TERMS200 Acres+/- SOLD!!!
FRIDAY, OCTOBER 22nd, 2021, at 10:00 AM
LE ROY COMMUNITY CENTER, 204 WEST MAIN STREET, LE ROY, MINNESOTA
LISTING AGENTS:
Jeffrey T. Obrecht (515-689-1648) MN Auctioneer Lic. #2321016
David Whitaker (515-460-8585) MN Broker RE Lic. #40646464
LISTING #21130
DESCRIPTION: 200 acres m/l to be offered at auction on Friday, October 22nd, 2021, at 10:00 A.M. This property consists of 200 acres m/l, of which there are approximately 198 taxable acres and 190.59 cropland acres m/l. This tract has an average CPI of 88.5.
DIRECTIONS: From Leroy, Minnesota, go east on County Highway #56 to State Highway #63, then north to 110th Street, then east on 110th Street 3.25 miles. Subject property is located on the north side of 110th Street or from Spring Valley, go south on State Highway #63 to County Blacktop #44, then east on #44 to 181st Avenue, then south on 181st Avenue 1.25 miles. East end of the subject farm is located on the west side of 181st Avenue. Please watch for real estate signs.
LEGAL DESCRIPTION: (200 Acres M/L) South One-Half of the Northeast Quarter (S1/2 NE1/4); East One-Half of the Southwest Quarter (E1/2 SW1/4); Southeast Quarter of the Northwest Quarter (SE1/4 NW1/4), all in Section Twenty-nine (29), Township One Hundred-One (101) North, Range Twelve (12), West of the 5th P.M., Fillmore County, Minnesota. Please refer to the abstract for the exact legal description.
FARM PROGRAM INFORMATION:
Cropland: 190.59 acres
Corn Base: 95 acres PLC Yield: 166 bu.
Bean Base: 95.5 acres PLC Yield: 44 bu.
This farm is classified as Non-Highly Erodible Land. No Wetlands Determination is complete at this time.
FARM LEASE: The subject property is presently rented for the 2021 crop year. Seller to retain 100% of the cash rent or crop income for the 2021 crop year. The lease for 2022 has been terminated.
LISTING #21130 TERMS AND CONDITIONS
SALE METHOD: This tract will be offered as an individual tract of 200 acres m/l.
TAXES: $6,742/year.
Property taxes will be prorated to date of closing.
IMPROVEMENTS: Improvements are field drainage tile and perimeter fence.
MINERALS: All mineral interests owned by the Seller, if any, will be conveyed to the Buyer.
EARNEST PAYMENT: A 15% earnest money payment is required on the day of the auction. The earnest payment may be paid in the form of cash or check. All funds will be held in the named attorney’s trust account.
POSSESSION: Possession will be granted at closing, on or about December 1, 2021, subject to the current cash rent lease and current tenant’s rights for the 2021 crop year.
CONTRACT AND TITLE: Immediately upon the conclusion of the auction the high bidder will enter into a real estate contract and deposit with the named attorney’s office the required earnest payment. The Seller will provide a current abstract at their expense. Sale is not contingent upon buyer financing. Seller to pay all escrow closing costs.
CLOSING: Closing will occur on or about December 1, 2021. The balance of the purchase price will be payable at closing in cash, guaranteed check, or wire transfer.
SURVEY: At the Seller’s option, the Seller shall provide a new survey where there is not an existing legal or where new boundaries are created. The Seller will be responsible for any survey costs.
BIDDER REGISTRATION: All prospective bidders must register with the auction company and receive a bidder’s number in order to bid at the auction.
ONLINE BIDDING: Please visit our website to register for online bidding. Mid Iowa Real Estate, Auctions, & Appraisals can not be held liable for any technical difficulties relating to the server, software, internet, or other online auction-related technologies. Bidders shall have no claims against the auction company or Sellers if their bids are not accepted.
ATTORNEY: Greg Schieber
SELLER: Raymond P. Drew Revocable Trust
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 or guarantees, expressed or implied, made by the Realtor or Seller. All potential buyers are urged perform their due diligence on the subject property prior to the auction. All map boundaries are approximate, and photographs used may or may not depict the actual property. Total tract acres, tillable acres, FSA acres, etc. are approximate and may be subject to change. All bids will be on a per acre basis. Seller reserves the right to accept or reject any and all bids.
Mid Iowa Real Estate, Auctions, & Appraisals 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 will take precedence over any previous 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.
SALE METHOD: This tract will be offered as an individual tract of 200 acres m/l. TAXES: $6,742/year. Property taxes will be prorated to date of closing. IMPROVEMENTS: Improvements are field drainage tile and perimeter fence. MINERALS: All mineral interests owned by the Seller, if any, will be conveyed to the Buyer. EARNEST PAYMENT: A 15% earnest money payment is required on the day of the auction. The earnest payment may be paid in the form of cash or check. All funds will be held in the named attorney’s trust account. POSSESSION: Possession will be granted at closing, on or about December 1, 2021, subject to the current cash rent lease and current tenant’s rights for the 2021 crop year. CONTRACT AND TITLE: Immediately upon the conclusion of the auction the high bidder will enter into a real estate contract and deposit with the named attorney’s office the required earnest payment. The Seller will provide a current abstract at their expense. Sale is not contingent upon buyer financing. Seller to pay all escrow closing costs. CLOSING: Closing will occur on or about December 1, 2021. The balance of the purchase price will be payable at closing in cash, guaranteed check, or wire transfer. SURVEY: At the Seller’s option, the Seller shall provide a new survey where there is not an existing legal or where new boundaries are created. The Seller will be responsible for any survey costs. BIDDER REGISTRATION: All prospective bidders must register with the auction company and receive a bidder’s number in order to bid at the auction. ONLINE BIDDING: Please visit our website to register for online bidding. Mid Iowa Real Estate, Auctions, & Appraisals can not be held liable for any technical difficulties relating to the server, software, internet, or other online auction-related technologies. Bidders shall have no claims against the auction company or Sellers if their bids are not accepted. ATTORNEY: Greg Schieber SELLER: Raymond P. Drew Revocable Trust 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 or guarantees, expressed or implied, made by the Realtor or Seller. All potential buyers are urged perform their due diligence on the subject property prior to the auction. All map boundaries are approximate, and photographs used may or may not depict the actual property. Total tract acres, tillable acres, FSA acres, etc. are approximate and may be subject to change. All bids will be on a per acre basis. Seller reserves the right to accept or reject any and all bids.