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112 acres Tillable Farmland Auction

Hamilton County, Iowa

02-15-2019 10:00 AM

Elizabeth Kuennen Private Online Land Auction

Listing No.: DDA - 25115

Date: 02-15-2019
Time: 10:00 AM


Kamrar, IA 50132
Bidding Online Only

Bid Online

Directions to Farm

From Webster City, head east on 220th St for 3.1 miles, then turn right onto Neely Ave. Drive south for 5 miles, then turn left onto 270th St. Head straight for 2.1 miles. The farm will be on your right, watch for signs.

Auction Details

Agent Comments

This investment grade farm will be sold at auction with online only bidding. The perfect investment for those seeking land holdings in their portfolio or a 1031 exchange. Tract 1 and 2 have a current tenant and that tenant will have the option to rent the farm for the duration of his lifetime at the Van Diest Family LLC cash rent rate in Hamilton County for the corp year. The tenant is currently 60 years old. The tenant may opt to retire or stop renting the farm at any time and is not obligated to rent the farm but does have the option for as long as he wishes to rent it. Tract 1 has some tile, with CRP income on 5.30 acres as a buffer strip along the creek, 87.95 acres are tillable with a 79 CSR2 on tillable acres. Tract 2 is flat black and square 18.16 acres with a CSR2 rating of 81.9.

Inventory

Real Estate Only - of 2 tracts

Tract 1 93.25 acres farmland 

Tract 2 18.16 acres farmland 

These acre figures will be used as the multiplier x your bid  

Sale Method

The farms will be sold as two separate tracts by online-only bidding and auction. Bidding will close promptly at 10 am on auction day.

5% of the purchase price will be due the day of the auction and enter into a purchase agreement with sellers. 

A first right of refusal exists on this farm. The farm will be offered to the first right of refusal holders prior to acceptance of any bid.  By bidding, you agree to honor your bid until the time the first right of refusal has been properly offered to the holders. If you intend to bid please contact the auctioneer to discuss this process. 

Home Description

There are no homes located on the tracts.

Legal Description

Section 6, Lyon Township, and Section 31, Liberty Township

Possession

Landlord possession at closing.

Closing

On or before April 30, 2019

Soil Productivity

See individual tract information

Taxes

See individual Tract info

Earnest Money

5% due day of auction

Farm Lease

Currently rented

Terms and Conditions

Identification will be required to register to bid during this auction. Video and audio recording devices will be in use during the auction which may be broadcast via the Internet or used in other places. Bidding increments are at the sole discretion of the Auctioneer who may accept or reject any bid. Immediately upon conclusion of the auction the high bidder(s) will enter into a real estate contract and deposit with DreamDirt Farm and Ranch Real Estate LLC or other approved holding account the proper non-refundable earnest deposit. The Seller(s) will provide a current abstract or other title conveyance instrument at their own expense unless otherwise noted. The sale is not contingent upon buyer financing, all bids are cash bids. This sale is subject to all easements, covenants, leases, and restrictions of record. Buyers must do their due diligence prior to bidding. All property is sold on an "As is – Where is" basis with no warranties or guarantees, expressed or implied, made by the Auctioneer or Seller unless specifically stated. You agree by bidding that you will enroll any CRP acres in your name upon gaining ownership or abide by continuing requires of any government programs or conservation programs on the farm or pay any necessary penalties should you choose not to. The seller reserves the right to accept or reject any and all bids. The successful bidder(s) acknowledges that they are representing themselves or have hired representation using their own financial means to complete the auction sales transaction. Any announcements made on auction day by the Auctioneer will take precedence over any previous material or oral statements. The Auctioneer may accept absentee, phone or Internet bids from bidders who can not attend the auction or bid on behalf of the seller to advance toward any reserve until the reserve is achieved. Bidding remotely does not guarantee anonymity. All decisions of the Auctioneer are final. The auction is open to the public contingent upon proper behavior. The Auctioneer may ask you to leave if your behavior is not in the best interest of the seller.

Contract

Contact


Tom Bradley, Land Broker l Auctioneer

Work: (855) 376-3478

Cell: (515) 202-7687

Email: Tom@DreamDirt.com


Jason Smith, Broker / Auctioneer

Work: (855) 376-3478

Cell: (515) 537-6633

Email: Jason@DreamDirt.com

©2018 DreamDirt Farm and Ranch Real Estate. We have obtained all disseminated information from sources we have deemed to be reliable but do not warrant or guarantee any information. It is possible that information has been omitted or reported to us 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.


Tract 1

93.25 Acres
87.95 Tillable Acres
Sold For

$6,900 per acre

Tract Detail

Taxes: $1,943.55 Annual

Legal Description

SW 1/4 of NE 1/4 and W 1/2 of the W 1/2 of SE 1/4, Section 6, Twp 87N, 24W

Soil Productivity

79 CSR2 tillable


Tract 2

18.27 Acres
18.16 Tillable Acres
Sold For

$8,400 per acre

Tract Detail

Taxes: $524.00 Annual

Legal Description

Section 31, Twp 88N, Range 24W

Soil Productivity

81.9 CSR2