Live Webcast Auction
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Price Realized:
13,300.00 USD
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Price Realized 13,300.00 USD
Date Sold 2023-10-31T00:00:00
Date(s)
10/31/2023
Bidding Notice:

BIDDER REGISTRATION: All prospective bidders must register with the auction company and receive a bidder’s number in order to bid at the auction. All bids will be on a per acre basis.

Auction Notice:

ONLINE BIDDING: Please visit our website to register for online bidding. Mid Iowa Real Estate, Auctions, & Appraisals cannot be held liable for any technical difficulties relating to the server, software, internet, or other online auction-related technologies. Bidders shall have no claims against the auction company or Sellers if their bids are not accepted.


Information
Lot # 1
Group - Category Real Estate - Ag / Farm Land
Lead Franklin County Iowa Land Auction, 148 Acres M/L
Description
DESCRIPTION: 148 acres m/l to be offered at auction on Tuesday, October 31st, 2023, at 12:00 P.M. This property consists of 148 acres m/l, of which there are approximately 133.57 taxable acres and 138.99 cropland acres m/l. This tract has an average CSR2 of 84.5, with the Franklin County average CSR2 being 80.7. DIRECTIONS: From Chapin, Iowa, go west on County Blacktop C-23 approximately 1/2 mile. The subject property is located on the north side of County Blacktop C-23 and the east side of Nettle Ave. Please watch for real estate signs. LEGAL DESCRIPTION: (148 Acres M/L) Southwest Quarter (SW1/4) of Section Twenty-nine (29), Township Ninety-three (93) North, Range Twenty (20), West of the 5th P.M., Franklin County, Iowa, Except Parcel “0329300006” in the SE1/4 SE1/4. Please refer to abstract for the exact legal description. FARM PROGRAM INFORMATION: Cropland: 138.99 acres Corn Base: 137.29 acres PLC Yield: 154 bu. Bean Base: 1.70 acres PLC Yield: 51 bu. This farm is classified as Non-Highly Erodible Land. No Wetlands Determination is complete at this time. FARM LEASE: The subject property is rented for the 2023 crop year. The sellers will retain 100% of the cash rent or crop income for the 2023 crop year. The lease for 2024 has been terminated. PROPERTY TAXES: $4,704/year. Property taxes will be prorated to date of closing. IMPROVEMENTS: Improvements are field drainage tile and perimeter fence.
Name Franklin County Iowa Land Auction, 148 Acres M/L
Auctioneer
Type Live Webcast Auction
Date(s) 10/31/2023
Auction Date/Time Info
Tuesday, October 31, 2023 at 12 PM
Checkout Date/Time Tuesday, October 31, 2023
Location
Buyer Premium No Buyers Premium
Description
DESCRIPTION: 148 acres m/l to be offered at auction on Tuesday, October 31st, 2023, at 12:00 P.M. This property consists of 148 acres m/l, of which there are approximately 133.57 taxable acres and 138.99 cropland acres m/l. This tract has an average CSR2 of 84.5, with the Franklin County average CSR2 being 80.7. DIRECTIONS: From Chapin, Iowa, go west on County Blacktop C-23 approximately 1/2 mile. The subject property is located on the north side of County Blacktop C-23 and the east side of Nettle Ave. Please watch for real estate signs. LEGAL DESCRIPTION: (148 Acres M/L) Southwest Quarter (SW1/4) of Section Twenty-nine (29), Township Ninety-three (93) North, Range Twenty (20), West of the 5th P.M., Franklin County, Iowa, Except Parcel “0329300006” in the SE1/4 SE1/4. Please refer to abstract for the exact legal description. FARM PROGRAM INFORMATION: Cropland: 138.99 acres Corn Base: 137.29 acres PLC Yield: 154 bu. Bean Base: 1.70 acres PLC Yield: 51 bu. This farm is classified as Non-Highly Erodible Land. No Wetlands Determination is complete at this time. FARM LEASE: The subject property is rented for the 2023 crop year. The sellers will retain 100% of the cash rent or crop income for the 2023 crop year. The lease for 2024 has been terminated. PROPERTY TAXES: $4,704/year. Property taxes will be prorated to date of closing. IMPROVEMENTS: Improvements are field drainage tile and perimeter fence.
