Carroll County, IA
116.17 Acres M/L

300th Street |
Manning, IA 51455 |
Listing #16060

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Property Info

Description

Carroll County, Iowa Land Auction - Peoples Company is offering 116.17 acres m/l of high-quality Carroll County farmland located northwest of Manning, Iowa. The Thomas H. Schroder, LLC farmland will be offered as a single tract through a live in-person auction as well as a virtual live online auction option and online bidding will be available. The auction will take place at 10:00 AM on Saturday, April 2nd, 2022 at the Manning Hausbarn, 130 Heritage Drive, Manning, Iowa 51455.

The productive Carroll County farmland contains 109.46 FSA tillable acres carrying a CSR2 Rating of 75.4 with the primary soil types of Marshall silty clay loam and Colo-Judson silty clay loam. Currently, there are 98.06 acres being farmed carrying a CSR2 soil rating of 75.0 with an additional 11.40 acres enrolled in the Conservation Reserve Program (CRP) until 2026. The CRP practice is CP-21 (Filter Strip Program) with an annual payment of $4,466 ($391.74/acre).

The farm is leased for the 2022 cropping season and has been operated by a reputable local farm tenant. Buyer will receive a credit for the 1st half of the cash rent payment totaling $11,036.25 at closing and will assume the cash rent lease with 2nd half cash rent totaling $11,036.25 due and payable on December 1st, 2022, to the new buyer. This farm would make for a great add-on to an existing farming operation or a smart investment. There are several grain marketing options located nearby including several competing grain elevators.

The farm is located on the north side of 300th Street in Section 7 of Ewoldt Township. The combination of high-quality Carroll County, Iowa farmland combined with CRP income makes for a rare opportunity to purchase land in a tightly held area!

Legal Description

The Southeast Quarter of the Northwest Quarter (SE 1/4 NE 1/4) and the East Half of the Southwest Quarter (E 1/2 SW 1/4), EXCEPT Lot 1 of the Southeast Quarter of the Southwest Quarter (SE 1/4 SW 1/4), all in Section 7, Township Eighty-Two (82) North, Range Thirty-Six (36) West of the 5th P.M., Carroll County, Iowa. Exact legal description to be taken from Abstract.

Directions

From Manning, Iowa (Intersection of State Highway 141 & West Street): Travel north out of town for one mile on County Highway M66 / N West Street and turn left (west) onto 300th Street. Continue for approximately one-half miles and the farm will be located on the north side of the road. Look for the Peoples Company sign.

Sign On Property: Yes
MLS Number: 647278
Parcel Number: 13-07-100-004; 13-07-300-002; 13-07-300-005
School District: IKM-Manning Community School District
General Area: Northwest of Manning, Iowa
Gross Taxes: $2,362.00
Online Bidding: Yes
Auction Date: Apr 2, 2022
CSR2: 75.00
Possession: At Closing, Subject to Tenant's Rights
Terms: Cash / Conventional

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Auction Details

Carroll County, Iowa Land Auction
116.17 Acres M/L
Saturday, April 2nd, 2022 at 10:00 AM

Auction Location:
Manning Hausbarn
130 Heritage Drive
Manning, Iowa 51455

Seller: Thomas H. Schroeder, LLC

Online Bidding: Register to bid at http://peoplescompany.bidwrangler.com/

Auction Method: The farmland will be sold as one individual tract on a price per acre basis to the High Bidder.

Farm Program Information: Farm Program Information is provided by the Carroll 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 Carroll 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 Friday, May 13th, 2022. 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 Tenant's Rights.

Farm Lease: The farm is leased for the 2022 cropping season by a local reputable farm tenant. Buyer will receive a credit for the 1st half of the cash rent payment totaling $11,036.25 at closing and will assume the cash rent lease with 2nd half cash rent totaling $11,036.25 due and payable on December 1st, 2022, to the new buyer.

CRP Payment: The CRP payment will be prorated to the day of closing for the Buyer.

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.

Location

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