TERMS:

Purchase Agreement: Successful bidder will enter into a purchase agreement immediately after being declared the winning bidder by the Auctioneer. PLEASE NOTE: The purchase agreement will offer NO CONTINGENCIES for financing, property condition, or any other alterations to the contract.  Property is being sold “AS IS”. Prospective Buyers are urged to inspect the property prior to the auction date to their own satisfaction.                                     

Auction Method: Farm will be sold on a price per acre basis times 310.4 acres to determine the contractprice.

Earnest Deposit: Successful bidder will provide an Earnest Deposit in the amount of 10% of the purchase price, which will be deposited in the Trust Account of Clear Title & Abstracting.  Deposit will only be refunded if the SELLER defaults, or if required by Iowa law. 

Taxes: Taxes will be prorated to the date of closing. 

Closing: Closing to be on or before March 30^th, 2018 will be conducted by Clear Title & Abstracting with the closing fee to be split 50/50 between the Buyer and the Seller.

Posession & Lease: Buyer will receive possession upon successful closing and filing of all required documents, subject to current tenant’s rights until March 1st, 2018.                               

Lease: There is no lease in place for 2018 so Buyer will have full possession for the 2018 crop year. 

Title: Seller will provide Clear & Marketable Title by having Abstract continued to date of sale. Buyer will be responsible for having their attorney review abstract to their satisfaction. 

Easements: Sale is subject to any and all Easements and Right of Ways of record. 

Agency: United Country Menke Auction & Realty and their agents are acting as Exclusive Agents for the Sellers.   

All information is from sources deemed reliable by United Country Menke Auction & Realty, however no guarantee or warranty to its accuracy is given.  Buyers are encouraged to research any information to their own satisfaction.  All statements made the day of the auction take precedence over all printed material. 

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