Lot # : 1 - Adair County Iowa Land Auction, 40 Acres M/L

Live Webcast Auction
Adair County Iowa Land Auction, 40 Acres M/L
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Bridgewater, IA 50126
Date(s)
11/23/2024
AUCTIONEER INFORMATION
Catalog
Adair County Iowa Land Auction, 40 Acres M/L
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. Seller reserves the right to accept or reject any and all bids.

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. ... Show More

Information
Lot # 1
Group - Category Real Estate - Ag / Farm Land
Lead Adair County Iowa Land Auction, 40 Acres M/L
Description
DESCRIPTION: 40 acres m/l to be offered at auction on Saturday, November 23rd, 2024, at 11:00 A.M. This property consists of 40 acres m/l, of which there are 38 taxable acres m/l and 31.71 cropland acres m/l. This tract has an average CSR2 of 53.3, with the Adair County average CSR2 being 64. Two small ponds are on the property. DIRECTIONS: From Greenfield, Iowa, go south on Highway #25 to County Highway G-61, then west on G-61 to Fallow Avenue, then south on Fallow Avenue approximately 2 miles. The subject property is located on the east side of Fallow Avenue. From Bridgewater, Iowa, go south on County Highway N-51 to County Highway G-61, then east to Fallow Avenue, then south on Fallow Avenue approximately 2 miles. The subject is located on the east side of Fallow Avenue. Please watch for real estate signs. LEGAL DESCRIPTION: (40 Acres M/L) Southwest Quarter of the Southwest Quarter (SW1/4 SW1/4), all in Section Twenty-five (25), Township Seventy-four (74) North, Range Thirty-three (33), West of the 5th P.M., Adair County, Iowa. Please refer to abstract for the exact legal description. HUNTING CABIN: There is a 30’ x 40’ hunting cabin located on the premises. A 8’ x 40’ porch is located on the east side and the exterior is metal. The cabin has rural water with a newer septic system. There is a 3/4 bath along with a full kitchen. The interior is finished in pine logs and has an epoxy-coated concrete floor. This entire cabin has the open concept design, newer slider windows, electric baseboard heat, is very well constructed, well maintained, and will come furnished with a refrigerator, stove, beds, couch, etc. Cabin and contents are being sold “As Is”. Please see our website for photos. OPEN HOUSE: 1509 330TH STREET, BRIDGEWATER, IOWA November 9, 2024 from 10:00 AM to 1:00 PM November 23, 2024 from 9:00 AM to 10:00 AM Please call for a showing at an alternate time, if necessary. FARM PROGRAM INFORMATION: Cropland: 31.71 acres Corn Base: 4.1 acres PLC Yield: 107 bu. Bean Base: 3.07 acres PLC Yield: 40 bu. This farm is classified as Highly Erodible Land. No Wetlands Determination is complete at this time. This property does have 2 CRP contracts with 17.3 acres bid in at $242.16/acre or $4,189/year until 2032 with the other contract having 7.24 acres bid in at $247.29/acre or $1,790/annually until 2027. The CRP payments will be prorated to the date of closing. FARM LEASE: The subject property has no farm lease for the balance of the tillable land. IMPROVEMENTS: Improvements other than the cabin are field drainage tile and perimeter fence. PROPERTY TAXES: $1,238/year. Property taxes will be prorated to date of closing.
Name Adair County Iowa Land Auction, 40 Acres M/L
Auctioneer
Mid Iowa Real Estate, Auctions & Appraisals
Type Live Webcast Auction
Date(s) 11/23/2024
Auction Date/Time Info
Saturday, November 23, 2024 at 11:00 AM
Preview Date/Time OPEN HOUSE: 1509 330TH STREET, BRIDGEWATER, IOWA November 9, 2024 from 10:00 AM to 1:00 PM November 23, 2024 from 9:00 AM to 10:00 AM Please call for a showing at an alternate time, if necessary.
Checkout Date/Time Saturday, November 23, 2024
Location
Bridgewater Activity Center 502 N Main Street
Bridgewater, IA 50126
Buyer Premium No Buyers Premium
Description
DESCRIPTION: 40 acres m/l to be offered at auction on Saturday, November 23rd, 2024, at 11:00 A.M. This property consists of 40 acres m/l, of which there are 38 taxable acres m/l and 31.71 cropland acres m/l. This tract has an average CSR2 of 53.3, with the Adair County average CSR2 being 64. Two small ponds are on the property. DIRECTIONS: From Greenfield, Iowa, go south on Highway 25 to County Highway G-61, then west on G-61 to Fallow Avenue, then south on Fallow Avenue approximately 2 miles. The subject property is located on the east side of Fallow Avenue. From Bridgewater, Iowa, go south on County Highway N-51 to County Highway G-61, then east to Fallow Avenue, then south on Fallow Avenue approximately 2 miles. The subject is located on the east side of Fallow Avenue. Please watch for real estate signs. LEGAL DESCRIPTION: (40 Acres M/L) Southwest Quarter of the Southwest Quarter (SW1/4 SW1/4), all in Section Twenty-five (25), Township Seventy-four (74) North, Range Thirty-three (33), West of the 5th P.M., Adair County, Iowa. Please refer to abstract for the exact legal description. HUNTING CABIN: There is a 30’ x 40’ hunting cabin located on the premises. A 8’ x 40’ porch is located on the east side and the exterior is metal. The cabin has rural water with a newer septic system. There is a 3/4 bath along with a full kitchen. The interior is finished in pine logs and has an epoxy-coated concrete floor. This entire cabin has the open concept design, newer slider windows, electric baseboard heat, is very well constructed, well maintained, and will come furnished with a refrigerator, stove, beds, couch, etc. Cabin and contents are being sold “As Is.” OPEN HOUSE: 1509 330TH STREET, BRIDGEWATER, IOWA November 9, 2024 from 10:00 AM to 1:00 PM November 23, 2024 from 9:00 AM to 10:00 AM Please call for a showing at an alternate time, if necessary. FARM PROGRAM INFORMATION: Cropland: 31.71 acres Corn Base: 4.1 acres PLC Yield: 107 bu. Bean Base: 3.07 acres PLC Yield: 40 bu. This farm is classified as Highly Erodible Land. No Wetlands Determination is complete at this time. This property does have 2 CRP contracts with 17.3 acres bid in at $242.16/acre or $4,189/year until 2032 with the other contract having 7.24 acres bid in at $247.29/acre or $1,790/annually until 2027. The CRP payments will be prorated to the date of closing. FARM LEASE: The subject property has no farm lease for the balance of the tillable land. IMPROVEMENTS: Improvements other than the cabin are field drainage tile and perimeter fence. PROPERTY TAXES: $1,238/year. Property taxes will be prorated to date of closing.
SALE METHOD: This tract will be offered as an individual tract of 40 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 27, 2024. 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 for the single advertised tract. CLOSING: Closing will occur on or about December 27, 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 based on advertised tract. 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: Brad Skinner SELLERS: BD Trust-Don Timmins, Trustee 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 - 9,000.00 100.00 USD
9,000.01 - 97,500.00 100.00 USD
97,500.01 - 975,000.00 100.00 USD
975,000.01 - 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 27, 2024. 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 for the single advertised tract. CLOSING: Closing will occur on or about December 27, 2024. The balance of the purchase price will be payable at closing in cash, guaranteed check, or wire transfer.