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Auction Information
Auctioneer Northeast Iowa Auction Co. 563-633-4562
Auction Date Nov 03 Auction
Wadena American Legion
Main St.
Wadena, IA
Time 01:30PM
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Auction Listing
AuctionZip Auctioneer ID# 22987
    Property Address    
Aztec Rd.
Elgin, IA 52142
    Attached Files    
Printable Sale Bill (PDF)
Printable Maps (PDF)

Fayette & Clayton County Farmland, Pasture Land, & Recreational Land Auction

120 acres +/- selling as one parcel


Friday, November 3rd, 2017   1:30 p.m.

 Location of Auction: American Legion Hall, Main Street, Wadena, IA


Location of Land: 

The land is located approximately 10 miles west of Elkader or 12 miles east of West Union on Hwy 56 the 1 mile south on Aztec Rd.  .  80 acres is located in section 12 of Illyria Township, Fayette, Co. and an adjoining 40.7 acres is located in section 7 of Highland Township, Clayton Co.


Legal Description: The East half of the Southeast Quarter of section 12, Township 93 North, Range 7, West of the 5th P.M., Fayette county, Iowa and the Southwest Quarter of the Southwest Quarter of Section 7, Township 93 North, Range 6 West of the 5th P.M., Clayton County, Iowa


Auctioneer’s Note:

Land buyers, here is a farm that offers beautiful landscape views, spring fed streams and highly productive tillable land.  The Thompson farm would be a great addition to any farm for row crops and pastureland or would make a very nice recreational farm with great income potential from the utilization of the tillable acres and salable timber logs. Abundant wildlife thrive in this area of Iowa and many trophy deer and turkeys have been harvested on and close by to the Thompson farm.


FSA information:  Farm number 3642, tract numbers 2639 & 2640.  Tillable acres 47.38.  Ag data tillable acres 54.69


Method of Sale:  The property will be sold by the taxable acres (120.7) times the bid price.  All bidders will need a “Banks Letter of Credit” to register for a biding number.


Terms:  The successful bidder to pay 10% of the purchase price as a non-refundable down payment to the estates attorney real estate trust account on sale date. Buyer will sign a Real Estate Sales Agreement that call for the unpaid balance  to be paid in full on delivery of merchantable abstract of title and deed which is anticipated  to be on or before December 22, 2017 contingent upon buyer‘s title opinion being completed by anticipated closing date.  Real estate taxes will be prorated to date of closing.  Current annual gross real estate taxes are $1,556.07.  Possession at the time of closing.  The new owner will be able to farm the land in 2018 as the current leases have been terminated.  Seller to retain 100% of the 2017 cash rents.  Bidders are purchasing with no financing contingencies and must be prepared for cash settlement of their purchase. Closing to be handled by Attorney for the estate Wayne Saur of Oelwein, IA.  This sale is subject to confirmation of the seller.



 Lavanda Thompson Estate-Owner

Wadena, IA

Brian Thompson- Executor of Estate

PH. 563-608-1194




Auction conducted by:  Northeast Iowa Auction Co.

                                David & Sue Burrack

                                 Arlington, IA  563-633-4562


Web Site:

Auctioneer: David Burrack


Information in this brochure was gathered from reliable sources but seller or Auction Company makes no guarantee of accuracy and invites all interested parties to do their own investigation.  Drive by inspections are welcome at any time, a drone fly over video is available on this site, or for a walking tour of the farm contact Brian Thompson or the auction firm.







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