Wayne County, IA
160.00 Acres M/L

Ohio Road and 120th Street
Corydon, IA 50060
Listing #17621

Upcoming Auction

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Property Info

Description

Wayne County, Iowa Farmland Auction - Mark your calendar for Friday, August 2nd, 2024, at 10:00 AM CST! 

Peoples Company is pleased to represent the Jennifer E. Ehrich Trust in the sale of 160 acres m/l located 2.5 miles northwest of Corydon, Iowa. This investment farm features good quality tillable farmland, CRP acres, recreational opportunities, and excellent building sites. There are a total of 123.01 FSA tillable acres carrying an average CSR2 of 45.3.  100 acres m/l are cash rented for crop production and 22.25 acres are enrolled in CRP. The CRP acres pay $206.62/acre for a total yearly payment of $4,597 until 09/30/2026.

For the hunter, this farm is located in an incredible recreational area full of upland birds, turkeys, and deer. This farm has thick brushy areas, big timbered draws, one pond, and hidden bottom fields perfect for holding and growing big deer. Multiple scenic building sites on the south side of this farm overlook the rest of the farm. Rural water and electric services are available at Ohio Road.

This Southern Iowa farmland tract will be offered via a live Public Auction that will take place at the Walden Park Clubhouse (Corydon Golf Course) located at 501 South East Street in Corydon, Iowa. The land will be sold as one tract on a price-per-acre basis. This auction can also be viewed through the Peoples Company mobile bidding app and online bidding will be available. 

Legal Description

SE 1/4 of Section 11, Township 69 North, Range 22 West, Wayne County, Iowa. Exact legal description to be taken from Abstract.

Directions

Beginning in Corydon, Iowa, travel west on Highway 2 for approximately 1.5 miles to 120th Street. Head north for 2 miles to the farm located on the west side of the road. Watch for Peoples Company auction signs.
  • Sign On Property: Yes
  • MLS Number: 697030
  • Parcel Number: 060E11400001,060E11400002,060E11400003,060E11400004
  • School District: Wayne County School District
  • General Area: Corydon
  • Net Taxes: $2,400.00
  • Gross Taxes: $2,400.00
  • Online Bidding: Yes
  • Auction Date: August 2, 2024
  • CSR2: 45.30
  • Possession: At Closing, Subject to tenants' rights
  • Terms: Cash

Bid Online

Auction Details

Wayne County Land Auction
160 Acres M/L
Offered as One Tract
Friday, August 2nd at 10:00 AM

Auction Location:
Walden Park Clubhouse (Corydon Golf Course)
501 South East Street 
Corydon, Iowa 50060

Online Bidding: Register to bid at http://peoplescompany.bidwrangler.com/. Potential bidders may have access to the live auction by utilizing Peoples Company's online auction platform via the Internet. By using Peoples Company's online auction platform, bidders acknowledge that the Internet is known to be unpredictable in performance and may, from time to time, impede access, become inoperative, or provide slow connection to the online auction platform. Bidders agree that Peoples Company nor its affiliates, members, officers, shareholders, agents, or contractors are, in any way, responsible for any interference or connectivity issues the bidder may experience when utilizing the online auction platform.

Auction Method: This single tract will be sold on a price-per-acre basis through a traditional auction method.

Bidder Registration: All prospective bidders must register with Peoples Company and receive a bidder number in order to bid at the auction. Peoples Company and its representatives are agents of the Seller. Winning bidder(s) acknowledge they are representing themselves in completing the auction sales transaction.

Farm Program Information: Farm Program Information is provided by the Wayne County Farm Service Agency. 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 Wayne 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 the Verle W. Norris Trust Account.

Closing: Closing will occur on or around Thursday, September 12, 2024, under the direction of Verle W. Norris, Attorney at Law at the Verle W. Norris Law Office in Corydon, IA. The balance of the purchase price will be payable at closing in the form of a certified check or wire transfer. With respect to the timing of the Seller and successful Buyer in fulfilling the obligations set forth in the Real Estate Sale and Purchase Agreement, time is of the essence.

Possession: Possession of the farm will be given at Closing, subject to tenants' rights.  This farm is leased through the 2024 farm season.

CRP:  The 2024 CRP payment will be prorated to the date of closing.

Tillable Acres Cash Rent:  The Buyer will receive an $8,000 credit at the time of closing for the 2nd half of the 2024 farm rent.  

Contract & Title: Immediately upon conclusion of the auction, the high bidder will enter into a real estate sales contract and deposit with Verle W. Norris Trust Account the required earnest money payment. The Seller will provide a current abstract at their expense. Sale is not contingent upon Buyer obtaining financing after the conclusion of the auction. All financial arrangements are to have been made prior to bidding at the auction.

Fences: Existing fences, if any, are in as-is condition and will not be updated or replaced by the Sellers.  Existing fence lines may not fall directly on the legal boundary. All current and any future fences and fence lines shall be governed by the Wayne County and State of Iowa fence line rules and regulations.

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 price-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. 

Location


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Photos

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Jared Chambers, CAI

LAND AGENT & AUCTIONEER

Jared@PeoplesCompany.com
Office: 515.222.1347
Mobile: 641.414.0234