LARGE IDA & CHEROKEE COUNTY IOWA LAND AUCTION

Holstein & Ida Grove, Iowa
Auction to be held at Cobblestone Inn & Suites, 2011 Indorf Ave, Holstein, IA 51025

LIVE – MONDAY, AUGUST 29, 2022 AT 1PM

Open House on Tract 4 on Monday, August 15th from 1- 2PM

400 Acres M/L – Sells In 5 Tracts

93.5 CSR2! – Selling Free and Clear for 2023 Farming Season

Online Bidding Available!

Auctioneer’s Note:  Very few opportunities exist to purchase investment quality Iowa farmland with 93.5 CSR2!  The Schmidt Estate land has been held for several generations and is now being offered at LIVE public auction.  Varying tracts of land being offered to suit your investment or farming needs.

“Selling Choice with the Privilege”
Tracts 1-5 will be sold price per deeded acre and will be selling Choice with the Privilege. Whereas the high bidder may choose any Tract or Tracts or all Tracts or any combination of Tracts, in any order, times their high bid. This will continue until Tracts 1-5 are sold.  Tracts will not be recombined.

Tract 1 – 40 Deeded Acres M/L
Located 2 miles west of Ida Grove, IA on Highway 175, farm access is on Hillside Way.
FSA indicates: 39.22 NHEL acres tillable.
Corn Suitability Rating 2 is 93.5 on the tillable acres.
Located in Section 16, Corwin Township, Ida County, Iowa.
View FSA info
View Tract 1 – Soil Map

Tract 2 – 80 Deeded Acres M/L
Located 3 miles west of Holstein, IA on Highway 20, then 1 mile north on Carriage Ave.
FSA indicates: 76.62 acres tillable.
Corn Suitability Rating 2 is 86.2 on the entire farm.
Seller states some tiling has been done as waterways are now farmed & not reflected on FSA tillable acres.
Located in Section 29, Griggs Township, Ida County, Iowa.
View FSA info
View Tract 2 – Soil Map

Tract 3 – 40 Deeded Acres M/L
Located 4 miles north of Holstein, IA on Highway 59, then 1 mile west on 110th Street.
Approx.: 36.5 acres tillable.
Corn Suitability Rating 2 is 87.2 on the entire farm.
Located in Section 10, Griggs Township, Ida County, Iowa.
View FSA info
View Tract 3 – Soil Map

Tract 4 – 80 Deeded Acres M/L
Located 4 miles north of Holstein, IA on Highway 59, then ¾ miles west on 110th Street to 5336 110th Street.
Approx.: 73.5 acres tillable.
Corn Suitability Rating 2 is 87.2 on the tillable acres.
This tract has a farmstead site with an older set of buildings to include a barn, open faced hog shed, small machine shed & uninhabitable mobile home.  Currently there is a shared well with the adjoining property to the east which will not be continued.  If Buyer desires water, Buyer will be responsible for drilling a new well.
Located in Section 10, Griggs Township, Ida County, Iowa.
View FSA info
View Tract 4 – Soil Map

Tract 5 – 160 Deeded Acres M/L
Located 6 miles north of Holstein, IA on Highway 59, then ¾ miles west on 650th St.
FSA indicates: 113.03 acres tillable.
Corn Suitability Rating 2 is 79.4 on the tillable acres.
Located in Section 34, Silver Township, Cherokee County, Iowa.
This tract has a cattle setup with a set of buildings to include an open end cattle barn, two older barns, a well with tile line overflow & electric.
Included: Concrete fence line feed bunks, 2 waterers, Attached fencing.
Not included: Cattle chute, Cattle tub, Bale feeders, Equipment of tenant’s.
View FSA info
View Tract 5 – Soil Map

Terms: 10% down payment on August 29, 2022. Balance due at final settlement with a projected date of October 13, 2022, upon delivery of merchantable abstract and deed and all objections have been met.
Landlord’s Possession: Projected date of October 13, 2022 (Subject to tenant’s rights on the tillable & pasture land).
Real Estate Taxes: To be prorated to date of possession on the basis of the last available tax statement. Seller shall pay any unpaid real estate taxes payable in prior years. 

The following taxes are approximate and will be used to prorate at closing:
Tract 1 – Tax parcels 08-16-327, 08-16-353 – $1,288.00 Net
Tract 2 – Tax parcels 02-29-376, 02-29-351 – $2,192.00 Net
Tract 3 – Tax parcel 02-10-226 – $1,166.00 Net
Tract 4 – Tax parcels 02-10-201, 02-10-276 – $2,366.00 Net
Tract 5 – Tax parcels 1534100001, 1534100002, 1534100003, 1534100004, 1534100005 – $3,746.00 Net

Special Provisions:

• This real estate auction will have a 5% buyer’s premium. This means the buyer’s premium in the amount of five percent (5%) of the bid amount shall be charged to the Buyer and added to the bid amount to arrive at the total contract purchase price.
• The farm is rented for the 2022 farming season. Seller will retain 100% of the cash rent for 2022.
• Seller shall serve termination to the tenant, therefore the land will be selling free and clear for the 2023 farming season.
• It shall be the obligation of the Buyer to report to the appropriate County FSA office and show filed deed in order to receive the following if applicable: A. Allotted base acres. B. Any future government programs. C. Final tillable acres will be determined by the FSA office, as some fields are combined and/or overlap Tract lines.
• Tracts 1 – 5 will be sold by the acre with deeded acres being the multiplier for said tracts. Seller shall not be obligated to furnish a survey.
• Due to this being an Estate, the Seller will be exempt from Time of Transfer Inspection of the septic, according to Iowa Code 455B.172(11). Any future inspections, upgrades, repairs, maintenance or other matters to the septic system will be at the Buyer’s expense in accordance with Ida County & Iowa Laws & regulations.
• This auction sale is not contingent upon Buyer’s financing or any other Buyer contingencies.
• If a Buyer is unable to close due to insufficient funds or otherwise, Buyer will be in default and the deposit money will be forfeited.
• If one Buyer purchases more than one tract, the Seller shall only be obligated to furnish one abstract and deed (husband & wife constitute one Buyer).
• The Buyer shall be responsible for any fencing in accordance with Iowa state law.
• The Buyer shall be responsible for installing his/her own entrances if needed or desired.
• If in the future a site clean-up is required, it shall be at the expense of the Buyer.
• All mineral rights, if any, held by Seller will be transferred to Buyer upon closing.
• This real estate is selling subject to any and all covenants, restrictions, encroachments and easements, as well as all applicable zoning laws.
• The Buyer acknowledges that they have carefully and thoroughly inspected the real estate and are familiar with the premises. The Buyer is buying this real estate in its “as is” condition and there are no expressed or implied warranties pertaining to the real estate.
• All drawings, lines and boundaries are approximate.
• Steffes Group, Inc. is representing the Seller.
• Any announcements made the day of sale take precedence over advertising.

Seller: Bruce E. Schmidt Estate
Tamara Wolverton – Executor
Gary W. Armstrong – Closing Attorney for Seller

For information contact Mason Holvoet of Steffes Group at 641.423.1947 or 319.470.7372

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