Grundy County, Iowa 89 +/- Acres – Now Sealed Bid Sale

Farm Information 

• Located in Southeast Grundy County
• Located 5 miles southeast of Grundy Center, Iowa
• Located 2 miles southwest of Morrison, Iowa
• Located 6 miles west of Reinbeck, Iowa. 
• Located on hard surface Highway T47 and 260th Street (E Reinbeck Street)
• 88.29 +/- FSA NHEL Cropland Acres
• 91.7 CSR2
• Majority soil type is Tama Silty Clay Loam
• We were told by a reputable source that tile is present in both waterways on the west half of the farm and also is located in the east half of the farm. We do not have tile maps at this time.   
• Farm field access is in the NW corner of this farm off 260th Street
• Utility Building 24’ x 48’ Built in 1900
• Corn Crib 28’ x 38’ Built in 1900

Sellers: Craig A. Smoldt Revocable Trust

Auction Date: December 9th, 2022

Auction Time: 1:00 PM

Auction Location: Reinbeck Memorial Building

Auction Address: 208 Broad St, Reinbeck, IA 50669

Sale Method: The farm will be sold as one tract at live public auction with online and phone bidding available.

Farm Lease: The farm is leased for the 2022 & 2023 agriculture season. The 2023 agriculture lease breakdown is as follows: $450/tillable acre cash rent, $355/tillable acre will come from the tenant on March 1st 2023, $95/tillable acre credit from the seller at closing. Full possession will be March 1st, 2024.

Survey: No survey will be completed prior to the closing date. We will be selling +/- gross acres.

Purchase Agreement: Immediately upon conclusion of the auction, if the seller’s reserve amount has been met, the high bidder will enter into a real estate sales contract and deposit with the seller’s attorney the required earnest money payment. The Seller will provide a current abstract at their expense. Sale is not contingent upon Buyer obtaining financing.

Earnest Money: 10% earnest money payment is required on the day of the auction. All funds will be held in the sellers’ attorney trust account. Remaining balance will be due at closing.

Farm Possession: Full possession once closed on the property will be March 1st, 2024

Farm Closing:  January 19th, 2023

FSA Information: Call Land Agent Nick Skinner or Land Broker Cody Skinner for any FSA information questions prior to the auction. Note all FSA information is estimated to the best knowledge of the seller and Iowa Land Company. All information is subject to change. Farm will be subject to a new FSA conservation plan.

Mineral Rights: All mineral rights owned by the seller will convey to the buyer.

Bidder Registration: All active bidders must be registered prior to bidding on the farm. All bidders must have a bid card to bid on the farm. Call Land Agent Nick Skinner or Land Broker Cody Skinner prior to the sale if you are unable to attend the sale but have an interest in the farm. We do have online bidding available. You must sign up for online bidding at least 24 hours before the sale unless special arrangements have been made with Iowa Land Company. 

Terms and Conditions: This sale is subject to all easements, covenants, restrictions of record, and leases. Each Bidder is responsible for conducting, at their own risk, their own inspections, inquiries, and due diligence concerning the property. All property is sold “AS IS-WHERE IS” basis with no warranties or guarantees, either expressed or implied by the Seller or Iowa Land Company.

Announcements: Information provided herein was obtained from sources deemed reliable, but neither Iowa Land Company nor the Seller make any guarantees or warranties as to its accuracy. All potential bidders are urged to inspect the property, it’s condition, and to rely on their own conclusions. All sketches, dimensions, and acreage figures are approximate or “more or less”. Any announcements made auction day by Iowa Land Company will take precedence over any previously printed materials or oral statements. Iowa Land Company and Seller reserve the right to preclude any person from bidding if there are any questions as to the person’s credentials or fitness to bid.