Wayne County, IA

County Highway S40/Idaho Road
Allerton, IA 50008

184.55 Acres M/L
AUCTION

Listing #16611

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PROPERTY INFO

Description

Peoples Company is pleased to be representing The Estate of Sandra L. Reed by offering 184.55 surveyed acres of the family farm located near Corydon, Iowa.

The farm, offered as two tracts, presents a unique opportunity to assemble highly tillable farmland and current pasture with previous cropping history, including a continuous no-till conservation plan with a corn/soybean rotation, located in a tightly held area of Wayne County, Iowa that has not been available to the public in many years. These two southern Iowa farmland tracts are located along paved County Highway S40 approximately four and one-half miles southeast of Corydon, Iowa, and approximately five miles directly east of Allerton, Iowa. The property is being offered in two tracts consisting of:

Tract 1: 155.22 surveyed acres with an estimated 143.96 FSA cropland acres carrying a CSR2 rating of 49.8.
Tract 2: 29.33 surveyed acres with an estimated 21.71 FSA cropland acres carrying a CSR2 rating of 53.5.

These tracts will be offered via a live Public Auction that will take place at 10:00 AM on Friday, February 24th, 2023, at the Wayne County Fair Event Center located at 800 2nd Avenue in Corydon, Iowa. The land will be sold as two individual tracts using the "Buyer’s Choice" auction method on a price per acre basis and the high bidder can take, in any order, one or both tracts for their high bid. "Buyer's Choice" auctioning will continue until both tracts have been purchased and removed from the auction. Tracts will not be offered in their entirety at the conclusion of the auction. This auction can also be viewed through the Peoples Company mobile bidding app and online bidding will be available.

Legal Description

The Southwest Quarter (SW 1/4), EXCEPT Parcel A, located in Section Ten (10) AND Part of the Northwest Quarter of Section Fifteen (15) lying North of the C.R.I.P Railroad right-of-way; and all that part of the former C.R.I.&P. Railroad right-of-way located in the Northwest Quarter of Section Fifteen (15); all in Township Sixty-eight (68) North, Range Twenty-one (21) West of the 5th P.M., Wayne County, Iowa. Exact legal description to be taken from Abstract and Survey.

  • Sign On Property: Yes
  • MLS Number: 666628
  • Parcel Number: 110D10300001; 110D10300002; 110D10300003; 110D10300004; 110K15100001; 110K15100002; 110K15ROW001
  • School District: Wayne Community
  • General Area: Southeast of Corydon, Iowa
  • Gross Taxes: $4,342.00
  • Online Bidding: Yes
  • Auction Date: Feb 24, 2023
  • Possession: Possession to be given At Closing
  • Terms: Cash/Conventional

Directions

From Corydon, Iowa: Travel east out of town for approximately 2 miles on Iowa Highway 2, and turn right (south) onto County Highway S40. Continue south for approximately 4 miles and both tracts will be located on the east side of County Highway S40. Tract #1 will be northeast of the intersection of Idaho Road and County Highway S40 and Tract #2 will be southeast of the intersection of Idaho Road and County Highway S40. Look for the Peoples Company auction signs.

From Allerton, Iowa: Travel south out of town on S26 and turn left (east) onto Idaho Road. Continue east for approximately 5 miles. Tract #1 will be northeast of the intersection of Idaho Road and County Highway S40 and Tract #2 will be southeast of the intersection of Idaho Road and County Highway S40. Look for the Peoples Company auction signs.


Bid Online

Auction Details

Wayne County Land Auction
184.55 Surveyed Acres M/L
Offered in Two Tracts
Friday, February 24th, 2023 at 10:00 AM

Auction Location:
Wayne County Fair Event Center
800 2nd Avenue
Corydon, Iowa 50060

Attorney for the Estate: Verle W. Norris, Law Office of Verle W. Norris, Corydon, Iowa

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 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 or both tracts for their high bid. The "Buyer's Choice Auction Method" auctioning will continue until both tracts have been purchased. Tracts will not be offered in their entirety or combined at the conclusion of the auction.

Tract 1: 155.22 Surveyed Acres M/L
Tract 2: 29.33 Surveyed Acres M/L

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 Wayne 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 Wayne 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 the Law Office of Verle W. Norris Trust Account.

Closing: Closing will occur on or around Friday, April 7th, 2023. The balance of the purchase price will be payable at closing in the form of a certified check or 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 & Farm Leases: Possession of Tract # 1 will be At Closing and is available for the 2023 cropping season. Early possession may be allowed with proof of liability insurance and receipt of earnest payment. Tract #2 is leased for the 2023 grazing season and possession will be given At Closing, Subject to Tenant's Rights. The Buyer for Tract #2 will assume the current farm lease and receive a credit for the 2023 cash rent At Closing.

