Wapello County, Iowa 435 +/- Acres Land Auction | 7 Tracts

PROPERTY DESCRIPTION

Iowa Land Company is honored to represent the Edel Family Farmland Holdings (Brent Edel – Marilyn Edel). This 435 +/- acres is located in Wapello County southwest of Ottumwa, Iowa. This productive farmland boast strong returns with cash rent and CRP income. The current CRP contracts have 8 years left on the current contract period. The farms are gently rolling with tile and terraces in place to ensure the new owner quality draining for the future. This is a great opportunity to buy quality dirt in SE Iowa that does not come up to open markets often. An option to rent the current tillable acres for $235 per tillable acres for 2020, 2021, 2022 will be offered to the new buyers.

The farm will be offered at public auction on Saturday, October 5th at 12:00pm noon Call Land Agent Jim Davis at 641-777-5484 for more information.

Tract 1 – 76.75 +/- Acres  (Breakdown of acres are below for this tract)

 76.75 +/- Cropland Acres  | CSR2 58.1 

• Gently rolling farm with tile and terrace where needed. 
• Great starter farm for a young farmer, or for a local operator to add acres to their operation/portfolio.
• No CRP Acres

Tract 2 – 79.2 +/- Acres (Breakdown of acres are below for this tract)

68.48 +/- Cropland Acres  | CSR2 55.9 

• Tile and terraced where needed
• Gently rolling farm
• CRP
  • 4.07 acres @ $196.68 = $800.48

Tract 3 –  58 +/- Acres  (Breakdown of acres are below for this tract)

49.19 +/- Cropland Acres  | CSR2 63.1

• Access from 55th Street to the north
• This tract currently offers a combination of row crop and CRP mix.
• CRP
  • 18.14 acres @ $235.52 = $4,272.33

Tract 4 –  72 +/- Acres  (Breakdown of acres are below for this tract)

68.76 +/- Cropland Acres  | CSR2 59.1

• This tract currently offers a combination of row crop and CRP.
• An easement is located through the middle of the CRP on this tract. (See photos)
  
• CRP
  • 16.9 acres @  $235.52 = $3,980.28

Tract 5 –  66.62 +/- Acres  (Breakdown of acres are below for this tract)

63 +/- Cropland Acres  | CSR2 50.2

• Excellent high tillable farm with strong ROI
• Access is from Copperhead Road and 180th Ave
• No CRP Acres

Tract 6 –  39 +/- Acres  (Breakdown of acres are below for this tract)

37.17 +/- Cropland Acres  | CSR2 54.9

• A great mix of row crop and CRP
• A pond is located on the east side of the farm
• CRP
  • 17.38 acres @ $196.68  = $3,418.29

Tract 7 –  39 +/- Acres  (Breakdown of acres are below for this tract)

28.48 +/- Cropland Acres  | CSR2 33.1

• CRP expires in 2027
• Combination farm that offers many possibilities for the recreation minded buyer. 
• CRP
  • 26.8 acres @ $196.68 = $5,271.02

Auction Date: Saturday October 5th

Auction Time: 12PM Noon

Auction Location: Ottumwa Bridge view Center

Auction Address: 102 Church St, Ottumwa, IA 52501

Sale Method: The tracts will be offered for sale via live public auction sold using “PER TRACT” method.

Survey: Survey to be paid for by the seller(s). 

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 seller’s attorney trust account. Remaining balance will be due at closing.

Farm Possession: The farm is rented for the 2019 farming season. Buyer(s) will receive  pro-rated cash rent income credit at closing. 2020 farming season will be open for the buyer(s) (option to lease for $235 per acre on acres currently in production for 2020, 2021, 2022.)

Farm Closing: November 15th

FSA Information: Call Land Agent Jim Davis 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.

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. Call Land Broker Jim Davis or Nick Skinner prior to the sale if you are unable to attend the sale but have interest in the farm. *** All online bidder registration online should be done 48 hours prior to sale time***

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 makes 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 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 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.