Farmland Auction Dec 15-2020


FARMLAND AUCTION


George E. Jargo Family Trust & Melvin C. Jargo Family Trust

(SEE MORE PHOTOS BELOW THE AUCTION TERMS) 

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AUCTION TERMS


Sale Method: To be offered as 1 parcel totaling 204.33 acres. All bids are open for advancement until the Auctioneer announces that the real estate is sold or that the bidding is closed. Bidding increments are solely at the discretion of the Auctioneer. All decisions of the Auctioneer are final. Seller reserves the right to accept or reject any or all bids.

Tax Acres: 204.33 net tax acres according to the Jackson County Assessor.

Earnest Payment: A 10% Non-refundable earnest money payment is required on the day of the auction. The earnest payment may be paid by personal check. All funds will be held in the trust account of East Iowa Real Estate.

Minerals: All mineral interest owned by the Seller, if any, will be conveyed to the Buyer.

Property Taxes: Sellers to pay real estate taxes pro-rated to closing date.

Conditions: This sale is subject to all easements, covenants, restrictions of record, and tenants rights. Current tenant has been terminated and land is open for the 2021 season. Each Bidder is responsible for conducting, at their own risk, their own inspections, inquiries, and due diligence concerning the property. The property and fences are sold on an “AS IS WHERE IS” basis with no warranties or guarantees; either expressed or implied by the Seller, East Iowa Real Estate, or the Auctioneer.

Contract and Title: Immediately upon conclusion of the auction the higher bidder(s) will enter into a real estate contract and deposit with East Iowa Realty the required earnest payment. Sale is not contingent upon Buyer financing. Final sale is subject to the approval of the Seller. The Seller will provide a current abstract at Seller expense.

Closing and Possession: Closing on or before February 15, 2021 or as agreed between seller and buyer. The balance of the purchase price will be payable at closing by certified check, bank certified check, or by wire transfer. Possession at legal closing subject to existing lease which expires 3/1/2021.

Sellers: George E. Jargo Family Trust & Melvin C. Jargo Family Trust

Announcements: Property information provided herein was obtained from sources deemed reliable, but East Iowa Real Estate, the Auctioneer or Seller makes no guarantees as to its accuracy. All prospective bidders are urged to fully inspect the property, its condition and to rely on their own conclusions. All sketches, dimensions, and acreage figures in this information are approximate or “more or less”. Any announcements made auction day by the Auctioneer will take precedence over any previous material or oral statements.  No absentee or telephone bids will be accepted at the auction without prior approval of the East Iowa Real Estate or the Auctioneer.

Agency: East Iowa Real Estate, the Auctioneer and their representatives are agents of the Sellers.

East Iowa Real Estate 563-652-0000, Broker: Chuck Schwager – 563-599-4277,

 

FARM PROSPECTUS