Shelby County Land Auction
320 Acres M/L
Wednesday, October 27th, 2021 at 10:00 AM

Seller: Robert L. Larsen Estate

Auction Location:
Walnut Community Center (Warrior Hall)
415 Antique City Drive
Walnut, Iowa 51577

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

Auction Method: The four tracts will be offered via Public Auction and will take place at 10:00 AM at the Walnut Community Center - Warrior Hall, 415 Antique City Drive, Walnut, Iowa 51577. Both farmland tracts (Tracts 1 & 2) 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 or both tracts for their high bid. The "Buyer's Choice Auction Method" auctioning will continue until both farmland tracts have been purchased and removed from the auction. The acreages will be offered through a traditional auction where each acreage is auctioned separately as a total purchase price. Tracts will not be offered in their entirety at the conclusion the auction. This auction can also be viewed through a Virtual Online Auction option and online bidding will be available.  The houses will be sold on an “as is, where is” basis and since the property is owned by an Estate, the Seller is exempt from the Time of Transfer requirements. Should a Buyer want to repair, perform maintenance, or replace the septic system, it will be at their sole expense and responsibility.

Tract 1: 157.75 Acres M/L
Tract 2: 154.50 Acres M/L
Tract 3: 2.25 Acres M/L (North Acreage Site)
Tract 4: 5.50 Acres M/L (South Acreage Site)

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 Shelby 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 Shelby 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 Wednesday, December 15th, 2021. The balance of the purchase price will be payable at closing in the form of cash, guaranteed check, or wire transfer. The sale of property will be subject to Court Approval, if needed.

Possession: Possession of the land will be given At Closing, Subject to Tenant's Rights. 

Farm Lease: The farm is currently leased for the 2021 cropping season and will be open for the 2022 cropping season.

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.

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.

Surveys: Surveys will be completed by the Seller for Tracts 3 & 4. Tract acreages are subject to change prior to the auction. No additional surveying or staking will be provided by the Seller.

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.