Warren County Land Auction
183.42 Acres M/L
Thursday, March 25th, 2021
10:00 AM

Seller:
The Estate of James H & Patricia A Dean

Auction Location:
The Wright Place
340 Wright Road, Suite A
Norwalk, IA 50211

Auction Method: Property will be offered via the "Choice Auction Method" winning bidder may elect to take Tract 1, Tract 2, Tract 3, or any combination of Tracts. 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.

Farm Program Information: Farm Program Information is provided by the Warren 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 Warren 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 about Friday, April 30th, 2021. 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 land will be given at Closing, Subject to Tenants Rights. Possession of the house, buildings, and bins will be July 1, 2021 subject to a short-term lease. 

Farm Lease: The current farm lease has been terminated. Farm will be open for the 2021 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.

Survey: A survey will not be required to split and transfer the property. Tract boundary corners will be marked prior to closing. No additional survey or staking will be paid for by the Seller.

Septic System: Per Iowa Code 445B, this property is exempt from the Septic System Inspection Requirement and the septic system servicing the home is in as-is condition and no inspections, updates, or improvements will be made by the sellers.

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.

Reserved Items: White portable shed, fuel barrels, propane tank, and livestock gates.

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.