Presenting 153.35 acres m/l of high quality farmland to be sold at public auction! The auction will take place on Thursday, December 12, 2019 at 10:00 AM at the Stanhope Community Center in Stanhope, Iowa.
The farm is located 1 mile north and 1 1/2 miles east of Stanhope, Iowa on County Highway D56 (330th St.). There are 146.12 acres currently being farmed and 3.74 acres enrolled in CRP for a total of 149.86 FSA tillable acres with a CSR2 of 75.5. The 3.74 acres of CRP are enrolled at $300.69 per acre with the contract expiring on 09/30/2026. Primary soil types include Brownton, Ottosen and Kossuth clay loam. Multiple grain marketing options are nearby. The farm was in beans for 2019 and is open for the 2020 crop season. Tile maps are available and the county drainage ditch has recently been cleaned out. Electric runs along the South and East side of the property and rural water is available. Great investment opportunity to start or expand a farm operation!
The Northwest Quarter (NW 1/4) Southeast Quarter (SE 1/4) and the South Half (S 1/2) of the Southeast Quarter (SE 1/4) except Auditor Parcel C and the Southeast Quarter (SE 1/4) of the Southwest Quarter (SW 1/4) except LTS all in Section 28 Township 87 North Range 25 West of the 5th PM in Hamilton County, Iowa. Exact legal will be taken from the abstract.
FSA Cropland - 149.86 acres
Corn - 72.4 base acres with a PLC Yield of 127
Soybeans - 46.47 base acres with a PLC Yield of 30
CRP Information: 3.74 acres
Contract - CP42 expires 9/30/2026
Payment - $300.69 per acre for an annual payment of $1,125
From I-35 Take Exit 133 toward Jewell and turn west IA-175 W. Travel for approximately 3.8 miles and turn North onto Little Wall Lake Rd/Main St. then turn West onto Carmichael St., then back North on to 2nd St./Division St., then back West onto Lyon St. Stay on Lyon St. for approximately 5.7 miles and the farm is situated on the Northwest corner of 330th St. and Lakin's Grove Ave.
Hamilton County Land Auction
153.35 m/l acres
Thursday, December 12th, 2019
Stanhope Community Center
600 Main St.
Stanhope, IA 50246
Sale Method: Property will be offered as one individual tract. All bids will be on a price per acre basis.
Farm Program Information: Farm Program Information is provided by the Hamilton County Farm Service Agencies. The figures stated in the marketing material are the best estimates of the Seller and Peoples Company; however, Farm Program Information, base acres, total crop acres, conservation plan, etc. are subject to change when the farm is reconstituted by the Hamilton County FSA and NRCS offices.
Earnest Money Payment: A 10% earnest money payment is required on the day of the auction. The earnest money payment may be paid in the form of cash or check. All funds will be held in Peoples Company’s Trust Account.
Closing: Closing will occur on or about Monday, January 27, 2020. The balance of the purchase price will be payable at closing in the form of cash, guaranteed check, or wire transfer.
Possession: Possession of the farm will be granted at closing, subject to tenant’s rights.
Farm Lease: The current farm lease has been terminated. Farm will be open for the 2020 season.
Contract & Title: Immediately upon conclusion of the auction, the high bidder will enter into a real estate sales contract and deposit with Peoples Company the required earnest money payment. The Seller will provide a current abstract at their expense. Sale is not contingent upon Buyer financing.
Bidder Registration: All prospective bidders must register with Peoples Company and receive a bidder number to bid at the auction.
Other: This sale is subject to all easements, covenants, leases, and restrictions of record. All property is sold on an “As is – Where is” basis with no warranties, expressed or implied, made by the Auctioneer, Peoples Company, or Seller. All bids will be on a per acre basis. Peoples Company and its representatives are agents of the Seller. Winning bidder acknowledges that they are representing themselves in completing the auction sales transaction. Any announcements made auction day by the Auctioneer or Listing Agents will take precedence over all previous marketing material or oral statements. Bidding increments are at the sole discretion of the Auctioneer. No absentee or phone bids will be accepted at the auction without prior approval of the Auctioneer. All decisions of the Auctioneer are final.
Disclaimer: All field boundaries are presumed to be accurate according to the best available information and knowledge of the Seller and Peoples Company. Overall tract acres, tillable acres, etc. may vary from figures stated within the marketing material. Buyer should perform his/her own investigation of the property prior to bidding at the auction. The brief legal descriptions in the marketing material should not be used in legal documents. Full legal descriptions will be taken from abstract.
Brokers Protected: Clients must be registered with a listing broker at least 48 hours prior to start of auction. Participating brokers please contact auctioneer for details and forms.