The Hopkins Family Farm Auction consisting of 138.0 surveyed acres will still be taking place on Friday, March 20th. However, bidding for this auction will take place through Online or Phone Bidding ONLY. There will be a group of licensed Peoples Company agents at the Ottumwa Golf and Country Club to work with Bidders and help facilitate placing a bid. Please contact Matt Adams at 515.423.9235 or by email at Matt@PeoplesCompany.com with any questions about the auction or how to bid on this property.
Peoples Company is pleased to be representing the Robert D. & Janet L. Hopkins Living Trust in the sale of their Wapello County farmland. The property consists of a total of 138.0 surveyed acres m/l and will be sold as two individual tracts via Public Auction. The auction will take place at the Ottumwa Golf and Social Club in Ottumwa, Iowa at 10:00 AM, Friday, March 20, 2020. Something for everyone including high quality tillable farmland, pasture with a good water source and newer fences, and potential building sites located on hard surface road just north the city limits of Ottumwa, Iowa and in Sections 1 and 2 of Center “E” Township. Mark your calendars for March 20th!
Long legal description. Exact legal description to be taken from Abstract.
From US Highway 163 (Exit 42): Travel south (right) on 145th Ave for 0.4 miles until reaching 138th Street. Turn left (east) on 138th Street for 0.5 miles and turn right (south) onto Sycamore Road and travel south for approximately 1.7 miles. Tract 1 will be located on the east side and Tract 2 will be located on the west side of Sycamore Road marked with a Peoples Company sign.
Wapello County Land Auction
138 Surveyed Acres M/L
Offered in Two Separate Tracts
Friday, March 20, 2020
Seller: Robert D. & Janet L. Hopkins Living Trust
Ottumwa Golf and Social Club
304 E Golf Ave
Ottumwa, IA 52501
Auction Method: The farm will be offered in two individual tracts. All bids will be on a price per acre amount. Actual acres may change subject to survey currently being conducted on the farm.
Farm Program Information: Farm Program Information is provided by the Wapello County Farm Service Agencies. The figures stated in the marketing material are the best estimates of the Seller and Peoples Company; however, Farm Program Information, base acres, total crop acres, conservation plan, etc. are subject to change when the farm is reconstituted by the Wapello County FSA and NRCS offices.
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 Thursday, April 30, 2020. The balance of the purchase price will be payable at closing in the form of cash, guaranteed check, or wire transfer.
Possession: Possession of the farm will be given At Closing, Subject to Farm Tenant's Rights.
Farm Lease: There is a farm lease in place for the 2020 farm year for both the tillable acres and the pasture land. The Winning Bidder will receive the first half of the cash rent for the 2020 crop season at closing and will assume the current lease to collect the second half of the 2020 cash rent. Contact agent for additional farm lease details.
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 in order 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.
Tract 1 consists of 38.23 surveyed acres with approximately 35.7 FSA tillable acres and a CSR2 rating of 78.6. This affordable farm would make for a great investor purchase or add-on for a current farming operation. Improvements include extensive drainage tile and water intakes installed. Additionally, paved road frontage and rural water availability would offer potential for an acreage site. There is a 2” water line located on the east side of Sycamore Road. The farmland is leased for the 2020 farm year with two payments being made on April 1st and November 1st. Buyer will receive the first cash rent payment at closing and will assume the current farm lease to receive the second half of the payment. Contact agent for farm lease details. Farm is located just outside of the Ottumwa City Limits in Section 1 of Center “E” Township. *Previously, access for this farm has been through the driveway by the electric substation owned by Alliant Energy. The Wapello County Engineer’s office has approved locations along Sycamore Road for possible driveways. Contact listing agent for additional information on the access.
Notes: No building or structures shall be erected or allowed to be erected on the 100 foot strip of land adjacent to and between the above described lands last herein above excepted and the right of way of the Railroad without first procuring written consent of Alliant Energy.
Exact legal to be taken from abstract.
From US Highway 163 (Exit 42): Travel south (right) on 145th Ave for 0.4 miles until reaching 138th Street. Turn left (east) on 138th Street for 0.5 miles and turn right (south) onto Sycamore Road and travel south for 1.7 miles. Tract 1 will be located on the east side of Sycamore Road marked with a Peoples Company sign.
Tract 2 consists of 99.77 surveyed acres m/l with 18.38 FSA tillable acres and a CSR2 rating of 59.5.The balance of the farm consists of mature timber and hard-to-find pasture ground with well-maintained barbed wire perimeter fences, including three ponds providing adequate water. Wapello Rural Water Association has a 2" water line located just east of Sycamore Road. The farmland and pasture acres are leased for the 2020 farm year with two payments being made on April 1st and November 1st for the farmland and May 1st and December 1st for the pasture. Buyer will receive the first cash rent payment at closing and will assume the current farm lease to receive the second half of the payment. Contact agent for farm lease details. Acres have been adjusted to reflect the most recent survey. The gravel driveway on the north side of Tract 2 was originally included, however after the survey was completed, it was realized that this driveway is not included. With any questions, please contact the agent.
Exact legal to be taken from abstract.
From US Highway 163 (Exit 42): Travel south (right) on 145th Ave for 0.4 miles until reaching 138th Street. Turn left (east) on 138th Street for 0.5 miles and turn right (south) onto Sycamore Road and travel south for 1.7 miles. Tract 2 will be on the west side of Sycamore Road marked with a Peoples Company sign.
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