Kossuth County, Iowa 225.58 +/- Acre 2 Tract Farmland Auction

Tract #1

• 98.97 +/- Net Acres
• 98.69 +/- FSA Cropland Acres
• 81 CSR2
• Strong Farming Area
• Highly Productive Farmland 
• Crop Share Lease in Place for 2025 Growing Season
• The new buyer will need to establish a crossing across the drainage on the south side of the tract for equipment access to the northern part of this tract.
• Per the real estate agreement the tract #2 buyer will need to allow access to tract #1 buyer to harvest and transport grain for the 2025 cropping season. This is will be a a agreement made until March 1st, 2026.

Tract #2 

• 126.61 +/- Net Acres
• 120.41 +/- FSA Cropland Acres
• 78.1 CSR2
• Good Ridge Soils 
• More Cropland Acres Could Be Improved
• Crop Share Lease in Place for 2025 Growing Season

Auction Date: August 5th, 2025

Auction Time: 1:00PM

Auction Location: Bancroft Summit Center in Bancroft, Iowa

Auction Address: 204 S. Summit St. Bancroft, Iowa 50517

Sale Method: The farms will be sold at live public auction with online and phone bidding opportunities for all buyers. Tract’s #1 and Tract’s #2 will sell via the buyer’s choice method. 

Farm Lease: The farms are leased for 2025 per a share crop agreement. The new buyers for each tract will assume the current crop share lease for the 2025 crop season. The new buyer will credit the sellers for any and all expenses already paid by the seller prior to closing for the 2025 crop. These expenses will be itemized out and are to be paid the date of closing. Any future crop input cost will be issued by the current tenant to the new owner for the 2025 crop season.The crop share lease is a 50%-50% crop share lease. The new buyer will receive 50% of the crop at harvest. The new buyer is responsible for 50% of the input cost of the 2025 crop. 

Purchase Agreement: Immediately upon conclusion of the auction, 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. The remaining balance will be due at closing.

Farm Possession: Buyer will receive real estate possession at closing, subject to tenant rights. 

Farm Closing: September 17th, 2025 

Surveying: Surveys on each tract to be completed before the auction. Net acres could change slightly. Acre change announcement to be made prior to the auction. 

FSA Information: Call Land Broker Matt Skinner or Land Broker/Auctioneer Luke Skinner for any FSA information questions prior to the auction. Note all FSA information is estimated to the best of seller and Iowa Land Company ability. All information is subject to change. The farm will be subject to a new FSA conservation plan. 

Mineral Rights: All mineral rights will be conveyed 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 Broker/ Auctioneer Luke Skinner or Land Broker Matt 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 or phone bidding. 

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, its 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.