Fayette County, Iowa Land Auction – 80 Acres of high-quality land will be sold at public auction on Tuesday, March 1st, 2022. The auction will be held at 10:00 AM in the Dance Pavilion at the Fayette County Fairgrounds. This farm features 76.26 FSA Cropland Acres of which 72.13 acres are currently in row crop production with an average CSR2 of 78.5. There are an additional 4.13 acres enrolled in CRP (Conservation Reserve Program) that expires on September 30th, 2022 with an annual payment of $1,041 ($252 per acre). The current CRP contract is a CP21 Filter Strip program which reduces erosion and nutrient loss. This property is in a strong farming area with an excellent location between the Fairbank ethanol plant and Mississippi River markets, as well as 70 miles from the Cedar Rapids grain markets. The farm is open for the 2022 cropping season and primary soil types include high producing Floyd Loam, Lawler Loam, and Kenyon Loam. Interested parties will have the option to bid in person or online. The property is located just northwest of Fayette, Iowa along M Avenue, in Section 1 of Center Township.
The South Half of the Northeast Quarter of Section 1, Township 93 North, Range 9 West of the 5th P.M., Fayette County, Iowa. Exact legal description to be taken from Abstract.
FSA Cropland Acres: 76.26
Corn Base: 62.34 Acres with a PLC Yield of 170
Soybeans Base: 9.79 Acres with a PLC Yield of 45
From West Union, Iowa: Travel south out of West Union on Iowa Highway 150 for 3 miles until reaching Highway C14. Turn west on Highway C14 for 1.5 miles until reaching M Avenue. Head south on M Avenue for a quarter mile and the farm will be on the west side of the road.
From Fayette, Iowa: Travel west on Highway 93 for 2 miles to M Avenue. Head north on M Avenue for 3.5 miles and the property will be on the west side of the road.
Fayette County Land Auction
80 Acres M/L
Tuesday, March 1, 2022
Fayette County Fairgrounds - Dance Pavillion
504 South Vine Street
West Union, IA 52175
Online Bidding: Register to bid at http://peoplescompany.bidwrangler.com/
Auction Method: Property will be offered as one individual tract. All bids will be on a price per acre basis.
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 Fayette 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 Fayette 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 check or wire transfer. All funds will be held in the Dillon Law, P.C. Trust Account.
Closing: Closing will occur on or before Thursday, April 7, 2022. The balance of the purchase price will be payable at closing in the form of guaranteed check or wire transfer.
Possession: Possession of the land will be given at closing. Early possession may be allowed with proof of liability insurance and receipt of earnest payment.
Farm Lease: The lease has been terminated and the farm is open for the 2022 crop season.
Contract & Title: Immediately upon the conclusion of the auction, the high bidder will enter into a real estate sales contract and deposit with Dillon Law, P.C. the required earnest money payment. The Seller will provide a current abstract at their expense. Sale is not contingent upon Buyer financing.
Fences: Existing fences, if any, are in as-is condition and will not be updated or replaced by the Sellers. Not all tract and boundary lines are fenced and if needed, will be the responsibility of the Buyer at closing. Existing fence lines may not fall directly on the legal boundary.
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. The 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.
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