Keokuk County Land Auction- SOLD for $574,750 total or $6,050/acre

Auction Details: Thursday, August 5th at 10 am | Wooden Wheels Vineyards and Winery, 1179 Highway 92, Keota, Iowa 52248

Description: 95 acres m/l of quality Keokuk County farmland being offered for sale as one parcel. The farm offers a nice balance of income producing cropland and timber for recreational use. This parcel has been well maintained in the past and the cropland is leased for the 2021 crop year.

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Listing Info & Photographs

Seller: Fleig Farm

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Matt Mann

Matt Mann

Vince Johnson

Vince Johnson

Taxes, FSA Data & Property Info

Estimated Net Taxes

$2,096/year

FSA Data

Farm Number: 6952

Tract Number: 2428

Cropland Acres: 71.20

Corn Base Acres: 47.68

Corn PLC Yield: 134 bu./acre

Oats Base Acres: 17.06

Oats PLC Yield: 47 bu./acre

Wheat Base Acres: 1.30

Wheat PLC Yield: 39 bu./acre

2021 Farm Program Election: Corn is enrolled under Price Loss Coverage Program.  Wheat and Oats are enrolled under ARC-County Program.

*Information is estimated pending reconstitution of farm by Keokuk County FSA Office. 

Legal Description

95 acres m/l-The NE ¼ NW ¼, NW ¼ NE ¼ Except 5.7 acres in the Northeast Part, North 22 acres in the NE ¼ NE ¼, all in Section 10, Township 74 North, Range 10 West of the 5th P.M., Keokuk County, Iowa. Final legal description will be determined from abstract.

Property Location

From Richland, travel north 3.5 miles on paved road W15 to 285th Street. Turn left onto 285th Street and continue west 0.5 miles and follow the gravel road south another 0.5 miles. Turn right and travel west 0.25 miles on 290th Street and the subject property will be located on the south side of the road. Look for Iowa Land Sales and Farm Management for sale signs.

Property Location

Sales Terms & Announcements

Method: This property will be offered for sale as an individual tract. Iowa Land Sales and its representatives are acting as agents of the seller. Bidding increments solely at discretion of the auctioneer.

Contract & Earnest Payment: A 10% earnest money payment is required on the day of the auction. Earnest payment may be paid in the form of cash or check. High bidder will enter into a real estate contract immediately upon the conclusion of the auction and deposit with Iowa Land Sales the required earnest payment. All funds will be deposited and held in the Iowa Land Sales trust account. Bidding not contingent on buyer financing.  If the Buyer fails to fulfill the terms of the Purchase Agreement to be executed on the day of the sale, Seller may forfeit the Agreement, and all payments made by Buyer shall be forfeited, including earnest money.

Closing & Possession: Closing will occur on or about September 2, 2021. Balance of purchase price payable in cash or guaranteed check at closing.  Possession will be granted to the buyer at closing subject to the 2021 farm lease.

The Purchase Agreement must be executed by the actual buyer or the legal representative of the Buyer on the day of the sale. In the event a potential Buyer cannot attend the auction, said Buyer can send a representative to the auction.  Said representative must be registered with the Broker at least two (2) business days prior to the auction, along with a copy of a valid, signed Power of Attorney.  Limited power of attorney forms are available upon request from the Broker. The Purchase Agreement cannot be assigned by Buyer without Seller’s written consent.

Announcements: All property is sold on an “As is, Where is” basis. No warranty or guaranty, either expressed or implied, is made by the auctioneer or seller. Sale is subject to all covenants, leases and easements of record. Conducting inspections and due diligence is the responsibility of each bidder and at their own risk. Announcements made on the day of the sale take precedence over previously printed information or oral statements.

Disclaimer: Iowa Land Sales obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only and they may not represent current or future performance of the property. You and your tax and legal advisers should conduct your own investigation of the property and transaction.