Stanhope, IA 50246 - Hamilton County

Iowa Land Company is honored to offer for sale, the Larson Family Trust farmland auction in Webster and Hamilton County, Iowa, located north of Stratford, Iowa. The farm will be offered at public auction on December 7th, 2022 at the Stanhope, Iowa Community Building at 1:00 pm. We will offer the farm in 2 separate tracts on the day of the sale. This is a great opportunity for local farmers to expand their current farming operation and gives farmland investors the ability to buy well-taken care of farmland acres. Tract #1 will be offered as 61.51 acres, with 61.07 +/- acres considered FSA cropland acres, which are currently in row crop production. This tract consists of nearly level in topography farmland made up of productive farmland soils. The CSR2 average is 80.5 which is above the Hamilton county average. Canisteo clay loam and Webster clay loam, soils make up the majority of the soil on tract #1. Tract 2 consists of 33.50 +/- acres, with 32.11 +/- acres considered cropland acres which are currently in row crop production. The average CSR2 is 86.7 with Webster clay loam and Clarion loam soils making up the majority of the tillable acres. Tract #2 offers very high-quality productive soils! The farm currently has an open tenancy/lease for the 2023 cropland season; full possession will be the date of closing. Note: The buyers of each tract are to purchase/reimburse the current tenant for fertilizer and application fees, which will be applied this fall after the crops are harvested. Payment for the fertilizer and the application fee are to be paid at closing. Note: Current farm tenant on tract #1 is to have access/possession to the grain bins and gain storage on the farm until 9/1/2023. Tenant is to pay all electric service fees until 9/1/2023.

Tract #1

- 61.51 +/- Acres

- 61.07 +/- Cropland

- 80.5 CSR2

PLC Yield

TBD Corn

TBD Soybeans

Two working bins are on the farm and will be sold with the farm.

Taxes $2,337 annually ( per the Hamilton County, Iowa assessor )

Tract #2

- 33.50 +/- Acres

- 32.11 +/- Cropland

- 86.7 CSR2

PLC Yield

TBD Corn

TBD Soybeans

Taxes $ 1,056 ( per the Webster County, Iowa assessor )

Auction Date: December 7th, 2022

Auction Time: 1:00 PM

Auction Location: Stanhope, Iowa Community Building

Auction Address: 600 Main St, Stanhope, Iowa 50246

Sale Method: The farm will be sold as 2 tracts at live public auction with online bidding and phone bidding opportunities. All tracts will be sold per the buyers choice method of sale.

Farm Lease: Farm is leased for 2022. Cropland tenancy is open for 2023. Full possession date of closing. Bin Storage possession on Tract #1 is September 1st, 2023.

Survey: No survey will be provided; we are selling net acres on all tracts auction date.

Purchase Agreement: Immediately upon conclusion of the auction, the high bidder will enter into a real estate sales contract and deposit with the sellers attorney the required earnest money payment. The Seller will provide a current abstract at their expense. Sale is not contingent upon Buyer obtaining financing.

Earnest Money: 10% earnest money payment is required on the day of the auction. All funds will be held in the sellers attorney trust account. Remaining balance will be due at closing.

Farm Possession: Buyer will receive full possession for the cropland at closing.

Farm Closing: January 19th, 2023.

FSA Information: Call Land Broker Matt Skinner or Land Broker/ Auctioneer Luke Skinner for any FSA information questions prior to the auction. Note all FSA information is estimated to the best knowledge of the seller and Iowa Land Company. All information is subject to change. Farm will be subject to a new FSA conservation plan.

Mineral Rights: All mineral rights owned by the seller will convey to the buyer.

Bidder Registration: All active bidders must be registered prior to bidding on the farm. All bidders must have a bid card to bid on the farm. Call Land Broker Matt Skinner or Land Broker Luke Skinner prior to the sale if you are unable to attend the sale but have an interest in the farm. We do have online bidding available. You must sign up for online bidding at least 48 hours before the sale.

Terms and Conditions: This sale is subject to all easements, covenants, restrictions of record, and leases. Each Bidder is responsible for conducting, at their own risk, their own inspections, inquiries, and due diligence concerning the property. All property is sold AS IS-WHERE IS basis with no warranties or guarantees, either expressed or implied by the Seller or Iowa Land Company.

Announcements: Information provided herein was obtained from sources deemed reliable, but neither Iowa Land Company nor the Seller make any guarantees or warranties as to its accuracy. All potential bidders are urged to inspect the property, its condition, and to rely on their own conclusions. All sketches, dimensions, and acreage figures are approximate or more or less. Any announcements made auction day by Iowa Land Company will take precedence over any previously printed materials or oral statements. Iowa Land Company and Seller reserve the right to preclude any person from bidding if there are any questions as to the persons credentials or fitness to bid.