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Method & Terms{"message":"In _app.tsx child of Layout","renderCount":1}
Method and Terms95 Photos
Method and Terms
Lot Closed
Auction by Sullivan Auctioneers, LLC(5362)
This item is in Ottumwa, IA
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Tract 1: 26.00 Acres
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Tract 2: 14.12 Acres
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Tract 3: 14.41 AcresOverview of Method and Terms
Item Details
The Genosource Farm will be sold in fifteen (15) individual tracts based on a survey that has recently been completed, with the said surveyed acres used to constitute the final settlement price. Tract 1 will be sold first on a price per acre basis. Tracts 2 - 11 will be sold next on a price per acre basis through the marketing method of "buyers choice" whereas the high bidder can take any or all tracts for their high bid. Buyers choice auctioning will continue until all tracts are sold. Tracts 12 - 15 will be sold next individually for a Lump Sum Total Dollar Amount. 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 60 days, on or before Monday, February 1, 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 on all tracts will be given at the time of closing. All tracts sell with full farming rights for 2021.
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 SURVEY AERIAL
CLICK HERE TO VIEW TRACT 12 RESIDENTIAL DISCLOSURES
CLICK HERE TO VIEW TRACT 13 RESIDENTIAL DISCLOSURES
CLICK HERE TO VIEW TRACT 14 RESIDENTIAL DISCLOSURES
CLICK HERE TO VIEW TRACT 15 RESIDENTIAL DISCLOSURES
CLICK HERE TO VIEW PURCHASE AGREEMENT FOR TRACTS 1, 12, 13, 14, and 15
CLICK HERE TO VIEW PURCHASE AGREEMENT FOR TRACTS 2, 3, 4, 5, 6, 9, 10, and 11
CLICK HERE TO VIEW PURCHASE AGREEMENT FOR TRACTS 7 and 8
Genosource, LLC - Seller
Mark Butz - General Manager (319) 520-1426
Representing Attorney:
Todd J. Locher
Locher & Locher
202 2nd Ave NW
Farley, IA 52046
Phone (563) 744-3359
Auction Managers:
Jim Huff (319) 931-9292
John Probasco (641) 856-7355
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
Major Iowa Land Auction - Genosource LLCOnline Event, Ottumwa, IA, 52501Monday, Nov 30, 2020 | 11:00 AM CST
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.