Online Only Auction
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Date(s)
12/8/2023 - 12/12/2023
Bidding Notice:

Bidding opens at 8:00 AM on 12/8/23 & starts ending at 10 AM on December 12 with possible extensions until a final price is reached. Closing date on or before January 24th, 2024.


Information
Lot # 1
Group - Category Real Estate - Ag / Farm Land
Lead South Boone LC | 75.81 Acres | 86.9 CSR2
Description
We are pleased to offer an excellent 75.81 acres in SW Boone County for sale on an online auction that will end on December 12, 2023. The land has a 86.9 CSR2 and reasonably well tiled with a good yield history. The land is 1.75 miles east of Hwy 169 on the south side of 320th Street. The drainage on the farm runs three directions and doesn't take any water from the neighbors. There is a field entrance in that corner but also a new larger one in the middle of the farm on the north.
Name South Boone LC | 75.81 Acres | 86.9 CSR2
Auctioneer
Type Online-Only Auction
Date(s) 12/8/2023 - 12/12/2023
Auction Date/Time Info
Bidding opens at 8:00 AM on 12/8/23 & starts ending at 10 AM on December 12 with possible extensions until a final price is reached. Closing date on or before January 24th, 2024.
Location
Description
We are pleased to offer an excellent 75.81 acres in SW Boone County for sale on an online auction that will end on December 12, 2023. The land has a 86.9 CSR2 and reasonably well tiled with a good yield history. The land is 1 mile west of Hwy 169 on the south side of 320th Street. The drainage on the farm runs three directions and doesn't take any water from the neighbors. There is a field entrance in that corner but also a new larger one in the middle of the farm on the north. CSR 2: 86.9 Gross Acres: 75.81 Net Acres: 75.81 Annual Taxes: $2,972 Brief Legal Description: W 1/2 of the NW 1/4 Except Parcel A of 25-82-28 Boone Co. IA
Online Auction Only Auction Sale Period: December 8 - December 12, 2023 Auction Site Link: www.gannonre.com/online-auctions/ Bidding opens at 8:00 AM on 12/8/23 & starts ending at 10 AM on December 12 with possible extensions until a final price is reached. Closing date on or before January 24th, 2024. The bidding will end at 10 am on December 12, 2023 unless there is a bid in the last 5 minutes before the ending time. If so, the bidding will be extended another 5 minutes and so on until a final price per acre is determined. Bid increments will be $100/acre on a starting bid of $12,000/acre. The multiplier will be the 75.81 Net acres. 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 January 24, 2024 but we could accommodate timing for 1031 exchanges if they are approved ahead of December 12, 2023. The farm lease is canceled and open for the 2024 crop year. Farm yields and soil tests are available upon request. The farm had a 216 bu/acre corn yield in 2023. Tile maps are available for the south end of the farm. The NE corner area was explored for tile, then repairs were made plus an extension added in the fall of 2022. Xenia Rural Water is available. The Farm Service Information is provided by the Boone County FSA. 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 drive on the property in wet conditions that would create ruts without getting permission from Mark Gannon. Owners are the heirs of Robert and Bertlyn Johnston. Please call Mark Gannon with any questions or concerns. Gannon Real Estate has managed the land for many years. The property is being offered as an online only auction and we expect a strong internet connection on our end. The potential buyers should also make sure they also have a good internet connection. If there are any issues on the broker’s end then there will need to be a decision made at that time to delay or postpone the offering. We have never had to do that but want to make sure everyone has a chance to bid and all goes well. After the bidding is ended we will confirm with the bidding platform provider to confirm a satisfactory event and final bid. The sale is subject to all easements, covenants and restrictions of record. The property is sold “as is - where is” basis with no warranties expressed or implied by Gannon RE & Consulting. All fences, if any are in as-is condition and assumed to be on the property lines but this is not guaranteed. The property will not be surveyed. All bids are on a price per acre amount times 75.81 acres. All bidders are representing themselves as they are registered to bid with no assignments of the contract allowed prior to closing without the permission of the Sellers. No phone bids will be accepted without prior approval. All bidders must be registered on the website to bid. If you need assistance/help please contact: Patrick Gannon 515.290.3427 patrick@gannonre.com
Your bid must adhere to the bid increment schedule.
Bid Amount Bid Increment
0.00 - 9,999,999.00 100.00 USD
Currency USD
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.