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Auction Information

Delaware County Farmland Auction

Tue Aug 02 - 01:00PM


610 Bush St, Lamont, IA Click to Map


Northeast Iowa Auction Co.

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Auctioneer ID#: 22987

Phone: 563-419-4561

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    Attached Files    
Printable Sale Bill (PDF)
Soil Maps (PDF)

Delaware County Farmland Auction

165 Acres m/l to be offered in two Tracts

Tuesday, August 2nd 2022 1:00 pm

This will be a live auction with internet presale bidding available


Auction Location: American Legion Hall located at 610 Bush St., Lamont, IA


Location of Land: The farms are located 1 mile north of Lamont, IA on Hwy 187 then 3 mile east on C57 (120th St) then ½ mile north on 110th Ave.



This auction will offer quality Delaware County Farm and Recreational land

Tract 1. west of road (110th Ave.) consist of 74.14 surveyed acre in section 7 of Richland Township. Tax Parcel ID 080070001900 and 080070002010. It has a (corn suitability rating) CSR2 0f 62.4 and cropland of64.72 acres. There is 2.2 acres in Forest Reserve and 3.0 acres of non-crop. Tract 1 is leased for the 2022 crop year and the buyer will receive the last half of the 2022 rental payment in the amount of $9,351.80. Estimated annualnet real estate taxes are $1726.00.

 

Tract 2. east of the road (110th Ave.) consist of 90.8 surveyed acres in section 8 of Richland Township. Tax parcel ID 080080000510. It has a (corn suitability rating) CSR2 of 49.2 and cropland of approximately 88.8acres. There is 2 acres of non-crop. Tract 2 is leased for the 2022 crop year and the buyer will receive the last half of the 2022 rental payment in the amount of $11,453.23. Estimated annual net real estate taxes are $1852.00




FSA information: Farm # 1533 (both tracts 1 and 2). The land is classified as (HEL) Highly erodible land and the tract does not contain a wetland as stated on 2022 FSA-156EZ. The land is currently enrolled in the USDA ARC/PLC farm program. There is 89.5 acres of corn base with a 127 PLC yield, 19.5 acre soybean base with a 40 PLC yield, and 6.0 acres of oats base with a PLC yield of 64.


Method of Sale: The land will sell by choice of either tract of land with the privilege of the high bidder, buying both tracts. The land will be sold by the surveyed acres times the bid price. All bidders will need a “Banks Letter of Credit” to register for a biding number.


Terms: The high bidder to pay 10% of the purchase price as a non-refundable down payment to the closing 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 September 16, 2022, contingent upon buyer ‘s title opinion being completed by anticipated closing date. Real estate taxes will be prorated to date of closing. Since the farms are leased for 2022, early possession will be granted to the buyers on November 10th 2022. Bidders are purchasing with no financing contingencies and must be prepared for cash settlement of their purchase. The closing attorney will be John Compton of Strawberry Point, IA. This sale is subject to confirmation of the sellers.



Carolyn Bergfeld, John Kash, Shae Kerns,

Rodney Trimble, and Regina Miles-Owners


Auction conducted by: Northeast Iowa Auction Co.

David & Sue Burrack

Arlington, IA 563-419-4561


Web Site: www.northeastiowaauction.com

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.



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