Offering 236 acres m/l of high quality Buchanan County farmland to be sold at public Auction Thursday, March 22nd, 2018 at 10:00 AM at the Aurora, Iowa American Legion. Auction will consist of two outstanding tracts with Tract 1 totaling 156 acres m/l and Tract 2 totaling 80 acres m/l. The Farms will be sold using the “choice” auction method with the successful bidder will having the choice to take one or both tracts. Both tracts are highly productive soils and well drained with outstanding yield potential.
The Northwest Quarter (NW 1/4) of Section 32, Township 90 North, Range 7 West of the 5th P.M. EXCEPT a parcel to be surveyed AND The East Half (E 1/2) of the Southwest Quarter (SW 1/4) of Section 34, Township 90 North, Range 7 West of the 5th P.M., all in Buchanan County, Iowa.
EXACT LEGAL TO BE TAKEN FROM ABSTRACT.
Tract 1: From Aurora, head South on Highway W45 (Slater Avenue) for approximately 3.5 miles to 150th Street. Travel East on 150th Street for approximately 3/4 mile. Tract 1 is located on the corner of Taylor Avenue and 150th Street.
Tract 2: From Lamont, head South on Highway 187 (Washburn Avenue) for 3 miles to 160th Street. Travel West of 160th Street for 1/2 mile and Tract 2 will be located on the north side of the road.
Sold Date: Apr 25, 2018
Sold at $0/acre
Seller Name: Margaret Mangrich
Both tracts are tiled. Contact agent for more details.
Farm is leased for the 2018 crop year and all cash rent will go to the Buyer. The winning bidder of Tract 1 will receive a credit of $12,833 at closing with the remaining payments due on July 1st and December 1st, 2018. The winning bidder of tract 2 will receive a credit of $6,667 at closing with the remaining payments due on July 1st and December 1st, 2018.
Buchanan County Land Auction
236 Acres M/L
Thursday, March 22nd, 2018
Aurora American Legion
302 Warren Street, Aurora, Iowa 50607
Sale Method: Auction will be sold via the "Buyers Choice" method of marketing, high bidder will have the choice to take one or both tracts.
Earnest Money Payment: A 10% earnest money payment is required on the day of the auction. The earnest money payment may be paid in the form of cash or check. All funds will be held in Peoples Company’s Trust Account.
Closing: Closing will occur on or before April 25th, 2018.
Possession: Possession of the farm will be granted at closing, subject to tenant rights.
Farm Lease: The farm is leased for the 2018 season and the winning bidder will assume the lease, including all payments.
Contract & Title: Immediately upon conclusion of the auction, the high bidder will enter into a real estate sales contract and deposit with Peoples Company the required earnest money payment. The Seller will provide a current abstract at their expense. Sale is not contingent upon Buyer financing.
Bidder Registration: All prospective bidders must register with Peoples Company and receive a bidder number to bid at the auction.
Other: 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, expressed or implied, made by the Auctioneer, Peoples Company, or Seller. All bids will be on a per acre basis. 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 or Listing Agents will take precedence over all previous marketing 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.
Disclaimer: All field boundaries are presumed to be accurate according to the best available information and knowledge of the Seller and Peoples Company. Overall tract acres, tillable acres, etc. may vary from figures stated within the marketing material. Buyer should perform his/her own investigation of the property prior to bidding at the auction. The brief legal descriptions in the marketing material should not be used in legal documents. Full legal descriptions will be taken from abstract. Acres of each tract are subject to change based on survey. Seller and its representatives reserve the right to change the acre figures during the marketing period any time prior to the auction. All of the Farm Program Information is subject to change. Base acres are estimated and will be recalculated with FSA office after change of ownership.
Tract 1 will be offered as 156 acres m/l with 150.03 FSA tillable acres carrying a CSR2 of 86.8. Productive primary soil types include Clyde-Floyd, Kenyon & Readlyn Loams. This property offers quality soils and good drainage in a strong farming area. The farm is leased for the 2018 crop year and the winning bidder assume this crop lease and all payments. Tract 1 will require the installation of a driveway at the Buyer's expense. The acreage on this tract will be surveyed off and sold separately, exact number of acres may change slightly and all acreage figures announced the day of the auction will be final. Tract 1 is located just southeast of Aurora in Section 32 of Madison Township, Buchanan County, Iowa.
From Aurora, head South on Highway W45 (Slater Avenue) for approximately 3.5 miles to 150th Street. Travel East on 150th Street for approximately 3/4 mile. Tract 1 is located on the corner of Taylor Avenue and 150th Street.
Tract 2 will be offered as 80 acres m/l and is 100% tillable with a CSR2 of 78.4. Productive primary soil types include Cresco, Protivin & Clyde-Floyd Loams. This property offers quality soils and good drainage in a strong farming area. The farm is leased for the 2018 crop year and the winning bidder assume this crop lease and all payments. Tract 1 is located just southwest of Lamont in Section 34 of Madison Township, Buchanan County, Iowa.
From Lamont, head South on Highway 187 (Washburn Avenue) for 3 miles to 160th Street. Travel West of 160th Street for 1/2 mile and Tract 2 will be located on the north side of the road.
Click the “play” button below to watch an aerial drone video of this property.