Live Webcast Auction
Click Main Image For Fullscreen Mode
Price Realized:
12,100.00 USD
Shipping Not Available
Price Realized 12,100.00 USD
Date Sold 2023-12-29T00:00:00
Date(s)
12/29/2023
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.

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. All bids will be on a per acre basis.


Information
Lot # 1
Group - Category Real Estate - Ag / Farm Land
Lead Franklin County Iowa Land Auction, 96 Acres M/L
Description
DESCRIPTION: 134 acres m/l to be offered in two individual tracts at auction on Friday, December 29th, 2023, at 10:00 A.M. Tract #1 consists of 96 acres m/l, of which there are 94.47 taxable acres m/l and 94.86 cropland acres m/l. Tract #2 consists of 38 acres m/l, of which there are 36.52 taxable acres m/l and 37.56 cropland acres m/l. Tract #1 has an average CSR2 of 83.1 and Tract #2 has an average CSR2 of 77.9, with the county average CSR2 being 79.4. DIRECTIONS: From Latimer, Iowa, go west on State Highway #3 to Jonquil Avenue, then north on Jonquil Avenue 1/4 mile. Tract #1 is located on the west side of Jonquil Avenue, with Tract #2 being located on the east side of Jonquil Avenue. Please watch for real estate signs. TRACT #1 LEGAL DESCRIPTION: (96 Acres M/L) Southwest Quarter of the Northeast Quarter (SW1/4 NE1/4), Except Parcel #0628200007; Northwest Quarter of the Southeast Quarter (NW1/4 SE1/4), North of RR; Northeast Quarter of the Southeast Quarter (NE1/4 SE1/4), North of the RR, Except Parcel #0628200007, all in Section Twenty-eight (28), Township Ninety-two (92) North, Range Twenty-one (21), West of the 5th P.M., Franklin County, Iowa. Please refer to abstract or a survey for the exact legal description. FARM PROGRAM INFORMATION: Cropland: 94.86 acres Corn Base: 53 acres PLC Yield: 151 bu. (Est) Bean Base: 41 acres PLC Yield: 46 bu. (Est) This farm is classified as Non-Highly Erodible Land. No Wetlands Determination is complete at this time. PROPERTY TAXES: $3,018/year. Property taxes will be prorated to date of closing. IMPROVEMENTS: Improvements are field drainage tile and perimeter fence. TRACTS #1 & #2-FARM LEASE: The subject property is open for 2024. Sellers to retain 100% of the 2023 crop income or cash rent on the property.
Name Franklin County Iowa Land Auction, 134 Acres M/L
Auctioneer
Type Live Webcast Auction
Date(s) 12/29/2023
Auction Date/Time Info
Friday, December 29, 2023 at 10:00 AM
Checkout Date/Time Friday, December 29, 2023
Location
Buyer Premium No Buyers Premium
Description
DESCRIPTION: 134 acres m/l to be offered in two individual tracts at auction on Friday, December 29th, 2023, at 10:00 A.M. Tract #1 consists of 96 acres m/l, of which there are 94.47 taxable acres m/l and 94.86 cropland acres m/l. Tract #2 consists of 38 acres m/l, of which there are 36.52 taxable acres m/l and 37.56 cropland acres m/l. Tract #1 has an average CSR2 of 83.1 and Tract #2 has an average CSR2 of 77.9, with the county average CSR2 being 79.4. DIRECTIONS: From Latimer, Iowa, go west on State Highway #3 to Jonquil Avenue, then north on Jonquil Avenue 1/4 mile. Tract #1 is located on the west side of Jonquil Avenue, with Tract #2 being located on the east side of Jonquil Avenue. Please watch for real estate signs. TRACT #1 LEGAL DESCRIPTION: (96 Acres M/L) Southwest Quarter of the Northeast Quarter (SW1/4 NE1/4), Except Parcel #0628200007; Northwest Quarter of the Southeast Quarter (NW1/4 SE1/4), North of RR; Northeast Quarter of the Southeast Quarter (NE1/4 SE1/4), North of the RR, Except Parcel #0628200007, all in Section Twenty-eight (28), Township Ninety-two (92) North, Range Twenty-one (21), West of the 5th P.M., Franklin County, Iowa. Please refer to abstract or a survey for the exact legal description. FARM PROGRAM INFORMATION: Cropland: 94.86 acres Corn Base: 53 acres PLC Yield: 151 bu. (Est) Bean Base: 41 acres PLC Yield: 46 bu. (Est) This farm is classified as Non-Highly Erodible Land. No Wetlands Determination is complete at this time. PROPERTY TAXES: $3,018/year. Property taxes will be prorated to date of closing. IMPROVEMENTS: Improvements are field drainage tile and perimeter fence. TRACT #2 LEGAL DESCRIPTION: (38 Acres M/L) Northwest Quarter of the Southwest Quarter (NW1/4 SW1/4), North of the RR, all in Section Twenty-seven (27), Township Ninety-two (92) North, Range Twenty-one (21), West of the 5th P.M., Franklin County, Iowa. Please refer to abstract or a survey for the exact legal description. FARM PROGRAM INFORMATION: Cropland: 37.56 acres Corn Base: 19 acres PLC Yield: 151 bu. (Est) Bean Base: 15 acres PLC Yield: 46 bu. (Est) This farm is classified as Non-Highly Erodible Land. No Wetlands Determination is complete at this time. This tract has 3.35 acres of CRP that pays $372.50/acre or $1,248/yr until 2025. PROPERTY TAXES: $1,094/year. Property taxes will be prorated to date of closing. IMPROVEMENTS: Improvements are field drainage tile and perimeter fence. TRACTS #1 & #2-FARM LEASE: The subject property is open for 2024. Sellers to retain 100% of the 2023 crop income or cash rent on the property.
SALE METHOD: This property will be offered as 2 tracts of 96 acres m/l and 38 acres m/l. The two tracts will not be combined. 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 February 15, 2024, 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 February 15, 2024. 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. 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. ATTORNEY: John Lander SELLERS: Lorraine Borcherding Trust 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 - 900.00 100.00 USD
900.01 - 9,900.00 100.00 USD
9,900.01 - 99,000.00 100.00 USD
99,000.01 - 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 February 15, 2024, 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 February 15, 2024. 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.