Iowa County Land Auction
162.28± Acres - Four Tracts
Thursday, June 1st, 2023
10:00 AM

Auction Location: 
Quality Inn
1345 Business Park Road
Mineral Point, WI 53565 

Title Company:
Local Title Company
112 N Iowa Street 
Dodgeville, WI 53533

Auctioneer & License Number: Jesse Meyer No. 2652-52

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: All four tracts will be sold on a per-acre basis and will be offered through the "Buyer's Choice Auction Method", whereas the winning bidder may elect to take, in any order, one, two, three, four or all the tracts for their high bid. The "Buyer's Choice Auction Method" auctioning will continue until all four tracts have been purchased. Tracts will not be offered in their entirety or combined at the conclusion of the auction.

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 Iowa 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 Iowa 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 Local Title Company Trust Account.

Closing: Closing will occur on or before Friday, July 14th, 2023. The balance of the purchase price will be payable at closing in the form of a 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 Tenant's Rights.

Farm Lease: The current farm lease runs though the 2023 growing season. 

Tract One will be based off 17.35 surveyed acres. At closing the buyer(s) will receive a cash rent closing credit of $3,195.

Tract Two will be based off 69.57 surveyed acres. At closing the buyer(s) will receive a cash rent closing credit of $8,475.

Tract Three will be based off 14.32 surveyed acres. At closing the buyer(s) will receive a cash rent closing credit of $2,820.

Tract Four will be based off 61.04 surveyed acres. At closing the buyer(s) will receive a cash rent closing credit of $2,145.

Contract & Title: Immediately upon conclusion of the auction, the high bidder will enter into a real estate sales contract and deposit with Local Title Company the required earnest money payment. The Seller will provide a current Title Commitment 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. 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. The winning bidder acknowledges that they are representing themselves in completing the auction sales transaction. Any announcements made on 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 Title Commitment.