Wayne County, Iowa 80 +/- Acres Land Auction | 2 Tracts

Farm Information

Tract 1 – 19.5 +/- Gross Acres (Subject to Survey)

• 18.04 +/- FSA Cropland Acres
• 43.1 CSR2
• Multiple building site locations
• The farm is rented for $585 annually. This rent will be prorated to the day of closing.

Tract 2 –  60.5 +/- Gross Acres 

• Thick hedge timber – outstanding whitetail deer habitat. 
• Good pasture farm
• Nice building site
• Pond
• Creek runs through farm
• Nearly ¾ mile road frontage
• The farm is rented for $1,815 annually. This rent will be prorated to the day of closing.

Auction Date: June 30th, 2022

Auction Time: 5:00 PM

Auction Location: Wayne County Fairgrounds Event Center

Auction Address: 800 2nd Ave. Corydon, IA 50060

Sale Method: We will establish a high price on tract 1 and post the bid. We will establish a high bid for tract 2 and post the bid. We will then put tract 1 and tract 2 together (the entire 80 acre farm) at the end and start bidding at the lump sum dollar amount of tract 1 and tract 2. If the 80 acre farm exceeds tract 1 and tract 2 high bid we will open bidding up again on tract 1 and tract 2. We will exhaust all bids until we have reached a high bid resulting in selling the farm as a whole or selling tract 1 and tract 2 separately. The farm will be sold at live public auction with in person bidding, online bidding, and phone bidding.

Farm Lease: The entire 80 acres has a pasture lease on the property through February 28th, 2022. The 2023 agricultural lease will be open to the new buyer(s)

Reserved Items on Farm: Cattle panels, Creep Feeder, T- Posts, cattle working chute, and gates. Reserved items will be removed from the farm by March 1, 2023.

Survey: Tract 1 will ONLY be surveyed if the farms are sold separately and not sold as one 80 acre farm. Tract 2 will NOT be surveyed, we will exempt tract 1 from the current legal description to create a new legal description for tract 2.

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: Buyer will receive real estate possession at closing subject to tenants rights. Full possession will be March 1, 2023. 

Farm Closing: August 7th, 2022.

FSA Information: Call Land Broker Matt 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 Broker Matt 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.