Mount Sterling, Iowa
Mount Sterling, Iowa
Van Buren County, Iowa
Mount Sterling, Iowa
160± ACRES (Subject to Survey) ∙ 2 TRACTS
AUCTION ENDS: FRIDAY, MARCH 15, 2024 | 10AM
Location & General Information
The farm is located in Section 6, T67N∙R9W, Vernon Township, Van Buren County, Iowa and is generally located 1/2 mile north of Mount Sterling, IA on County Hwy. Rte. W20. Nestled within the Villages of Van Buren County, renowned for its abundance of Whitetail trophy bucks, this exceptional property boasts a trifecta of offerings: tillable farmland, prime hunting and recreational terrain, and idyllic building sites. Whether you’re expanding your farming portfolio or seeking adventure in the great outdoors, this property beckons. Available in two distinct tracts, you have the flexibility to invest in the entirety of this farm or opt for a smaller portion to suit your budget and needs.
Tract 1· 80± Acres (Subject to Survey)
Tract 2 · 80± Acres (Subject to Survey)
How to Bid: Open up the Fraise Auction & Real Estate auction you are interested in at Fraiseauction.com. Click on any of the BID NOW icons within that auction. This will take you to the Online Bidding Platform. Find the auction you wish to participate in and open it up. To participate in that auction click REGISTER TO BID. From there you will need to create a bidder account. Once that is created you are able to bid on any of our Online Auctions
Auction Method: The auction will be conducted online, with each Tract available for individual purchase. However, bids for multiple Tracts can be placed simultaneously. Importantly, bidding for each Tract will remain open until the bidding concludes for both Tracts, ensuring that neither Tract will close until bidding has ceased on both. Tracts will be sold on a price per acre basis with the surveyed acres constituting the final sales price. Bidding is NOT contingent upon financing, an appraisal, inspection, or any other contingencies.
Survey: The land is in the process of being surveyed. Surveyed acres will be adjusted to constitute the final sales price.
1031 Exchange: It is the intention of Sellers to transfer the above-listed property pursuant to Internal Revenue Code Section 1031, which sets forth the requirements for tax-deferred real estate exchanges. The Seller’ rights and obligations under this and future agreements will be assigned to a qualified intermediary, for the purpose of completing an exchange. Buyer of the property agrees to cooperate with Seller and qualified intermediary in a manner necessary to enable Seller to complete said exchange. Such cooperation shall be at no additional cost or liability to Buyer.
Reservations: Metal storage container, portable A-frame and ladder stands. Additionally, it is the Sellers intention to remove the majority of scrap iron on both Tracts prior to closing.
Earnest Money Payment: A ten (10%) percent nonrefundable earnest money payment is required on the day of the auction. All funds will be held in the Fraise Auction & Real Estate Trust Account.
Closing & Possession: Closing will occur on or about April 15, 2024, at which time possession will be given. The balance of the purchase price will be payable at closing in the form guaranteed check or wire transfer.
Contract & Title: Immediately upon conclusion of the auction, the high bidder will enter into a real estate sales contract with the Sellers. The Sellers will provide a current abstract at their expense. Real estate taxes will be prorated to the date of possession. Should a Buyer purchase both Tracts, then Sellers shall be obligated to furnish only one abstract and deed (husband and wife constitute one Buyer).
Other: It shall be the Buyer(s) responsibility 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) Prorate of CRP. The land is selling subject to all easements, covenants, leases and restrictions of record. All property is sold on an “As Is, Where Is” basis with no warranties, expressed or implied made by the Auctioneer, Fraise Auction & Real Estate or Seller. Fraise Auction & Real Estate and its representatives are agents of the Seller. Winning bidder(s) acknowledges that they are representing themselves in completing this transaction. Any announcements made on auction day by the Auctioneer will take precedence over all marketing material or oral statements. Bidding increments are at the sole discretion of the Auction Company and can be changed at any time during the auction.
Disclaimer: Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries and due diligence concerning the property. All lines drawn on maps and photos are approximate. Overall tract acres, tillable acres, etc. may vary from figures stated within the marketing material. No liability for its accuracy, errors or omissions is assumed by the Sellers or Auction Company.
MDD, LLC – SELLERS
Gregory Johnson of Johnson Law Offices – Attorney for Seller
Auction Conducted by Fraise Auction & Real Estate
May Story, Sales Representative
Corey Fraise, Broker/Auctioneer