Poweshiek County Land Auction – SOLD $1,531,800 or $11,100/acre

Auction Details: Thursday, August 27th @ 10 am || Malcom Auditorium, 212 Main Street, Malcom, Iowa 50157

Description: 138 acres m/l of Poweshiek County land for sale. This is a high-quality farm with a 91.5 CSR2 that has been family owned for the past several years. The property lies directly north of Interstate 80 and 3 miles west of Malcom. The farm will have an open lease for the 2021 crop year.

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Matt Mann

Matt Mann

Vince Johnson

Vince Johnson

Taxes, FSA Data & Property Info

Estimated Net Taxes


FSA Data

Farm Number: 949

Tract Number: 10519

Cropland Acres: 137.93

Corn Base Acres: 66.94

Corn PLC Yield: 157 bu./acre

Soybean Base Acres: 44.57

Soybean PLC Yield: 56 bu./acre

Farm Program Election: Corn is Price Loss Coverage and Soybeans are ARC-County.

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

Legal Description

Poweshiek County – 138 acres m/l in the Northeast ¼ of Section 32, Township 80 North, Range 15 West of the 5th P.M., Poweshiek County, Iowa.

Property Location

From Interstate 80, take Malcom Exit and travel north for approximately 0.5 miles. Turn west onto 2nd Street and travel ½ mile. Turn south onto Webster Street and follow road when it curves west into 410th Avenue. Continue west on 410th Avenue 2.75 miles and property will be located on the south side of the road. Iowa Land Sales & Farm Management for sale signs will be located on property.

Property Location

Sales Terms & Announcements

Method: 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. Final sale is subject to approval or rejection by seller. Seller reserves right to refuse any and all bids.

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 October 1, 2020. Balance of purchase price payable in cash or guaranteed check at closing.  Possession will be granted to the buyer at closing, subject to the possessory rights of tenant for the 2020 crop year.

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.