LOCATION
The Jennings Farms are generally located 31/2 miles northeast of Winfield, Iowa or 5 miles south of Columbus City, Iowa. Tracts 1, 2 & 4 are located in Sections 25 & 26 of Elm Grove Township, Louisa County, Iowa and Tract 3 is located in Sections 23 & 24 of Elm Grove Township, Louisa County, Iowa. From Winfield, Iowa proceed north 3 miles on Oasis Avenue (W66) to County Blacktop G62, then turn right or east and proceed 21/2 miles to Tracts 1 & 2. To access Tract 4, turn left or north 1/2 mile to the buildings. To access Tract 3, continue north on U Avenue to 90th Avenue, then turn left or west to the farm.
Tract 3
Tracts 1, 2 & 4
METHOD & TERMS
The Jennings Farms will be sold in (4) four individual tracts. Tract 1, 2 & 3 will sell on a price per acre basis, based upon a survey that is currently in progress. Surveyed acres will be used to constitute the final settlement price. Tracts 1, 2 & 3 will be sold 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 sold. We will then sell Tract 4 for a “Lump Sum” total dollar amount. Immediately following the auction, the successful bidder(s) shall enter into a written agreement with the sellers. Taxes will be prorated to the date of possession. Possession will be given on all tracts at the time of closing, subject to the current lease with the tenants running through February 2024. All tracts sell free and clear for the 2024 farming season. 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 which will take place on or before October 2, 2023 upon delivery of a merchantable abstract and deed. Possession will be given at the time of closing, subject to the current lease. Contact the auction manager for lease details. 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, LLC pertaining to this property. Real estate is being sold “AS IS”.
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