Cass County 151+/- Auction

Mark your calendar for Saturday, March 11^th, 2023 at 10:00 am. 

KILOTERRA is proud to present this high-quality tillable farm in Cass County, Iowa.  This farm is available to the public market for the first time in three generations, and offers the rare opportunity to own an investment grade property with pavement access and multiple improvements already in place.

This property is located in Section 19 of Lincoln Township and will be offered in a single tract containing 151.40 of farmland with 142.89 FSA tillable acres carrying a CSR2 of 70.4 including Marshall silty clay loam soils. The balance of the farm is in terraces and well-maintained grass waterways.  The existing long-term tenant has taken great care of this property, utilizing conservation farming practices on a corn / bean rotation, and additional tiling has recently been installed to improve drainage.  The same long-term tenant has the farm leased for the 2023 crop season, and the buyer will receive a credit at closing for the pro-rated cash rent. Possession will be at closing, subject to tenant’s rights.

The Live Auction is March 11^th, 2023, 10 AM, at the Anita Community Center, 805 Main Street Anita, Iowa 50020.  Absentee bidding will be available via online bidding.  Online Bidders must register 24 hours prior to the day of auction. Bid Online Here: https://kiloterra.bidwrangler.com/ui

For assistance registering for online bidding, or for questions regarding this property, contact Listing Agent, Zack Wahlert at 515.523.7747.

USDA Information:

• Farmland Acres: 151.40
• Cropland Acres: 142.89
• DCP Crop Data (Corn): 41.30 Base Acres, PLC Yield 149 bu/ac
• DCP Crop Data (Soybeans): 43.44 Base Acres, PLC Yield 48 bu/ac

General Summary:

• Sign on Property: YES
• General Farm Location: South of Anita, Iowa approximately 6 miles
• Brief Legal Description: SE 1/4 of 19-T76N-R34W, except Parcel A in NW 4.83ac, Exact Legal to come from abstract.
• Parcel Numbers: 190001052004000, 190001052003000, 190001052002000, 190001052001001
• Gross Acres: 154.89
• Annual Taxes, as of 9/2022: $4,518
• Online Bidding: YES (prior registration required)
• Closing: April 21^st, 2023
• Lease: Farm is cash rented for 2023 crop year, at $260/acre ($37,151.40), which will be prorated to the date of closing, and 1^st half prorated payment credited to buyer at closing.
• Possession: Immediately upon Closing, Subject to Tenants Rights.
• Terms: Cash/Conventional, not subject to buyer financing. 10% Earnest Deposit Due day of Auction.
• Abstract: Seller will provide an abstract continued to the date of purchase, at Seller’s Expense.

 Directions to Farm:

• Take Interstate 80 to Exit 75 toward Anita.
• Turn South on White Pole Rd.  In Anita Turn South (Left) on Michigan Rd.
• Travel South to Jackson Rd (G35) and Turn West (Right).
• Turn South (Left) on 740th St and follow around the bend back West to 730th St.
• Farm is SW of the 730th St and Jackson Rd Intersection.
• Look for signs.

AUCTION DETAILS

Cass County, Iowa Land Auction

151.40 Acres M/L (Offered in 1 Tract)

Saturday, March 11, 2023 at 10 AM

Auction Location:

Anita Community Center

805 Main St

Anita, IA 50020

Online Bidding: Register to bid at www.kiloterra.bidwrangler.com

Seller’s Attorney: James W. Mailander, Mailander Law Office

Agency Disclosure: KILOTERRA and its agents are exclusive representatives of the seller.  Successful bidder(s) acknowledge they are representing themselves in the transaction and are responsible to complete the transaction if identified as the winning bidder.

Auction Method: This property will be offered via Public Auction in one individual tract on a price per acre basis through a traditional auction.  Participants may view the auction in our Virtual platform, where Online bidding will be available.  This is a Reserve Auction.  Seller reserves the right to accept or reject any and all offers.

Bidder Registration: All bidders must register with KILOTERRA and obtain a bidder number prior to the start of the auction to place a bid at the Auction. Online bidders must register with KILOTERRA and receive prior authorization 24 hours prior to the auction in order to participate.

Earnest Money Deposit: A deposit in the amount of 10% of the gross sale price is required on the day of auction.  Earnest money must be made in form of cash or check, payable to KILOTERRA Trust and will be held by KILOTERRA’s Trust Account until the day of closing.

Farm Lease and Payments: The farm is leased for the 2023 crop year.  The current rent is $260/acre, and will be pro-rated to the date of closing using an annual lease date of March 1^st.  The Winning bidder will have immediate possession, upon closing of the property, subject to Tenant’s rights.  This property is not encumbered by any CRP contracts.

Closing and Possession: Closing will occur on or before April 21^st, 2023, as agreed by the buyer and seller.  The balance of the purchase price is due at closing, in the form of cash, certified check or electronic wire transfer.  Closing will be performed by Seller’s Attorney.  Possession will be immediate upon closing, subject to tenant’s rights.

Agency Acknowledgement & Purchase Agreement: Immediately upon conclusion of the Auction, Winning Bidder(s) will sign an Agency Disclosure and Acknowledgement which indicates KILOTERRA is representing the Seller’s and Winning Bidder is representing themselves. 

Contract and Title: Winning Bidder(s) will enter a Real Estate Sales Contract with the seller, which detail the terms of the sale as outlined herein.  Winning Bidder(s) will also deposit with KILOTERRA the Earnest Money deposit.  This sale is not contingent upon Buyer Financing Approval and will be considered a Cash Transaction. The seller will provide a current abstract at their expense.

Full legal description will come from the abstract, and gross sales price will be calculated as Price Per Acre X 151.40 Acres.

Improvements: Improvements, such as but not limited to fences, buildings, terraces, tiling, etc. are in “as-is condition” and will not be further improved, updated, or replaced by the sellers prior to closing.  Note that fence lines may not be directly on the legal boundary and any desire to relocate, replace, or improve fencing or buildings shall be the responsibility of the Buyer. 

Disclosures: This sale is subject to all easements and servient estates appurtenant thereto and subject to any zoning restrictions, restrictive covenants, easements, leases, mineral reservations, and restrictions of record, if any exist.  All property is sold on an “As is – Where is” basis with no warranties expressed or implied by the Auctioneer, KILOTERRA, KILOTERRA’s agents, or the Seller.  Any announcements made day of Auction by the Auctioneer or Listing Agent(s) will take precedence over any previously published public marketing information.  Bidding increments are at the discretion of the Auctioneer and all decisions of the Auctioneer are final.

Disclaimers: Farm Program Information is provided by the United States Department of Agriculture (USDA) offices.  All field boundaries are taken from these and other sources believed by the seller and KILOTERRA to be accurate.  Values included in statements and or published marketing including but not limited to the conservation plan, gross acres, total crop acres, FSA acres, base acres, and CSR2 ratings, are believed to be reliable and are estimates by the seller and KILOTERRA.  However, it is expressed that this information are subject to change if/when the farm is reconstituted by the Cass County FSA and NRCS offices and prospective bidders acknowledge that these values may vary from figures stated within marketing material or day of auction.

Prospective Bidders shall perform their own inspection of the property prior to bidding at the auction.