Wednesday, September 13, 2017 at 5:00 p.m.
Sale to be held at the Knights of Columbus Hall, Houghton, Iowa
132.37 Surveyed Acres • 2 Tracts
SOLD! TRACT 1 – $9,700.00 PER ACRE
SOLD! TRACT 2 – $7,700.00 PER ACRE
TOTAL – $1,180,109.00
The Steffensmeier Farm is located in Section 14 of Marion Township, Lee County, Iowa. Both tracts are just west and north adjacent to the town of St. Paul, Iowa along County Blacktop J-38. (Be watching for pre-sale directional signs.)
TRACT 1 – 80.43 Surveyed Acres
- FSA information should indicate 70.79 acres tillable with the balance being grass waterways.
- Highly productive soils include; Grundy, Haig, Arispe and Pershing.
- CSR2 is 61.1
- Access is on the east off J-38. (205th Ave.)
TRACT 2 – 51.94 Surveyed Acres
- FSA information should indicate 53.19 acres tillable with the balance being a grass waterway.
- Highly productive soils include; Pershing, Grundy and Haig.
- CSR2 is 60.3
- Access is on the south off J-38. (130th St.)
METHOD & TERMS
The Steffensmeier Farm will be sold on a price per acre basis, based upon a survey that has recently been competed. Both tracts will be offered through the marketing method of “Buyer’s Choice,” whereas the high bidder can take either or both tracts for their high bid. Both tracts will be sold individually and will NOT be offered in its entirety at the conclusion of the auction.
Ten (10%) percent of the bid price to be due on the day of sale with the balance due upon delivery of a merchantable abstract and deed. Closing on both tracts is scheduled to be in approximately 30 days, on or before Friday, October 13, 2017. Immediately following the auction, the successful bidder(s) shall enter into a written agreement with the sellers. The real estate taxes will be prorated to the date of closing. Full possession will be given at the time of closing, subject to the completion of harvest of the 2017 crops.
All announcements sale day shall take precedence over any prior advertising either written or oral. The information in this brochure is believed to be accurate, however, no liability for its accuracy, errors or omissions is assumed. All lines drawn on maps, photographs, etc. are approximate. Buyers should verify the information to their satisfaction. There are no expressed or implied warranties pertaining to the property. This real estate is being sold “as is”.
R. Paul & Phyllis Steffensmeier – Sellers
Elaine F. Gray
Fehseke & Gray Law Offices
1023 Ave. G, Fort Madison, IA 52627
Phone: (319) 372-7181
For additional information, contact Sullivan Auctioneers’ representatives:
Jeff Hoyer (319) 759-4320
Jim Huff (319) 931-9292