Keosauqua, IA

Located 7.6 miles west of Keosauqua on Rte J40 to 15090 Rte J40
OR 5.6 miles north of Cantril, IA on V64, then east on J40 to 15090 RTE J40.

 Bidding Opens: Thursday, March 21^st
Bidding Closes: Thursday, March 28, 2024 at 10AM 

Open House on Thursday, March 14^th from 10-11AM 

56.01± Surveyed Acres – Sells in 2 Tracts 

Selling Free and Clear for 2024 Farming Season!

Auctioneer’s Note:  Check out this Heritage Farm nestled in the Villages of Van Buren County, near the small town of Lebanon.  Offering a potential building site on a hard surface road with annual CRP income.  Also selling is a ranch style home with usable outbuildings.  Don’t miss your chance of owning your place in the country! 

 Please note on March 28^th, starting at 9am, Steffes representatives will be onsite at Tract 2 to assist anyone with online bidding.

Tract 1 - 50.96± Surveyed Acres

•        Approx.: 47 cropland acres of which approx.: 36.87 acres are in CRP as follows:
  23.25 acres X $206.61 = $4,804.00 and expires on 9-30-2026.
  13.62 acres X $154.50 = $2,104.00 and expires on 9-30-2032.
•        Corn Suitability Rating 2 is 57.3 on the cropland acres.
•        Rural water runs along the north property line.
•        Located in Section 1, Jackson Township, Van Buren County, Iowa.
•        Tax Parcels: 000340901100400, Part 000340901100200, Part 000340901100110 = $886.00 Approx. Net
•        View FSA Information, 156 EZ Form, Farm Aerial & CRP Contract
•        View Soil Map 
•       View Tract 1 - Survey Plat
•        View Tract 1 - Real Estate Contract

Tract 2 – Home & Outbuildings on 5.05± Surveyed Acres

•        This 3 bedroom ranch style home with 1,200 sq.ft. on the main level and was built in 1960. 
•        Living room with hardwood floors.
•        Large eat in kitchen w/ ample cabinets, refrigerator & stove.
•        Two bedrooms w/ hardwood floors, third bedroom currently includes the washer & dryer.
•        Updated bathroom with walk in shower.
•        Unfinished basement with plenty of storage space, shower & outside entrance.
•        Other amenities include: Replacement windows installed approx.. 4 years ago., Ruud high efficient gas furnace w/ central air & Aprilaire air cleaner, rural water & a well (condition unknown).
•        Property has approx. 0.5 acres tillable, balance being the acreage and pasture.
•        Buildings include: 24’x32’ attached garage, Morton 45’x54’ pole building, 42’x60’ pole building with 18’x42 lean to, 40’x48’ barn with 20’x48’ lean to, 2,500 bu. grain bin, 1,500 bu. grain bin.
• Included:  Refrigerator, Stove, Washer, Dryer, Work bench, Tool box, Old air compressor, Wood ladders, Flare wagon, Old furnace, Old washer in basement, Any items present on the day of final settlement/closing.
•        Not included: LP tank is leased, Diesel fuel tank, Attached & unattached gates & panels, Cattle feeders & Farm Equipment.
•        Tax Parcel: Part of 000340901100110 = $1,112.00 Approx. Net
•        View Tract 2 - Survey Plat
•        View Seller Disclosure
•        View Lead Based Paint Disclosure
•        View Tract 2 - Real Estate Contract
•        Please note the provision pertaining to the water line supplying the neighboring property to the south has changed, as follows: There are water and electricity lines located on the Property that also serve the parcel adjacent to the South. Currently, there is an agreement with the Contract Buyer of said parcel for the use of the water and electricity from the Property. For further details of the agreement you are advised to review the Real Estate Contract filed August 23, 2021, Document No. 2021-1110 on file in the Office of the Van Buren County Recorder. [ Click Here ] to view page 6 of said recorded document.

Terms: 10% down payment on March 28, 2024. Balance due at final settlement with a projected date of May 10, 2024, upon delivery of merchantable abstract and deed and all objections having been met.
Possession: Projected date of May 10, 2024.
Real Estate Taxes: To be prorated to date of possession on the basis of the last available tax statement. Seller shall pay any unpaid real estate taxes payable in prior years.

