Golden Road, West Point, IA 52656 - Lee County

Lee County, Iowa Land Auction - Mark your calendar for Thursday, February 2nd, 2023 at 10:00 AM! Peoples Company is pleased to represent 138.50 acres m/l of farmland located in north central Lee County, Iowa with top-producing clay loam soils! Situated just east of Franklin, Iowa in Sections 30 & 32 of West Point Township, Lee County, Iowa, these three combination tracts carry above-county CSR2 soils ratings compared to the Lee County, Iowa average of 52.3.

Tract 1: 64 acres m/l containing 37.54 FSA cropland acres carrying a CSR2 soil rating of 66.

Tract 2: 39.50 acres m/l containing 32.88 FSA cropland acres carrying a CSR2 soil rating of 60.9.

Tract 3: 35 acres m/l containing 28.95 FSA cropland acres carrying a CSR2 soil rating of 58.2.

These three Lee County, Iowa farmland tracts will be offered via the "Buyer's Choice" Auction method on a price per acre basis at a public auction on Thursday, February 2nd, 2023 in West Point, Iowa. The high bidder can take, in any order, one, two, or all three tracts for their high bid, and auctioning will continue until all three tracts have been purchased and removed from the auction. Tracts will not be offered in their entirety at the conclusion of the auction. This auction can also be viewed through a Virtual Online Auction option and online bidding will be available.

AUCTION DETAILS

Lee County Land Auction

138.50 Acres M/L

Offered in Three Tracts

Thursday, February 2nd, 2023

10:00 AM Central

Auction Location:

American Legion Building

309 5th Street

West Point, IA 52656

Auction Method: The three farmland tracts will be sold on a per-acre basis and will be offered through the "Buyer's Choice Auction Method", whereas the winning bidder may elect to take one, two or three of the tracts for their high bid. The "Buyer's Choice Auction Method" auctioning will continue until all three tracts have been purchased and removed from the auction. Tracts will not be offered in their entirety at the conclusion the auction.

Bidder Registration: All prospective bidders must register with Peoples Company and receive a bidder number in order to bid at the auction.

Online Bidding: Visit our website or contact Listing Agent. Peoples Company is not responsible for loss of connectivity during live bidding.

Farm Program Information: Farm Program Information is provided by the Lee County Farm Service Agencies. The figures stated in the marketing material are the best estimates of the Seller and Peoples Company; however, Farm Program Information, base acres, total crop acres, conservation plan, etc. are subject to change when the farm is reconstituted by the Lee County FSA and NRCS offices.

Earnest Money Payment: A 10% earnest money payment is required on the day of the auction.

Closing: Closing will occur on or about Wednesday, March 15th, 2023. The balance of the purchase price will be payable at closing in the form of guaranteed check, or wire transfer.

Possession: Possession of the farm will be given at closing subject to tenant's rights.

Farm Lease: The farm is leased for the 2023 cropping season. Buyer will receive a lease credit at closing. Contact agent for details.

Contract & Title: Immediately upon the conclusion of the auction, the high bidder will enter into a real estate sales contract and deposit with Peoples Company the required earnest money payment. The Seller will provide a current abstract at their expense. The sale is not contingent upon Buyer financing.

Other: This sale is subject to all easements, covenants, leases, and restrictions of record. All property is sold on an As is Where is basis with no warranties, expressed or implied, made by the Auctioneer, Peoples Company, or Seller. All bids will be on a per acre basis. Peoples Company and its representatives are agents of the Seller. Winning bidder acknowledges that they are representing themselves in completing the auction sales transaction. Any announcements made auction day by the Auctioneer or Listing Agents will take precedence over all previous marketing material or oral statements. Bidding increments are at the sole discretion of the Auctioneer. No absentee or phone bids will be accepted at the auction without prior approval of the Auctioneer. All decisions of the Auctioneer are final.

Disclaimer: All field boundaries are presumed to be accurate according to the best available information and knowledge of the Seller and Peoples Company. Overall tract acres, tillable acres, etc. may vary from figures stated within the marketing material. Buyer should perform his/her own investigation of the property prior to bidding at the auction. The brief legal descriptions in the marketing material should not be used in legal documents. Full legal descriptions will be taken from Abstract.