Peoples Company is pleased to be representing Linda K. Sheriff in the sale of Guthrie County, Iowa farmland! The farmland will be offered as a single tract through a live in-person auction as well as a virtual live online auction option. The auction will take place at 10:00 AM on Wednesday, March 2nd, 2022 at the Menlo Community Center, 417 Sherman Street, Menlo, Iowa 50164. This affordable tract consists of 62.79 acres m/l with an estimated 58.10 FSA tillable acres. The farm is located within a great farming community and would be a great starting farm for a beginning farmer, an add-on to an existing farming operation, or an investment opportunity for the Buyer looking to diversify their portfolio. Currently, there are 55.41 acres being farmed with an additional 3.66 acres of grassed waterways. The farm includes a conservation plan with a corn and soybean rotation.
The balance of the farm consists of timber located on both sides of the small creek flowing through the middle of the farm with a marginal crossing. In addition, there are well-maintained perimeter fences on all, but the west side of the property. Improvements include electric and rural water at the road. Rural water is offered through Xenia Rural Water District (2 1/2" waterline along the south side of 325th Street) and electric service through Guthrie County REC (located along the south side of 325th Street).
Highlights of the area include several grain marketing options located nearby including a POET ethanol plant located east of Menlo, Iowa offering competitive bidding. Farming rights are available for the 2022 cropping season. This land would be a great add-on to an existing farming operation or a smart investment for the Buyer looking to diversify their portfolio. The farmland is located approximately one mile north and one-half mile east of Menlo, Iowa in Section 22 of Beaver Township, Guthrie County, Iowa.
East Half of Northeast Quarter (E 1/2 NE 1/4) of Section 22, Township 78 N, Range 31, West of 5th P.M., Guthrie County, Iowa.,(except a tract described as follows: Beginning at the SW 1/4 of the E 1/2 of NE 1/4 of 22-78-31, thence East 1021 Ft., thence Northerly along existing fence line 297 ft., thence West along existing fence line 530 ft., thence Northerly along existing fence line 902.8 ft., thence West along existing fence line 530 ft., thence South along existing fence line 1199.8 ft., to point of beginning containing approx. 17.52 acres). Exact legal description to be taken from Abstract.
From Menlo, Iowa: Travel north out of town on Sherman Street/Rose Avenue for one mile and turn east (right) onto 325th Avenue. Continue for approximately 0.5 miles and the farm will be located on the north side of the road. Look for the Peoples Company sign.
Guthrie County Land Auction
62.79 Acres M/L
Wednesday, March 2nd, 2022 at 10:00 AM
Seller: Linda K. Sheriff
Menlo Community Center
417 Sherman Street
Menlo, Iowa 50164
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 Guthrie 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 Guthrie 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, April 1st, 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.
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.
Use the Interactive Map to explore the property's regional location. Zoom in and out to see the property's surroundings and toggle various mapping layers on and off in the Map Layer Menu.