Guthrie County Land Auction
35 Acres M/L
Thursday, January 18, 2018
10:00 AM

Sellers:
Lou Etta Smith Estate - Attn: Monty Smith, Cindy Heilesen & Willa Thompson

Auction Location:
Menlo Community Building
417 Sherman Street
Menlo, Iowa 50164

Auction Method:  Farm will be offered in one individual tract.  All bids will be on a price per acre amount.

Farm Program Information:  Farm Program Information is provided by the Guthrie County Farm Service Agencies. The figures stated in the marketing material are the best estimates of the Seller and Peoples Company; however, Farm Program Information, base acres, total crop acres, conservation plan, etc. are subject to change when the farm is reconstituted by the Guthrie County FSA and NRCS offices.

Earnest Money Payment:  A 10% earnest money payment is required on the day of the auction. The earnest money payment may be paid in the form of cash or check. All funds will be held in the Peoples Company Trust Account.

Closing:  Closing will occur on or about Thursday, March 1st, 2018. The balance of the purchase price will be payable at closing in the form of cash, guaranteed check, or wire transfer. 

Possession:  Full possession of the farm will be given at closing, subject to tenant rights.

Farm Lease:  The current farm lease has been terminated.  Farm will be open for crop year 2018.

Contract & Title:  Immediately upon conclusion of the auction, the high bidder will enter into a real estate sales contract and deposit with Peoples Company the required earnest money payment. The Seller will provide a current abstract at their expense. Sale is not contingent upon Buyer obtaining financing.

Bidder Registration:  All prospective bidders must register with Peoples Company and receive a bidder number in order to bid at the auction.

Other:  This sale is subject to all easements, covenants, leases, and restrictions of record. All property is sold on an “As is – Where is” basis with no warranties or guarantees, expressed or implied, made by the Auctioneer, Peoples Company, or the Seller.  Peoples Company and its representatives are agents of the Seller. Winning bidder(s) acknowledge they are representing themselves in completing the auction sales transaction. Any announcements made auction day by the Auctioneer or Listing Agent will take precedence over all previous marketing material or oral statements. Bidding increments are at the sole discretion of the Auctioneer. No absentee or phone bids will be accepted at the auction without prior approval of the Auctioneer. All decisions of the Auctioneer are final. Existing fences, if any, are in as-is condition and will not be updated or replaced by the sellers.

Disclaimer:  All field boundaries are presumed to be accurate according to the best available information and knowledge of the Seller and Peoples Company. Overall tract acres, tillable acres, etc. may vary from figures stated in the marketing material and will be subject to change. Buyer(s) should perform their own investigation of the property prior to bidding at the auction. The brief legal descriptions in the marketing material should not be used in legal documents. Full legal descriptions will be taken from abstract.

Brokers Protected:  Clients must be registered with a listing broker at least 48 hours prior to start of auction. Participating brokers please contact auctioneer for details and forms.