Iowa Land Company is proud to represent the Robert A. Krause Estate Located in Palo Alto County. 146 +/- acres located in section 12 Independence TWP. The farm will be offered in one tract at live public auction on October 18th 2018 at 11 am at the Fenton Iowa community building. The farm is located two miles Northwest of Fenton, IA in Northeast Palo Alto County. Other counties in close proximity are Emmett and Kossuth County. Canisteo clay loam, Clarion loam, and Nicollet clay loam soils make up the majority of this tract. The farm carries a 76 CSR2 and has tile in place where needed. There is currently 145 NHEL cropland acres. The farm is currently 99% tillable. There are multiple grain facilities nearby with State-line Co-op with the closest being in Fenton, IA. Invenergy Wind Farms, has a 35 years easement in place on the farm that is currently paying $730 annually on the potential surveyed acres. This payment will be $1460 annually when construction is started. Contact Land agents Matt Skinner or Luke Skinner to setup a private showing.
Price Loss Coverage
(Current figures from FSA documents)
Corn 70.0 +/-
(Current figures from FSA documents)
145 FSA Cropland Acres
Farm is currently leased for 2018
Auction Date: October 18, 2018
Auction Time: 11 AM
Auction Location: Fenton, IA Community Building
Auction Address: 721 Maple St. Fenton, IA 50539 (Building located on NW side of town)
Sale Method: The farm will be sold in one tract by live public auction. (Subject to survey)
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. Remaining balance will be due at closing.
Farm Possession: Full possession will be after successful closing. Subject to tenants rights.
Farm Closing: November 30th, 2018
FSA Information: Call Land Agent Matt Skinner or Luke Skinner for any FSA information questions prior to auction. Note all FSA information is estimated to the best knowledge of both seller and Iowa Land Company. All information is subject to change. (Farm documents will be reconstructed following a new farm survey)
Mineral Rights: All mineral rights 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.
Farm Lease: Farm is currently leased for the 2018 farming season.
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, inquires, 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 it’s accuracy. All potential bidders are urged to inspect the property, it’s condition, and to rely on their own conclusion. 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 previous printed materials or oral statements. Iowa Land Company and Seller reserve the right to preclude any person from bidding if there is any questions as to the person’s credentials or fitness to bid.