Contract & Title: Immediately upon conclusion of the auction, the high bidder will enter into a real estate sales contract and deposit with The Law Office of Verle W. Norris the required earnest money payment. The Seller will provide a current abstract 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. Transfer will be made by Court Officer Deed. Estate Auction is subject to final court approval.

Surveys: The Seller has completed a survey for both tracts. No additional surveying or staking will be provided by the Seller.

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. All current and any future fences and fence lines shall be governed by the Wayne County and State of Iowa fence line rules and regulations.

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 price 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


Description

Tract #1 consists of 155.22 surveyed acres with an estimated 143.96 FSA tillable acres carrying a CSR2 of 49.8. The primary soil types of this highly tillable tract consist of Seymour silt loam, Clarinda silty clay loam, Seymour silty clay loam, and Edina silt loam and include a continuous no-till conservation plan with a corn/soybean rotation. Currently, there are an estimated 143.15 acres being farmed. The balance includes grassed waterways located on the northern end of the farm. This farmland tract is available for the 2023 cropping season and is located in the southwest quarter of Section 10 of Jackson Township, Wayne County, Iowa.
**The acreage site located along Idaho Road is not available for purchase.**

FARM PROGRAM INFORMATION:
Cropland Acres: 143.96 estimated
FSA Farm #: 3480
FSA Tract #: 3120
All FSA information, including cropland acres, is subject to change when the farm is reconstituted by the Wayne County FSA Office and NRCS Office. All figures shown are estimates. Please refer to the current FSA 156 and maps for more information. A preliminary conservation plan is available to view. Please contact the listing agent for more information.

Legal Description

The Southwest Quarter (SW 1/4), EXCEPT Parcel A, located in Section Ten (10), Township Sixty-eight (68) North, Range Twenty-one (21) West of the 5th P.M, Wayne County, Iowa. Exact legal description is to be taken from Abstract and/or Survey.

Details
  • Acres: 155.22 Acres M/L
  • Parcel Number: 110D10300001; 110D10300002; 110D10300003; 110D10300004
  • School District: Wayne Community School District
  • Net Taxes: $3,632.00
  • CSR2: 49.80

Directions

From Corydon, Iowa: Travel east out of town for approximately 2 miles on Iowa Highway 2, and turn right (south) onto County Highway S40. Continue south for approximately 4 miles and Tract #1 will be located northeast of the intersection of Idaho Road and County Highway S40. Look for the Peoples Company auction signs.

From Allerton, Iowa: Tract south out of town on S26 and turn left (east) onto Idaho Road. Continue east for approximately 5 miles and Tract #1 is located northeast of the intersection of Idaho Road and County Highway S40. Look for the Peoples Company auction signs.


Description

Tract #2 consists of 29.33 surveyed acres with an estimated 21.71 FSA tillable acres carrying a CSR2 of 53.5. The primary soil types include Seymour silt loam and Clarinda silty clay loam. Currently, this farmland tract is being utilized as pasture for grazing livestock. The tract has a previous cropping history and includes a continuous no-till conservation plan with a corn/soybean rotation. There is also a shallow pond located on the southeast corner of the tract.

The farmland tract is currently leased for the 2023 grazing season and the Buyer will assume the current farm lease with a credit for the 2023 cash rent received At Closing. This tract is located in the northwest quarter of Section 15 of Jackson Township, Wayne County, Iowa.

FARM PROGRAM INFORMATION:
Cropland Acres: 21.71
FSA Farm #: 3480
FSA Tract #: 3120
All FSA information, including cropland acres, is subject to change when the farm is reconstituted by the Wayne County FSA Office and NRCS Office. All figures shown are estimates. Please refer to the current FSA 156 and maps for more information. A preliminary conservation plan is available to view. Please contact the listing agent for more information.

Legal Description

Part of the Northwest Quarter of Section Fifteen (15) lying North of the C.R.I.P Railroad right-of-way; and all that part of the former C.R.I.&P. Railroad right-of-way located in the Northwest Quarter of Section Fifteen (15); all in Township Sixty-eight (68) North, Range Twenty-one (21) West of the 5th P.M., Wayne County, Iowa. Exact legal description to be taken from Abstract and Survey.

Details
  • Acres: 29.33 Acres M/L
  • Parcel Number: 110K15100001; 110K15100002; 110K15ROW001
  • School District: Seymour Community School District
  • Gross Taxes: $710.00
  • CSR2: 53.50

Directions

From Corydon, Iowa: Travel east out of town for approximately 2 miles on Iowa Highway 2, and turn right (south) onto County Highway S40. Continue south for approximately 4 miles and Tract #2 will be located southeast of the intersection of Idaho Road and County Highway S40. Look for the Peoples Company auction signs.

From Allerton, Iowa: Tract south out of town on S26 and turn left (east) onto Idaho Road. Continue east for approximately 5 miles and Tract #2 is located southeast of the intersection of Idaho Road and County Highway S40. Look for the Peoples Company auction signs.


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