34.48 Acres M/L – Selling in Two Tracts! Tract #1 – 32.98 Acres M/L – Excellent tillable farmland. Tract #2 – Home on 1.50 Acres M/L. For information contact Terry Hoenig of Steffes Group, 319.385.2000 or 319.470.7120 (cell) or Nate Larson at 319.931.3944 (cell)

The farm and house are located 1 mile north of Mediapolis, IA on Highway 61 at the intersection of 240th Street.  Home address is 12515 240th Street.  Watch for signs.

Auction to be held at the Mediapolis City Hall, 501 Main Street, Mediapolis, IA  

34.48 Acres M/L– SELLS IN TWO TRACTS

Open House on Thursday, May 19th from 5-6pm 

TRACT #1 – 32.98 Acres M/L
FSA information: 33.37 NHEL acres tillable. 
Corn Suitability Rating 2 of 83.1 (CSR 1 of 88) on the entire farm.
Located in Section 23, Yellow Spring Township, Des Moines County, Iowa.

Farm is rented for the 2016 crop year.  The buyer will receive the balance of the cash rent of $3,535, due November 1, 2016.

TRACT #2 – Two Bedroom Home on 1.50 Surveyed Acres
Home is located at 12515 240th Street, Mediapolis.

Take a look at this investment property with a potential building site right on Highway 61.  This home was built in 1920 with 676 sq.ft. of living space.  Home has a kitchen with washer/dryer hookups and a living room with carpet.  The home also has a bedroom with wood floors, ¾ bath and a smaller bedroom with carpet.

There is an enclosed back porch and an outside entrance to the basement which has a Heil gas forced air furnace, electric hot water heater & fuse box.  The home also has vinyl siding, a well and a 16’x18’ detached garage with dirt floor.  All situated on 1.43 surveyed acres.  Currently rented on a month to month basis.

Not Included: Refrigerator, Stove, Washer, Dryer, LP tank(rented), All personal property.

Terms: 20% down payment on June 2, 2016. Balance at closing with a projected date of July 18, 2016 upon delivery of merchantable abstract and deed and all objections have been met.
Possession: Tract #1 & #2 – Projected date of July 18, 2016. (Subject to tenant’s rights)
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 will be used to prorate at closing.

Tract #1
Gross              $1,224.20
Ag. Credit             (41.41)
Net                  $1,182.00 (rounded)

Tract #2
Gross              $365.52
Credit                   (2.22)
Net                  $364.00 (rounded) 

Special Provisions: 
• Tract #1 will be sold by the acre and 32.98 Acres will be the multiplier to determine the final sale price.  
• Seller shall not be obligated to furnish a survey.
• Tract #1 is selling subject to tenant’s rights and is rented for the 2016 crop year.  The buyer will receive the balance of the cash rent of $3,535.00, due November 1, 2016 and will be paid by the tenant to the buyer.
• It shall be the obligation of the buyer to serve termination to the tenant, prior to September 1, 2016, if so desired, for Tract #1
• It shall be the obligation of the buyer to report to the Des Moines County FSA office and show filed deed in order to receive the following if applicable:   A. Allotted base acres.  B. Any future government programs. 
• Buyer of Tract #1 will be responsible for installing his/her own entrance.
• Tract #2 will be sold lump sum price.
• Tract #2 is currently rented at $375 per month on a month to month basis and is selling subject to tenant’s rights.  The rent will be prorated to the date of possession.  The $375 security deposit will be transferred to the new buyer at closing.  It is the responsibility of the new buyer to give tenant notice, if so desired.   The buyer shall reimburse the tenant for the remaining gas in the LP gas tank at the current rate, upon tenant vacating property.
• 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 inspections, upgrades, repairs, maintenance or other matters to the septic system will be at the buyer’s expense in accordance with Des Moines County & Iowa Laws & regulations.
• If in the future a site clean-up is required it shall be at the expense of the buyer(s).
• The buyer(s) shall be responsible for any fencing in accordance with Iowa state law.
• 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)
• This real estate is selling subject to any and all covenants, restrictions, encroachments and easements, as well as all applicable zoning laws.
• The buyer(s) acknowledge that they have carefully and thoroughly inspected the real estate and are familiar with the premises. The buyer(s) are buying this real estate in its “as is” condition and there are no expressed or implied warranties pertaining to the same.
• Any announcements made the day of sale take precedence over advertising.

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