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Method and Terms
Method and Terms
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Method and Terms
Method and Terms
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Method and Terms
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Method and Terms

Method and Terms

Lot Closed

Auction by Sullivan Auctioneers, LLC(5362)
This item is in Bloomfield, IA

Similar Items

Overview of Method and Terms

Item Details

 

The First Iowa State Bank Farms will be sold in three (3) individual tracts based on a survey that has recently been completed, with the said surveyed acres being used to constitute the final settlement price. Tract 1 will be sold first for a lump sum, total dollar amount. Tracts 2 & 3 will be sold next 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 offered in its entirety or in any combinations. Bidding is not contingent upon financing.

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 Friday, October 30, 2020 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. Full possession will be given at the time of closing on Tract 1. Possession on Tracts 2 & 3 will be given at the time of closing subject to a farm lease for the 2020 crop year. Tracts 2 & 3 sell with full farming rights for the 2021 crop year.

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".

CLICK HERE TO VIEW TRACTS 1 & 2 SURVEY PLAT

CLICK HERE TO VIEW TRACTS 1 & 2 SURVEY PLAT - AERIAL OVERLAY

CLICK HERE TO VIEW TRACT 3 SURVEY PLAT

CLICK HERE TO VIEW TRACT 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
 

First Iowa State Bank - Owner

Representing Attorney:
Paul Zingg
Denefe, Gardner & Zingg, P.C.
104 S Court St,
Ottumwa, IA 52501
Phone: (641) 683-1626

Auction Managers: 
John Probasco (641) 856-7355
Jim Huff (319) 931-9292


Payment

Immediately following the close of the auction, the successful bidder will be required to enter into a purchase agreement. Purchase Agreement will be emailed to address on file and contract must be returned via email or fax. Immediately following the close of the auction, the successful bidder will be required to pay a non-refundable deposit as outlined in Lot #0 - Method & Terms. Failure to execute and return contract with deposit will be considered in default. Bidding on the property is not contingent on financing, appraisal or any other contingencies.
Wire Transfer

Auction Details

Davis County, IA Land Auction - FISBOnline Event, Bloomfield, IA, 52537Wednesday, Sep 30, 2020 | 10:00 AM CDT

Auction House

Sullivan Auctioneers, LLC
Sullivan Auctioneers, LLCHamilton, IL(5362)
Contact Auction House

Terms Of Sale

Property is offered under the specific terms provided in the printed and electronic versions of the auction brochure. Any and all inspections are the responsibility of the buyer prior to auction. Buyer is responsible for reviewing auction listing prior to close of sale to inspect any changes, corrections, or additions to property information. Property is being sold as is. Announcements sale day take precedence. Immediately following the close of the auction, the successful bidder will be required to enter into a purchase agreement. Purchase Agreement will be emailed to address on file and contract must be returned via email or fax. Immediately following the close of the auction, the successful bidder will be required to pay a non-refundable deposit as outlined in Lot #0 - Method & Terms. Failure to execute and return contract with deposit will be considered in default. Bidding on the property is not contingent on financing, appraisal or any other contingencies. Sullivan Auctioneers, LLC are licensed auctioneers representing the seller(s) in this transaction. Sullivan Auctioneers, LLC reserves the right to deny registration.
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