1181 Acres of Tillable Farmland Winnebago County Auction
Located north of Lake Mills, Iowa in Winnebago County or 25 miles northwest of Mason City at Norway Township Sections 9,10, 11, 15 and 16
Time: 10:00 AM
Directions to Farm
The farms are located straight 4 miles north of Lake Mills, Iowa, 25 miles northwest of Mason City or 12 miles southwest of Albert Lee Minnesota.
Diamond Jo’s Casino 777 Diamond Jo Lane Northwood, Iowa. A note on attendance, if you are accompanied by any persons under the age of 21 please use the north entrance directly into the conference room. This entrance will be marked.
The method of sale will be rounds with combination bidding. The Auctioneers will take bids on Tracts 1 through 10. They will then take bids on a combination of tracts 1-4 and bids on a combination of tracts 5-10. An increase of $100 per acre on the average of the tracts included will be required for a combination bid to tie tracts together.
Possession will be landlords possession at closing, the farm is rented for 2016. Cash rent will be paid to buyers approximately 2 weeks following the closing and calculated at $225 per tillable acre.
Closings will be held approximately 40 days following the auction. 1031 buyers needing to closer earlier may be accommodated. Sellers will make any reasonable attempt to accommodate a 1031 situation but can not delay closing any significant time. If you have farmland to sell prior to closing contact Jason Smith at DreamDirt (641)670-7112 to discuss.
Non-refundable 10% deposit upon becoming the successful buyer to be held in the sellers attorney’s trust accounts until closing. All earnest deposit checks will be made payable to Coonley Trust Account and will be held by Coonley and Coonley Law Office at Hampton, Iowa.
Terms and Conditions
The sellers will require all registered bidders to provide a bank letter of credit upon registering at the auction. The letter of credit must state that you are capable of completing the transaction as a cash transaction or will have credit extended to you to cover your bidding. The Letter of Credit should be brought to the auction with you.
©2016 DreamDirt Farm and Ranch Real Estate. We have obtained all disseminated information from sources we have deemed to be reliable but do not warranty or guarantee any information. It is possible that information has been omitted or reported in error. All lines drawn on maps are approximate. All acreages are stated as more or less. Representatives of DreamDirt Farm and Ranch Real Estate LLC may offer opinions based on the best information available at the time using assumptions and estimates but this does not guarantee any performance financial or otherwise. It is imperative that you rely on professional advice from legal, tax, financial or other advisors to make any decisions based on your own investigation.