Clarke Co. Sealed Bid Auction - 188 ACRES m/l

Description

SEALED BID AUCTION

BIDS DUE BY 1:00 PM April 26th AT 122 MAIN ST. AMES IA 50010 

Tom Murrane was born and raised on a farm near Bayard where he owned considerable land. Later, Tom started buying land in Clarke and Decatur County in the 1970s. Tom was a true cowman and all his land was pasture most of the time he owned it. This land supported his own cows and other cattlemen rented his land also. He built a home and small feedlot on Hwy 69. Many people in the area knew him well. His wife Janelle passed away in 1999 and Tom passed in 2011. Betty Mies Murrane is Tom’s widow. Tom wanted to keep his land together as long as possible but Janelle’s trust ended recently and there was no other reasonable choice but to sell the land and distribute the funds to his many beneficiaries. Tom had a unique brand for his cattle that you will see immediately above the previous paragraph. We will all remember Tom and trust his land will be held in good hands. 

LAND DESCRIPTION

This tract is well located on the northwest corner of Elk Street and 240th Avenue just four miles SE of Osceola. The land is due east 2.5 miles from I-35 Exit 29 (H45). The Quonset and corral is one mile east of Hwy 69. 

The farm consists of approximately 162 acres of tillable land with some terraces and waterways throughout the farm. There is approximately 40 acres to the east of the Quonset that was patterned tiled 8 years ago which made a significant improvement to the land. See drainage tile map below. In the southwest corner of the farm lies 16 acres of pasture with a pond for watering livestock, corral for working cattle and a very usable Quonset 36’ x 56’ x 14’ storage shed built in 1980.

Immediate Possession. See terms and conditions related to the possession. 

FSA Info, Soil tests and previous yield information is available upon request. 

Gross: 188 Acres m/l
FSA Cropland: 189.88 Acres
    162.48 A Tillable m/l
    16.07 A m/l Pasture, Quonset & Corral
    11.33 A of Non-Tillable & Pond
CSR2: 55.6 (Tillable)

STR: 05-71N-25W
Taxes: $3,462 m/l due to split
Rural Water Available (See Map)
Legal Description: E 1/2 of SW 1/4 & W 1/2 of SE 1/4 & SW 1/4 of the NE 1/4 less Tract in NE corner all in 5-71-25, Clarke Co., IA

SEE THE COMPLETE SCHEDULE OF CURRENT AND UPCOMING MURRANE FARM AUCTIONS

SEALED BID AUCTION TERMS

Thomas Murrane 1999 Trust & the Janelle Murrane Family Trust 
Sealed Big Auction – 188 acres, m/l, Clarke County, Iowa 
Section 5, Green Bay Township 

Auction Sales Method: The real estate will be offered as 1 tract of land.

Sealed Bids:  Written bids will be received at the office of Gannon Real Estate & Consulting, on or before April 26th 1:00 PM CST and all bidders will be notified within 48 hours. The trustees have the right to go back to the top five bidders and ask for another bid. The bids may be hand delivered or sent certified mail to the Gannon Real Estate & Consulting office at 122 Main Street Ames IA 50010. All bids will need to be submitted on the sealed bid form. Seal bid forms can be found on the listing page of the property at www.gannonre.com. No online bids.

Possession:  There are no leases so the Buyer can have immediate possession after bid acceptance. The buyer is expected to plant corn or soybean crop as soon as prudent and with a plan approved by Gannon Real Estate & Consulting. If the Buyer defaults on the purchase contract, then the Buyer will forfeit the earnest funds plus crop planted and any inputs applied. 

Personal Property:  The sellers have until July 15, 2024 to remove any and all personal property. Any personal property left after July 15 will be the property and responsibility of the Buyer.

Closing:  Closing will be on or before June 14, 2024, but we could accommodate a delayed closing for 1031 exchanges or other reasons if they are approved ahead of April 24, 2024. 

Earnest Money:  A 10% earnest money payment is required on the day of the auction. Payments are to be made to the Belin Law Firm Trust Account. The earnest money must be paid in the form of a cashier’s check, cash or wire transfer. 

Farm Lease:  The farm lease is open for the 2024 cropping season.

Contract and Title:  Immediately upon conclusion of the auction, the highest bidder will enter into a real estate sales contract and deposit with Belin Law Firm Trust Account the required earnest money payment. The seller will provide an updated abstract at their expense. The sale is not contingent upon the Buyers financing.

Mineral Rights:  All mineral rights will be conveyed to the buyer (if any).

Taxes:  Real Estate taxes will be prorated to closing.  

Survey:  No survey will be performed.

Fences:  The fences are assumed to be the “right hand rule” but this is not guaranteed nor the adequacy of the fences.  

Other:  The sale is subject to all easements, covenants and restrictions of record. The property is sold “as is - where is” basis with no warranties expressed or implied by the Sellers or Gannon Real Estate & Consulting. Bidding increments are at the sole discretion of Gannon Real Estate & Consulting. 

Disclaimer:  All field boundaries are presumed to be accurate according to the best available information and knowledge of the Sellers and Gannon Real Estate & Consulting. Overall tract acres, tillable acres, etc. may vary from figures stated within marketing material. Buyer should perform his/her own investigation of the property prior to bidding at the auction. The brief legal description in the marketing material should not be used in legal documents. Full legal descriptions will be taken from the abstract. Please do not drive on the property in wet conditions. Feel free to walk the land at any time but no fishing or hunting is allowed. No one has been given permission to hunt for many years.