Franklin County, IA
157.00 Acres M/L

160th Street |
Alexander, IA 50420 |
Listing #13665

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Property Info

Description

This property consists of 157 acres, of which there are 154.92 taxable acres and 152.18 cropland acres. Of this 152.1 acres, there are 15.6 acres in CRP with an annual payment of $2414.00 until 2017. This property has an average CSR2 of 82.8, CSR1 OF 79.1, with the county average CSR2 being 80.7.

Legal Description

The Southwest Quarter (SW1/4) of Section Twenty-one (21), Township Ninety-two (92) North, Range Twenty-two (22), West of the 5^th P.M., Franklin County, Iowa, Except a parcel described in Survey #03-3208. Please refer to abstract for exact legal description.

Details

FARM PROGRAM INFORMATION:
Cropland: 152.1
Corn Base: 76.5 Acres with a PLC Yield: 156 bushels
Bean Base: 60.1 Acres with a PLC Yield: 39 bushels

This farm is classified as Non-Highly Erodible Land. No Wetlands Determination is complete at this time.
The subject property does have 15.6 acres of CRP that pays $2414.00 annually until 2017.

FARM LEASE: The subject farm is currently cash rented with the seller retaining 100% of the cash rent for 2016. Lease for 2017 will be terminated prior to the auction.

Directions

From Latimer, go south on Akir Street to Highway 3, then go west on Highway 3 approximately 5 miles to Cardinal Avenue, then go north on Cardinal Avenue to 160th Street. The farm is located on the northeast side of this intersection. Please watch for signs.

Sign On Property: Yes
School District: CAL
Net Taxes: $3,952.00
Auction Date: Sep 9, 2016
CSR: 79
CSR2: 82.00
Possession: 10.15.16 - Subject to Lease

Auction Details

FRANKLIN COUNTY LAND AUCTION

157 ACRES M/L
Friday, September 9, 2016
10:00 AM
Latimer Community Building
104 N Akir Street
Latimer, Iowa

SALE METHOD: This property will be sold as one tract of 157 acres M/L.

IMPROVEMENTS: None

TAXES: $3952/year or $25.50/taxable acre.

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 Peoples Company or named attorney’s trust account.

POSSESSION: Possession will be granted at closing, on or about October 15, 2016, subject to the current cash rent lease and current tenant’s rights for the 2016 crop year.

CONTRACT AND TITLE: Immediately upon conclusion of the auction the high bidder will enter into a real estate contract and deposit with Peoples Company 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 October 15, 2016. 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.

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 Auctioneer or Seller. All bids will be on a per acre basis. SALE IS SUBJECT TO COURT APPROVAL.

Peoples Company 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.