146th Avenue Northeast, Portland, ND 58274 - Traill County

Peoples Company is pleased to present the sale of 141.61 acres m/l of quality Traill County, North Dakota farmland through a LIVE & ONLINE AUCTION.

The farm is located in section 28 of Roseville Township in Traill County, North Dakota. Located in a strong farming community, the 141.61 acre farmland tract includes 136.52 m/l tillable acres with a productivity index of 72.1. The main soil types on this farm include Wyndmere loam, Borup silt loam, Gilby loam, and Hecla-Garborg fine sandy loam.

This farm is under contract for the 2024 cropping season. The buyer will receive all cash rents for 2024 and will be responsible for all real estate taxes in 2024. The current contract is $110 per acre on 130.9 acres m/l. The new owner will receive $10,000 on April 1, 2024 and $4,400 on November 1, 2024 for a total of $14,400 cash rent.

The farm has an exceptional location with well-established farmers and excellent access. The parcel is two miles west of County Highway 16 and directly off a maintained gravel road (1st St NE) southwest of Portland, ND. Additionally, the location of this farm provides easy access to several grain marketing facilities including Clifford Farmers Co-Op, Mayport Farmers Co-Op, Alton Terminal, Finley Farmers Co-Op, and as well as other local grain marketing options in the area.

The southeast corner of the property is a 19 acre m/l farmstead, that is NOT included in the auction sale.

This farmland tract would make for an outstanding add-on unit to an existing farm operation, a beginning farmer purchase, or an investor looking to diversify their portfolio.

This tract will be offered through a LIVE AND ONLINE AUCTION. The auction will take place on February 9th, 2023 at 3:00 PM Central Standard Time (CST) at the Norseman Hall in Portland, ND. If you are unable to bid online, accommodations can be made to participate in the auction by contacting the listing agent.

About The Tenant

The land is under contract for the 2024 crop year. The buyer will receive all 2024 cash rents and will be responsible for all 2024 real estate taxes.

Auction Details

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

Online Bidding: Register to bid on our website. Potential bidders may have access to the live auction by utilizing Peoples Company's online auction platform via the Internet. By using Peoples Company's online auction platform, bidders acknowledge that the Internet is known to be unpredictable in performance and may, from time to time, impede access, become inoperative, or provide a slow connection to the online auction platform. Bidders agree that Peoples Company nor its affiliates, members, officers, shareholders, agents, or contractors are, in any way, responsible for any interference or connectivity issues the bidder may experience when utilizing the online auction platform.

Auction Method: The farmland will be sold as one individual tract on a price-per-acre basis to the High Bidder.

Farm Program Information: Farm Program Information is provided by the Traill 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 Traill County FSA and NRCS offices.

Earnest Money Payment: A 10% earnest money payment is required on the day of the auction. The earnest money payment may be paid in the form of cash or check. All funds will be held by The Title Company, 35 4th St. N. #102, Fargo, ND 58102.

Closing: Closing will occur on or before Wednesday, March 20th, 2024. The balance of the purchase price will be payable at closing in the form of a guaranteed check or wire transfer.

Possession: Possession of the farm will be given At Closing, Subject to Tenant's Rights.

Farm Lease: This farm is under contract for the 2024 cropping season. The buyer will receive all (100%) cash rents for 2024 and will be responsible for all real estate taxes in 2024. The current contract is $110 per acre on 130.9 acres m/l. The new owner will receive $10,000 on April 1, 2024 and $4,400 on November 1, 2024 for a total of $14,400 cash rent.

Contract & Title: Immediately upon the conclusion of the auction, the high bidder will enter into a real estate sales contract and deposit with The Title 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. The winning bidder acknowledges that they are representing themselves in completing the auction sales transaction. Any announcements made on 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. The buyer should perform his/her investigation of the property before 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 the abstract or title work.