Lot # : 1 - Boone Co. - 90.6 Acres

Tract 7 will have a starting bid of $200,000 with bid increments of $2,000. The multiplier will be the Gross Assessed acres shown in the green bar on each tract times final bid This is a RESERVE Auction and all final bids will be presented to the owners and their advisors to decide whether to accept the top bid. The family has every intention to sell the properties but they have the right to reject any and all bids. The final top bidder(s) will be contacted by Gannon Real Estate within 48 hours to report the owner’s decisions. If approved, the buyer will be contacted to sign a purchase agreement and deliver a cashier’s check or wire transfer made out to the Gannon RE Trust account for 10% of the final total bid amount. Real Estate taxes will be prorated to closing. Closing will be on or before May 5, 2023 but we could accommodate timing for 1031 exchanges if they are approved ahead of March 23. The farmland is leased for the 2023 crop season for $220/tillable acre paid 10/23. Full possession will be on 3/1/24. The buyers will be responsible to contact the tenant and make arrangements for payment. The farm can be accessed for fall field work after harvest. Xenia Rural Water is available. This is a cash sale and not subject to financing. Buyers should have fully inspected the property and be comfortable with accepting the property as-is at the time of the sale. The owner has the right to change the terms or withdraw the offering prior to the ending of the auction time period. Please do not walk or access the property without getting permission from Mark Gannon. Owners are the heirs to the Paul Jensen Estate and ask that no one contact them about the sale. Please call Mark Gannon with any questions or concerns.