Madison County, IA
26.76 Acres M/L

Rustic Avenue & 285th Lane
East Peru, IA 50222
Listing #17605

Upcoming Auction

Bid Online

Property Info

Description

Absolute Madison County Land Auction - Mark your calendar for Thursday, June 27th, 2024! Peoples Company is pleased to present 26.76 m/l surveyed acres via an online-only auction. The farm has 24.96 FSA Cropland Acres carrying a CSR2 of 79. Primary soil types include high-producing Ladoga Silt Loam and Givin Silt Loam. The farm yielded 205-bushel corn during the 2023 crop season. Farm improvements were made last year by removing terraces and cleaning up fence lines to improve the ability to farm. The tillable acres are being custom-operated for the 2024 crop season. The buyer will receive a $150 per tillable acre credit at closing for the second half of the growing season. Possession will be granted once the crop is harvested. Seller financing available, contact agent for details. 

The property also has multiple spots to build, being less than one-half mile off pavement and only 35 minutes from the Des Moines Metro. The farm is located northeast of East Peru in Section 2 of Walnut Township. 

The tract will be offered through a TIMED ONLINE-ONLY auction. Bidding is currently LIVE and will remain open until Thursday, June 27th, 2024, at 3:00 PM Central Time Zone (CST). If you are unable to bid online, accommodations can be made to participate in the auction by contacting the Listing Agents. 

Legal Description

 Parcel "E" being a part of the NE 1/4 of the SE ¼ (NE ¼ SE ¼) of Section 2; Township 74 North, Range 27 West of the 5111 P .M., Madison County, Iowa, more particularly described in Plat of Survey recorded August 17, 2022 in Book 2022, Page 2451 in the office of the Madison County Recorder; Subject to a "blanket'' easement for water line purposes over, under and across the following described property: Beginning at the NW comer of the East 10 acres of the NW ¼ of the SE ¼(NW¼ SE¼) of Section 2, Township 74 North, Range 27 West of the 5th P.M.; thence S 89°39'38" E, along the half section line, a distance of 674.66 feet; thence S 03°05'06" W, a distance of 40.05' to the point of beginning; thence S 03°05'06" W, a distance of210.24'; thence N 89°39'38" W, a distance of 150.17'; thence N 03°05'06" E, a distance of210.24'; thence S 89°39'38" E, a distance of 150.17' to the point of beginning; Containing 0.724 acres. Exact legal to be taken from abstract.

Directions

From the intersection of Interstate 35 and Highway 5 in West Des Moines, head south on Interstate 35 for 20 miles and take Exit 47 onto Highway 46 / Peru Road. Take Peru Road west for 9 miles until reaching Rustic Road. Turn right (north) on Rustic Road for one-half mile. The property is located on the southwest corner of Rustic Road and 285th Lane.
  • Sign On Property: Yes
  • MLS Number: 695618
  • Parcel Number: 700150282010000
  • School District: Winterset School District
  • General Area: Northeast of East Peru
  • Net Taxes: $516.00
  • Online Bidding: Yes
  • Auction Date: June 27, 2024
  • CSR2: 79.00
  • Possession: At closing, subject to tenant's rights
  • Terms: Cash

Additional Info

*A principal of the selling LLC holds an active real estate license in the State of Iowa.

Bid Online

Auction Details

Madison County, Iowa Absolute Land Auction
26.76 Surveyed Acres
Bidding Ends: Thursday, June 27th, 2024, at 3:00 P.M.

ALL BIDS WILL BE ON A PRICE-PER-ACRE BASIS

Selling Absolute with No Reserve

How to Bid: Open up the Peoples Company auction you are interested in at PeoplesCompany.com. Click on any of the BID NOW icons within that auction. This will take you to our Online Bidding platform. Find the auction you wish to participate in and select it. To participate in that auction click REGISTER TO BID. From there, you will need to create a bidder account. Once that is created you can bid on any of our Online Auctions.

Online Bidding: Register to bid at http://peoplescompany.bidwrangler.com/. Potential bidders will be accessing this auction online 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 a 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: This property will be offered as one individual tract. All bids will be on a price-per-acre basis. A bid placed within 3 minutes of the scheduled close of the auction will extend bidding by 3 minutes until all bidding is completed. If you plan to bid, please register 24 hours before the auction date. Under no circumstances shall Bidder have any kind of claim against Peoples Company or its affiliates if the Internet service fails to work correctly before or during the auction.

Agency: 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 Madison 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 Madison 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 SettleUp Trust Account.

Closing: Closing will occur on or about Wednesday, August 7th, 2024. The balance of the purchase price will be payable at closing in the form of a guaranteed check or wire transfer.

Possession: Possession will be granted once the crop is harvested.

Farm Lease: The tillable acres are being custom-operated for the 2024 crop season. The buyer will receive a $150 per tillable acre credit at closing for the second half of the growing season.

Contract & Title: Immediately upon the 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. The sale is not contingent upon Buyer financing.

Bidder Registration: All prospective bidders must register with Peoples Company and receive a bidder number to bid at the auction.

Co-Brokers: Participating brokers must register the client 24 hours before the Auction date by filling out our Broker Registration Form.

Contract & Title: Immediately upon the conclusion of the auction, the high bidder will enter into a real estate sales contract and deposit the required earnest money payment into the SettleUp Trust Account. The Seller will provide a current abstract at their expense. The sale is not contingent upon Buyer financing.

Financing: The purchaser’s obligation to purchase the Property is unconditional and is not contingent upon the Purchaser obtaining financing. Any financial arrangements are to have been made before bidding at the auction. By the mere act of bidding, the bidder makes a representation and warrants that the bidder has the present ability to pay the bid price and fulfill the terms and conditions provided in the Contract.

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. 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 Auction Company.

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 investigation of the property before bidding during the auction. Principals of the Selling Entity hold active real estate licenses in the State of Iowa. The brief legal descriptions in the marketing material should not be used in legal documents. Full legal descriptions will be taken from the Abstract. 

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