7109 T Avenue , Oelwein, IA 50662(Fayette County)

This 80-acre m/l farm consists of 75.47 FSA cropland acres carrying a CSR2 of 89.4 and an acreage site along paved T Avenue boasting a wealth of potential. Of the cropland acres, 72.34 acres m/l are currently planted to alfalfa. The soil types on this farm are some of the best in the area and include Kenyon, Clyde & Readlyn loams. The acreage site includes a 1,116 square foot 1-1/2 story home built in 1900 and multiple outbuildings. The three-bedroom, one-bath home features a newer roof and siding. The farmland acres are designated as NHEL (Non-Highly Erodible Land) and have been extensively tiled over the years including over 20,000 linear feet of pattern tile on the northern portion of the farm. There is a tile agreement in place with the neighboring landowners to ensure access for future tile repair. The farm is conveniently located along T Avenue and 70th Street allowing for quick access to multiple grain markets including a quick eight-mile haul to the Fairbank POET ethanol plant. The farm lease continues through the 2024 growing season. The property is located between Oelwein & Westgate in Section 35 of Fremont Township in Fayette County, Iowa.

Open House: An open house will take place on Thursday, August 31st from 4-7 PM

In addition to attending the sale in person, the land auction can also be viewed through our Virtual Online Auction platform with online bidding via the Peoples Company website.

AUCTION DETAILS

Fayette County Land Auction

80 Acres M/L (Offered in One Tract)

Tuesday, September 12th, 2023 at 10:00 AM

Auction Location:

Westgate American Legion Post 92

115 Main Street

Westgate, IA 50681

Open House:

Thursday, August 31 from 4:00 - 7:00 PM

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 Fayette 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 Fayette 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 a check or wire transfer. All funds will be held in the Tremaine & Becker Law Firm Trust Account.

Closing: Closing will occur on or before Thursday, October 19th, 2023. The balance of the purchase price will be payable at closing in the form of a guaranteed check or wire transfer. Closing will be administered by the Seller's attorney Beth Becker at the Tremaine & Becker Law Office in Sumner, Iowa.

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

Farm Lease: The farm lease will continue through the 2024 growing season. The Buyer will receive 100% of the 2024 cash rent. Contact Agent for lease details.

Contract & Title: Immediately upon the conclusion of the auction, the high bidder will enter into a real estate sales contract and deposit with the Tremaine & Becker Law Firm 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.