METHOD & TERMS
The Laux Farms will be sold in six (6) individual tracts, based on a survey that is currently in progress. Said surveyed acres will be used to constitute the final settlement price. Tracts 1, 2 & 3 will sell first on a price per acre basis and through the marketing method of "Buyer's Choice", whereas the high bidder can take any or all tracts for their high bid. "Buyer's Choice" auctioning will continue until all three tracts have been sold. We will then sell Tract 4 for a "lump sum", total dollar amount. We will then sell Tract 5 on a price per acre basis followed by Tract 6 for a "lump sum", total dollar amount. Ten (10%) percent of the bid price to be due on the day of sale with the balance due in approximately 45 days, on or before Monday, July 31, 2023 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. Full possession will be given at the time of closing, subject to the leases with the tenants. New buyer(s) will receive 50% of the cash rent as a credit at closing (ask auction company for details). Subject to the Iowa Septic System Law, this property is held in an estate, therefore the septic system on Tract 6 is exempt from any septic system testing or upgrades. Any future septic system testing or upgrades will be at the buyer(s) expense. Tracts 1, 2 & 3 sell with full farming rights for the 2024 crop year. Tract 5 is leased through the 2026 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”.
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