Packwood, IA 52580(Wapello County)

The property contains a total of 160 acres (subject to survey) and will be sold in 2 tracts. Farmers and investors, be sure to check out this well-maintained Wapello County, Iowa property.

TRACT INFORMATION

Tract 1 92 acres (subject to survey)

FSA figures indicate 37.55 cropland acres

CSR2 rating of 54.2 (on the cropland acres)

The balance of this tract is pasture and timber areas

Soil types include Adair, Otley-Nira, Colo-Ely, and Otley

There is an older home and outbuildings on this tract

Access along the south from gravel road known as 165th Street

Tract 2 68 acres (subject to survey)

FSA figures indicate 64.24 cropland acres

CSR2 rating of 77.8 (on the cropland acres)

Soil types include Otley-Nira, Otley, Mahaska, Clarinda, Nira, and Adair

Access along the south from gravel road known as 165th Street

METHOD & TERMS

The Phyllis M. Bottger farm will be sold on a price per acre basis, based upon a survey currently in progress. Surveyed acres will be used to constitute the final settlement price. Both tracts will be offered through the marketing method of Buyers Choice, whereas the high bidder can elect either or both tracts for their high bid. If the high bidder does not elect both tracts, then the remaining tract will be sold. The tracts will NOT be offered in their entirety at the conclusion of the auction.

Immediately following the auction, the successful buyer(s) will be required to sign a real estate sales contract and pay ten percent (10%) of the purchase price as a non-refundable down payment which will be held in escrow until closing. The balance of the purchase price will be due at closing which will take place on or before Friday, December 22, 2023 upon delivery of a merchantable abstract and deed. Real estate taxes will be prorated to date of closing. Possession will be given at the time of closing subject to the existing lease for the 2023 crop year.

Seller will retain all of the 2023 income. Farm sells free and clear for the 2024 crop year.

Bidding is NOT subject to any contingencies, including but not limited to financing, an appraisal or inspection of the property.

All announcements made sale day take precedence over prior advertising either written or oral. The information in our brochure, in our advertisements and on our website is believed to be accurate; however, no liability for its accuracy, errors or omissions is assumed. All lines drawn on maps, photographs, drone video, etc. are approximate. Buyers should verify the information to their satisfaction. There are no expressed or implied warranties made by the seller or Sullivan Auctioneers, LLC pertaining to this property. Real estate is being sold AS IS.

Phyllis M. Bottger

Representing Attorney:

Box and Box Attorneys

304 North Court Street | Ottumwa, IA 52501

Phone: (641) 682-4512

Auction Manager:

Rick Shafer (515) 313-5508