  Buyer will receive the second half cash rent payment of $14,000 from the tenant, due September, 2025.
•        Seller has given tenant notice of termination of the farm tenancy prior to September 1, 2025, therefore Buyer will have full possession on March 1, 2026.
•        It shall be the obligation of the Buyer to report to the appropriate County FSA office and show filed deed in order to receive the following if applicable: A. Allotted base acres. B. Any future government programs.
•        Land will be sold on a price per acre basis, with Davis County Assessor gross acres of 160 being the multiplier used to determine the total bid amount.
•        The Seller is not required to provide a survey of the property.  If the Buyer chooses to obtain a survey, the cost of the survey will be the Buyer’s responsibility.  The total contract purchase price will not be adjusted to reflect any differences between the surveyed acres and acres stated.
•        This auction sale is not contingent upon Buyer’s financing, appraisal(s), or any other Buyer contingencies.
•        If a Buyer is unable to close due to insufficient funds or otherwise, Buyer will be in default and the deposit money will be forfeited and paid to Seller.
•        The Buyer shall be responsible for any fencing in accordance with state law.
•        The Buyer shall be responsible for installing his/her own entrances if needed or desired.
•        If in the future a site clean-up is required, it shall be at the expense of the Buyer.
•        All mineral rights, if any, held by Seller will be transferred to Buyer upon closing.
•        This real estate is selling subject to any and all covenants, restrictions, encroachments, easements, rights-of-way, ordinances, resolutions, leases, and mineral reservations, as well as all applicable zoning laws.
•        All lines, drawings, boundaries, dimensions and descriptions are approximations only based upon the best information available and are subject to possible variation. Sketches may not be drawn to scale and photographs may not depict the current condition of the property. Bidders should inspect the property and review all the pertinent documents and information available, as each bidder is responsible for evaluation of the property and shall not rely upon the Seller, Broker or Auctioneer, their Employees or Agents.
•        The Buyer acknowledges that they have carefully and thoroughly inspected the real estate and are familiar with the premises. The Buyer is buying this real estate in its "as is" condition and there are no expressed or implied warranties pertaining to the real estate.
•        Steffes Group, Inc. is representing the Seller.  Bidder acknowledges they are representing themselves in this real estate transaction.
•        Any announcements published or made the day of auction take precedence over advertising.