Special Provisions:

•        This online auction will have a 5% buyer’s premium.  This means a buyer’s premium in the amount of five percent (5%) of the bid amount shall be charged to the Buyer and added to the bid amount to arrive at the total contract purchase price.
•        Tracts will be linked together with the bidding set to close simultaneously. If a bid is placed with less than 4 minutes left, the time on the auction will extend another 4 minutes. This will continue until no bids are placed within the last 4 minutes. Each Tract will stay in bidding extension until there are no more bids placed on any of the Tracts that are linked together.
•        Down payment is due on the day the bidding closes and signing of the contracts will take place through email and electronic document signatures. In the event the auction bidding closes after 3:00pm, the earnest money will be due the following business day.
•        Land is selling free and clear for the 2024 farming season.
•        It shall be the obligation of the Buyer to report to the Van Buren County FSA office and show filed deed in order to receive the following if applicable: A. Allotted base acres. B. Any future government programs.  C. Final tillable acres shall be determined by the FSA office.  D. CRP Prorate.
•        Buyer agrees to follow all requirements of conservation plans and practices required by the FSA to maintain eligibility in the Conservation Reserve Program. Buyer agrees to accept responsibility and liability for any actions by the Buyer which would endanger eligibility for the CRP or actions that would require repayment of the CRP payment or payments. Buyer further agrees to indemnify and hold harmless the Sellers for any recovery sought by the FSA due to actions of Buyer, which would violate the requirements of the CRP.
•        Both Tracts will be surveyed by a licensed surveyor, at Seller’s expense.  Tract 1 will be sold by the acre with gross surveyed acres being the multiplier used to determine the total bid amount.  Tract 2 will be sold lump sum price.  In the event the final survey is not completed by auction day or if the recorded survey is different than the announced gross surveyed acres, adjustments to the final contract price will be made accordingly at closing only on Tract 1, where the gross surveyed acres were used for the multiplier.  No adjustments will be made to Tract 2, as it is selling lump sum price.
•        This real estate auction is selling subject to final approval of the survey and subdivision requirements of the county.
•        If one Buyer purchases more than one tract, the Seller shall only be obligated to furnish one abstract and deed (husband & wife constitute one buyer).
•        Buyer of Tract 2 shall bear the responsibility and expense to have the septic system pumped & inspected, prior to closing, as required by the Iowa DNR. It shall also be the Buyer’s responsibility and expense, if needed, to upgrade, repair, or any other matters to the septic system in accordance with Van Buren County & Iowa Laws & regulations. Prior to closing, the Buyer shall acquire the proper paperwork required by the Van Buren County Sanitarian for the septic system.
•        Tract 2 currently has a water line which supplies the neighboring land owner to the south.  Seller has given notice to the neighboring landowner.  It shall be the Buyer’s decision whether this shall continue.  Please note the provision pertaining to the water line supplying the neighboring property to the south has changed, as follows: There are water and electricity lines located on the Property that also serve the parcel adjacent to the South. Currently, there is an agreement with the Contract Buyer of said parcel for the use of the water and electricity from the Property. For further details of the agreement you are advised to review the Real Estate Contract filed August 23, 2021, Document No. 2021-1110 on file in the Office of the Van Buren County Recorder. [ Click Here ] to view page 6 of said recorded document.
•        This auction sale is not contingent upon Buyer’s financing or any other Buyer contingencies.
•        If a Buyer is unable to close due to insufficient funds or otherwise, Buyer will be in default and the deposit money will be forfeited.
•        The Buyer shall be responsible for any fencing in accordance with state law.
•        The Buyer of Tract 1 shall be responsible for installing his/her own entrances if needed or desired.
•        If in the future a site clean-up is required, it shall be at the expense of the Buyer.
•        All mineral rights, if any, held by Seller will be transferred to Buyer upon closing.
•        This real estate is selling subject to any and all covenants, restrictions, encroachments and easements, as well as all applicable zoning laws.
•        All lines, drawings, boundaries, dimensions and descriptions are approximations only based upon the best information available and are subject to possible variation. Sketches may not be drawn to scale and photographs may not depict the current condition of the property. Bidders should inspect the property and review all the pertinent documents and information available, as each bidder is responsible for evaluation of the property and shall not rely upon the Seller, Broker or Auctioneer, their Employees or Agents.
•        The Buyer acknowledges that they have carefully and thoroughly inspected the real estate and are familiar with the premises. The Buyer is buying this real estate in its "as is" condition and there are no expressed or implied warranties pertaining to the real estate.
•        Steffes Group, Inc. is representing the Seller.
•        Any announcements made the day of sale take precedence over advertising. 

Seller:  Kenneth E. Johnston
Edward E. Cox of Cox Law Firm, LLP – Closing Attorney