38 ac Decatur County, Iowa Land Auction

KILOTERRA is proud to offer this Decatur County, Iowa farm at Auction on behalf of owners Gary and Lori Porter.

This property lies just East of Nine Eagles State Park about 3 miles, and West of Lineville, Iowa about 10 miles.  The farm is on the North side of paved County Highway J66.  It is directly adjacent to the 198 Acre property we will have at Auction the same day and location (12 pm January 27th, Lamoni Community Center).  This tract of land offers something for the farmer, hunter, and those looking for a building site or weekend retreat. 

Decatur County, Iowa has arguably some of the best hunting in the country, and this farm has just enough timber to create those opportunities.  There is great habitat in almost every direction around this farm, and a few minor changes could certainly enhance the hunting.  Near the middle of the farm, a small watering hole is already tucked into the main draw.  Installing a food plot nearby and leaving some late season standing crops would enhance the hunting even further.

Nearly 85% of the farm is tillable, with 32.57 FSA acres all currently in row crop.  The farmer has taken exceptional care of the property, and no erosion issues were noted.  The leases have been terminated for 2022 and immediate access is available upon closing.

The rolling hills, utility access, and paved frontage make this tract of land perfect for a weekend getaway or future building site.

Smaller tracts like this are hard to find, and especially those with high percentage of income, good hunting, and great access.  So, make sure you’re in Lamoni for this Live Iowa Land Auction at 1PM on January 27^th, or register to bid online.

The Farm will be offered as one single tract.  Live and Online bidding will be available.  Absentee bidding may occur at Auctioneer’s discretion via phone bidding.  Phone bidder registration must occur prior to day of auction by contacting the Listing Agent.  Please see terms & conditions for disclosures and full details.

For additional information or questions, please contact Land Broker, Chuck Johnson at 515-442-7709

Summary

• Iowa Land Auction Time & Date: 1 PM January 27^th, 2022
• Auction Location: Lamoni Community Center; 108 S Chestnut St, Lamoni, IA 50140
• General Farm Location: West of Lineville, Iowa about 10 miles.  East of Nine Eagles State Park about 3 miles, on County Hwy J66.
• Gross Acres: 38.35 M/L
• Sign on Property: YES
• Brief Legal Description:  SW 1/4, NE 1/4 Sec 23 Hamilton Twp, Decatur County, Iowa. Exact Legal to come from abstract.
• Parcel Number: 1523200003
• Auction Method: Single Tract, Live & Online
• Adjacent to Tract 1 of the 198ac Farm also up for Auction earlier in the day, at 12PM at the Lamoni Community Center.

Directions:

From Interstate I-35, take exit 4 for US-69 toward Lamoni/Davis City.

Next, Turn Left onto US-69 N and travel 4.3 miles

Then, Turn Right onto County Road J66 and travel 6.5 miles

Turn Left to stay on Country Rd J66 and travel about 2.5 miles to property.

Farm is located on North side of Road.

Look for sign.

Terms & Conditions

38.35 Acres M/L – Decatur County, Iowa Land Auction

Time & Date: Thursday, January 27th, 2022 at 1 PM

Location: Lamoni Community Center; 108 S Chestnut St, Lamoni, IA 50140

Seller: Gary and Lori Porter

Seller’s Attorney: Verle W. Norris 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 sold as a single tract on a price-per-acre basis.

Final Sales Price:

Full legal descriptions will come from the abstract, and gross sales price will be calculated as follows: Price Per Acre X 38.35 acres

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, check, or electronic transfer and payable to KILOTERRA Trust and will be held by KILOTERRA’s Trust Account until day of closing.

Bidder Registration:

All bidders must register with KILOTERRA and obtain a bidder number prior to the start of the auction. Absentee or phone bidders must register with KILOTERRA and receive prior authorization 3 days prior to auction to participate.

Farm Lease and Payments:

The farm lease has been terminated and Winning bidder(s) will have farming rights for 2022 crop year.  Seller will retain all payments for the 2021 growing season.  Payments will not be pro-rated to the date of closing. This property is not encumbered by any CRP contracts.

Closing and Possession:

Closing will occur on or before March 10th, 2022.  The balance of 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.

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.  In addition, Winning Bidder(s) will enter a Real Estate Sales Contract with the seller, which outlines the terms of the sale as outlined herein.  Winning Bidder will also deposit with KILOTERRA the Earnest Money deposit.  Abstract updating expenses will be paid at the seller’s expense.  This sale is not contingent upon Buyer Financing Approval and should be considered a Cash Transaction.

Disclosures and Disclaimers:

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. 

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

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.  Also, to the knowledge of the Seller and KILOTERRA, all field boundaries are believed to be accurate as they were taken from sources believed to be reliable; however prospective bidders acknowledge that overall tract acres, tillable acres, etc. may vary from figures stated within the marketing materials or day of auction. 

Farm Program Information is provided by the United States Department of Agricultural (USDA) offices.  Values included in statements and or published marketing information are gathered from these and other sources believed to be reliable and are estimates by the seller and KILOTERRA; however, it is expressed that this information including but not limited to the conservation plan, total crop acres, FSA acres, base acres are subject to change if/when the farm is reconstituted by the Decatur County FSA and NRCS offices.