This lot is informational and may be used for test bidding - place your actual bids below on Lots #1-3.

The Luko Estate property will be sold in three (3) individual tracts, based on a survey that is currently in progress. Tract 1 will be sold first for a "lump sum" total dollar amount. Then tracts 2 & 3 will be sold through the marketing method of "Buyer's Choice", whereas the high bidder can take either or both tracts for their high bid. "Buyer's Choice" auctioning will continue until both tracts have been sold. The farm will NOT be combined 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 in approximately 30 days, on or before Thursday, October 28, 2021 upon delivery of a merchantable abstract and deed. Immediately following the auction, the successful bidder(s) shall enter into a written agreement with the seller. The real estate taxes will be prorated to the date of closing. Possession will be given at the time of closing, subject to the current farm lease with the tenant for the 2021 crop year.  Farm sells with full farming rights for the 2022 crop year. Subject to the Iowa Septic System Law, the septic system on Tract 1 is exempt from any system testing or upgrades. Any future septic system testing or upgrades will be at the buyer's expense.

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".

Property Preview: Monday, September 20th from 1:00 - 4:00 P.M.


CLICK HERE TO VIEW TRACT 1 SURVEY PLAT

CLICK HERE TO VIEW TRACT 1 SURVEY PLAT - AERIAL OVERLAY

CLICK HERE TO VIEW TRACTS 2 & 3 SURVEY PLAT

CLICK HERE TO VIEW TRACTS 2 & 3 SURVEY PLAT - AERIAL OVERLAY


CLICK HERE TO VIEW TRACT 1 PURCHASE AGREEMENT

CLICK HERE TO VIEW TRACT 2 PURCHASE AGREEMENT

CLICK HERE TO VIEW TRACT 3 PURCHASE AGREEMENT


Billy Lee Luko Estate

Representing Attorney:
Paul Zingg
Denefe, Gardner & Zingg, P.C.
104 S. Court Street
P.O. Box 493
Ottumwa, Iowa 52501
Telephone: (641) 683-1626

Auction Manager: 
John Probasco (641) 856-7355
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Physical Address: 28834 178th St., Bloomfield, IA 52537

• This property is improved with single story ranch style home that was built in 2016. This home features 1,800 sq. ft. of living area, 3 bedrooms and 2 baths.
• Other improvement includes a 40' x 60' pole barn a 26' x 62' steel utility building and several other usable outbuildings. Rathbun Rural Water is located on the property.
• We urge you to take at this Davis County, IA property that is located a short distance off of a hard surface road.
• Access is on the south by 178th St.

This tract will be sold for a lump sum, total dollar amount.
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• FSA information indicates 24.48 acres tillable currently in row crop production.
• The balance of the tract is a pasture draw and there is a nice pond.
• Kniffin & Armstrong soils.
• Access is on the south by 178th St.

The purchase agreement will be adjusted to a quantity of 36.29 acres times the winning bid value for the final purchase amount. The bidding platform rounds the quantity value.
 
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• FSA information indicates 31.52 acres tillable currently in row crop production & improved pastureland.
• Soils include Nodaway-Lawson-Ackmore & Zook.
• CSR2 is 59.2
• Access is on the north by 178th St.

The purchase agreement will be adjusted to a quantity of 40.55 acres times the winning bid value for the final purchase amount. The bidding platform rounds the quantity value.
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