Absolute Cass County, Iowa Land Auction

Mark your calendar for Thursday, December 16th, 2021 at 10:00 am. 

KILOTERRA is proud to represent the Eden Family in the sale of their diverse Cass County farm.  The property consists of 80 total acres m/l carrying CSR2 ratings up into the high 60’s on the FSA acres and includes nearly 30 acres of high-quality pasture.  The farm is located approximately 6 miles south of Anita, in Section 30 of Lincoln Township and will be offered at public auction in two tracts using the “Buyer’s Choice” method, with no reserve.

This property is perfect for an add-on unit to an existing farm operation or for a beginning farmer.  Of the total 80 Acre M/L farm, 54.35 acres are considered FSA farmable and carry a CSR2 of 57.1.  Currently, 40.97 Acres M/L are in row crop production, carrying a CSR2 rating of 53.3 and the balance is in Pasture and waterways.  The existing long-term tenant has taken great care of the property, utilizing No-Till planting techniques in a corn / bean rotation on the tillable acres, and rotational grazing of the pasture.

This farm will sell day of Auction, so come ready to bid!

Tract 1: 50 Acres M/L (subject to survey) with an estimated 40.97 FSA cropland acres carrying a CSR2 of 53.3 CSR2, and balance in waterways.

Tract 2: 30 Acres M/L (subject to survey) all in pasture, including an estimated 13.20 FSA acres carrying a CSR2 of 68.7 CSR2

The farm lease has been terminated for the 2022 crop growing year on both tracts, with an effective date of March 1st, 2022.  The new buyer will take immediate possession, on day of closing, subject to the tenant’s rights.

Both Tracts will be offered via Public Auction at 10 AM on December 16th, 2021, at the Anita Community Center, 805 main street Anita, Iowa 50020.  The Farm will be offered as two individual tracts via “Buyer’s Choice” method on a price-per-acre basis.  The Winning Bidder will select any or all tracts of their preference for purchase and the tract(s) will be marked as sold.  “Buyer’s Choice” method of auction will continue until all tracts are sold.  Tracts will not be combined for offer at the end of the auction.  Absentee bidding may occur at Auctioneer’s discretion via phone bidding.  Registration must occur prior to day of auction by contacting Listing Agent, Zack Wahlert at 712-254-0879.

USDA Information:

• Farmland Acres: 76.46
• Cropland Acres: 54.35
• DCP Cropland: 54.35
• Corn Base Acres: 20.5 with PLC Yield of 149

General Summary:

• Auction Time & Date: 10 AM December 16th, 2021
• Auction Location: Anita Community Center 805 Main St, Anita, IA 50020
• General Farm Location: South of Anita, Iowa approximately 6 miles
• Brief Legal Description: 80 Acres M/L in E ½, NE ¼ Section 30 of Lincoln Twp. Exact Legal to come from abstract.
• Parcel Numbers: 190001054001000, 190001054002000
• Auction Method: 2 Tracts, Offered Buyer’s Choice
• Absentee Bidding: YES (prior registration and approval required)
• Sign on Property: YES
• Annual Taxes: $1,618
• Lease: Terminated, effective March 1st 2022. Open for 2022 Crop Year.
• Closing: January 28th, 2022
• Possession: Immediately upon Closing, Subject to Tenants Rights
• Terms: Cash/Conventional, not subject to buyer financing. 10% Earnest Deposit Due day of Auction.
• Survey: Seller to provide survey if tracts are sold to multiple buyers. If single buyer purchases both Tracts, no survey will be provided.
• Abstract: Seller will provide an abstract continued to the date of purchase, at Seller’s Expense

 

AUCTION TERMS & CONDITIONS

Absolute Cass County, Iowa Land Auction

80 Acres M/L, Offered in 2 Tracts

Time & Date: Thursday, December 16^th, 2021 at 10 am

Location: Anita Community Center, 805 Main St, Anita, IA 50020

Seller: Jay Eden

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 is an Absolute, No-Reserve, auction.  All tracts will sell day of auction to the highest Bidder.  All tracts will be offered on a price per-acre basis through the “Buyer’s Choice” method.  Winning bidder will have the opportunity to take any or all tracts with their high bid, in any order.  Auction will continue until all tracts have been purchased.  Tracts will not be combined and offered in their entirety at the conclusion of the auction.

Available Tracts:

*Tract 1: 50 Acres M/L

*Tract 2: 30 Acres M/L

*If purchased separately, a survey will be completed at the seller’s expense to finalize the gross acres.  If purchased by a single buyer, the seller will not provide a survey.

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 day of closing.

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. 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, effective March 1^st, 2022, and Winning bidder(s) will have farming rights for 2022 crop year.  Seller will retain all payments for lease period ending March 1^st, 2022, and payment 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 January 28^th, 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, 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.  In addition, Winning Bidder(s) will enter a Real Estate Sales Contract with the seller, which outlines the terms of the sales as outlined herein.  Winning Bidder(s) will also deposit with KILOTERRA the Earnest Money deposit.  Survey, if any, and 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.  Full legal descriptions will come from the abstract, and gross sales prices will be calculated based on surveyed acres, or in the case a single bidder purchases both tracts, then the sale price will be calculated on Price Per Acre X the Gross Acres as provided by Cass County Assessor.

Farm Program Information is provided by the United States Department of Agricultural (USDA) offices.  Values included in statements and or published marketing information are pulled 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 Cass County FSA and NRCS offices.