METHOD & TERMS
The Watson Farm will be sold on a price per acre basis, based on surveyed/taxable acres. Tracts 1, 2 & 3 will be sold first and will be offered through the marketing method of “Buyer’s Choice”, whereas the high bidder can elect any or all tracts, in any combination, for their high bid. “Buyer’s Choice” auctioning will continue until all three tracts have been sold. We will then sell Tract 4 last for a lump sum total dollar amount. The tracts will NOT be offered in their entirety at the conclusion of the auction. Immediately following the auction, the successful buyer(s) will be required to sign a real estate sales contract and pay ten percent (10%) of the purchase price as a non-refundable down payment which will be held in escrow until closing. The balance of the purchase price will be due at closing in approximately 45 days on or about August 10, 2026 upon delivery of a merchantable abstract and deed. The real estate taxes will be prorated to the date of closing. Full possession will be given at the time of closing (except the tillable acres on Tract 3. Possession of these acres will be given upon completion of harvest and/or the 2026 growing season). Subject to the Iowa Septic System “Time of Transfer” Law, the septic system on Tract 4 will require testing, and will be the buyer’s responsibility. Any necessary upgrades or future septic system testing will be at the buyer’s expense. Bidding is NOT subject to any contingencies, including but not limited to financing, an appraisal or inspection of the property. All announcements made sale day take precedence over prior advertising either written or oral. The information in our brochure, in our advertisements and on our website is believed to be accurate; however, no liability for its accuracy, errors or omissions is assumed. All lines drawn on maps, photographs, drone video, etc. are approximate. Buyers should verify the information to their satisfaction. There are no expressed or implied warranties made by the seller or Sullivan Auctioneers pertaining to this property. Real estate is being sold “AS IS”.
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