SALE METHOD: This tract will be offered as an individual tract of 148 acres m/l. MINERALS: All mineral interests owned by the Seller, if any, will be conveyed to the Buyer. EARNEST PAYMENT: A 15% earnest money payment is required on the day of the auction. The earnest payment may be paid in the form of cash or check. All funds will be held in the named attorney’s trust account. POSSESSION: Possession will be granted at closing, on or about December 15, 2023, subject to the current cash rent lease and current tenant’s rights for the 2023 crop year. CONTRACT AND TITLE: Immediately upon conclusion of the auction the high bidder will enter into a real estate contract and deposit with Mid Iowa Real Estate, Auctions, & Appraisals the required earnest payment. The Seller will provide a current abstract at their expense. Sale is not contingent upon buyer financing. Seller to pay all escrow closing costs. CLOSING: Closing will occur on or about December 15, 2023. The balance of the purchase price will be payable at closing in cash, guaranteed check, or wire transfer. SURVEY: At the Seller’s option, the Seller shall provide a new survey where there is not an existing legal or where new boundaries are created. The Seller will be responsible for any survey costs. BIDDER REGISTRATION: All prospective bidders must register with the auction company and receive a bidder’s number in order to bid at the auction. All bids will be on a per acre basis. ONLINE BIDDING: Please visit our website to register for online bidding. All bids will be on a per acre basis. Mid Iowa Real Estate, Auctions, & Appraisals cannot be held liable for any technical difficulties relating to the server, software, internet, or other online auction-related technologies. Bidders shall have no claims against the auction company or Sellers if their bids are not accepted. ATTORNEY: Brian Miller SELLERS: Marianne Armento Estate This sale is subject to all easements, covenants, leases and restrictions of record. All property is sold on an “As is—Where is” basis with no warranties or guarantees, expressed or implied, made by the Realtor or Seller. All potential buyers are urged to perform their due diligence on the subject property prior to the auction. All map boundaries are approximate, and photographs used may or may not depict the actual property. Total tract acres, tillable acres, FSA acres, etc. are approximate and may be subject to change. All bids will be on a per acre basis Seller reserves the right to accept or reject any and all bids. Mid Iowa Real Estate, Auctions, & Appraisals and its representatives are agents of the Seller. Winning bidder acknowledges that they are representing themselves in completing the auction sales transaction. Any announcements made auction day by the Auctioneer will take precedence over any previous material or oral statements. Bidding increments are at the sole discretion of the Auctioneer. No absentee or phone bids will be accepted at the auction without prior approval of the Auctioneer. All decisions of the Auctioneer are final.
Your bid must adhere to the bid increment schedule.
Bid Amount Bid Increment
0.00 - 5,000.00 100.00 USD
5,000.01 - 10,000.00 100.00 USD
10,000.01 - 90,000.00 100.00 USD
90,000.01 - 9,999,999.99 100.00 USD
Currency USD
Buyer Premium No Buyers Premium
Payment Terms
EARNEST PAYMENT: A 15% earnest money payment is required on the day of the auction. The earnest payment may be paid in the form of cash or check. All funds will be held in the named attorney’s trust account.
POSSESSION: Possession will be granted at closing, on or about December 15, 2023, subject to the current cash rent lease and current tenant’s rights for the 2023 crop year. CONTRACT AND TITLE: Immediately upon conclusion of the auction the high bidder will enter into a real estate contract and deposit with Mid Iowa Real Estate, Auctions, & Appraisals the required earnest payment. The Seller will provide a current abstract at their expense. Sale is not contingent upon buyer financing. Seller to pay all escrow closing costs. CLOSING: Closing will occur on or about December 15, 2023. The balance of the purchase price will be payable at closing in cash, guaranteed check, or wire transfer.
Notice: Financing terms available may vary depending on applicant and/or guarantor credit profile(s) and additional approval conditions. Assets aged 10-15 years or more may require increased finance charges. Financing approval may require pledge of collateral as security. Applicant credit profile including FICO is used for credit review. Commercial financing provided or arranged by Express Tech-Financing, LLC pursuant to California Finance Lender License #60DBO54873. Consumer financing arranged by Express Tech-Financing, LLC pursuant to California Finance Lender License #60DBO54873 and state licenses listed at the this link. Consumer financing not available for consumers residing in Alaska, Louisiana, Nevada, Ohio, Vermont, Hawaii, or Wisconsin. Additional state restrictions may apply. Equal opportunity lender.