Name Drefke Farmland
Auctioneer Vander Werff & Associates
Type Live Webcast Auction
Date(s) 10/22/2021
Location Auction to be held at the Marcus Community Building, 319 N Main Street, Marcus, IA
Marcus, IA 51035
Buyer Premium no buyers premium
Description
152.88 +/- ACRES IN CHEROKEE CO, IA @ LIVE & ONLINE AUCTION Friday, October 22, 2021 @ 10:30 AM 152.88 +/- acres in Section 30-93-42, Marcus Twp, Cherokee Co Auction to be held at the Marcus Community Building, 319 N Main Street, Marcus, IA Neal D. Drefke Living Trust & Julie R Wittrock Location: From the north side of Marcus, IA on Hwy 143 go 1 mile north then 2 miles west on 470th St. Auction signs will be posted. General Description: Selling will be 152.88 +/- acres of Marcus Twp, Cherokee Co farmland. The farm is level to gently sloped. The primary soil types on the tillable acres consist of the Galva, Marcus, and Primghar series. The farm has an estimated average CSR 1 of 75.9 and an excellent CSR 2 of 96.7. According to the FSA office the farm has approx. 151.57 cropland/tillable acres with the remainder as road and ditch. Brief Legal Description: The SE 1/4 excluding Parcel A in Section 30-93-42, Marcus Twp, Cherokee County, IA. Property contains 152.88 +/- acres. Corn Base/Corn Yield: The corn PLC yield is 167 bushels and the soybean PLC yield is 50 bushels. The corn base is 94.63 acres and the soybean base is 56.77 acres. Wind Lease: There are no wind turbines on this farm. Although there is a wind lease. This lease has a term of 37 years beginning October of 2016. The original payment was 152.88 acres times $6.25 with payment escalations of 2.5% per year. All wind lease payments for 2022 and thereafter shall be paid to the buyer and the buyer shall assume all of the sellers obligations under the lease. However if the windfarm ceases to operate, the project would be decommissioned and the leases would be terminated. There is no guarantee that this lease will be effective for the full 37 years. Weather Tower: There is a permanent MET tower on the farm towards the NW corner. The contract began in 2019 and scheduled to run for 20 years. The contract can be terminated at the MET towers discretion any time prior to the 20 year term. Currently there is a $3000 payment per year. All 2022 payments and thereafter will be paid to the buyer and the buyer shall assume all of the sellers obligations under the contract. Farm Real Estate Taxes: Sellers will pay all real estate taxes which would become delinquent if not paid by October 1, 2022, as well as all prior taxes. The estimated net annual real estate taxes are $5224. Method of Sale: Bid price per acre times 152.88 +/- acres sold via live and online simultaneously. Terms: 10% down upon conclusion of the auction. The abstract will be continued to date. The buyers will have 10 days from receipt of abstract to have the abstract examined. The sellers guarantee a clear and marketable title on the property. The owners reserve the right to reject any and all bids. A late charge will apply for buyers delaying the closing. Online bidders must agree to these terms and conditions as well as online conditions prior to registering and must be verified 24 hours prior to start of auction. Possession/Closing: December 17, 2021 (Subject to current lease which will expire March 1, 2022) Tile Info: In 2019 there was $10,368 spent on tiling with Schmillen Construction, Marcus, IA. Company Note: We are pleased to be offering this excellent Cherokee County farmland located near Marcus, IA. This farm is located near several great grain marketing opportunities! This farm will be offered via live and online simultaneous bidding. Check out our website at www.vw72.com for additional information. The farm will sell from the Marcus Community Building on Friday, October 22nd. We thank you for your interest. If you have any questions please give us a call. Rich, Todd, Levi, and Shannon Note: This farm is being sold "as is." While every effort has been made to ensure the accuracy of the information herein provided, no warranty is given and no responsibility is assumed by the auction company, the auctioneers, the seller or their agents concerning condition of the property, the corn bases, corn yields or other supplied information. Property is being sold subject to any easements, including road, drainage, utility or other easements of record. All prospective purchasers are encouraged to inspect and verify information provided herein. Vander Werff & Associates Inc., represent the sellers for this transaction. Any announcements made the day of will supersede this advertisement. View our website for more info or to register to bid www.vw72.com Vander Werff & Associates Sanborn, IA 51248 712-729-3264 Rich Vander Werff 712-261-0298 Todd Hattermann 712-348-0111 Levi Mouw 712-441-6898
Auction Terms & Conditions Terms and Conditions Auction Terms & Conditions All registered bidders must provide a letter of credit from a banking institution 24 hours prior to the start of the auction. Vander Werff & Associates and its Employees act merely as agents for sellers. All final bids are subject to the seller's approval. While the information we offer on item(s) is deemed accurate, no warranties are expressed or implied. Information on items is attained by us from the sellers and you agree to hold Vander Werff & Associates and their Employees harmless for any errors or oversights regarding the item(s) being sold. This information comprises but is not limited to year, model, hours, condition, options, structures, unintentional errors in cataloging, authenticity or imperfections not precisely noted and other data pertinent to the value of the item. Buyers are responsible for conducting their own examination or by a third party, during Open Houses/Inspection periods. The winning bidder will be notified via email from the Auction Company. Printed or verbal statements made by the auction company are matters of belief and are made in good faith. ALL ITEMS ARE SOLD AS-IS WHERE-IS. Online auctions have a scheduled open and close date and time. Upon your accepted bid of an article, that article shall instantly become your responsibility and be at your risk (whether you have paid for that item or not). You agree that Vander Werff & Associates, its employees, and their sellers are not responsible for lost, stolen or damaged items and will not reimburse or discount items for any theft or damages. Buyers are accountable for any costs incurred to prepare their item(s) for transport. This includes but is not necessarily limited to the cost of any load out, disassembly, or transport and any/all other costs related to physical transfer of their item(s). Buyers are required to pick up sold items on scheduled pickup dates selected by the Auction Company. If payment is not made by scheduled pickup day, all purchases due will be charged to your credit card and subject up to a 3.45% fee. You further understand and agree that failure to remove items in the stated time could result in storage, removal fees and/or forfeited to the Auction Company. By using our online auction service you are entering into a legally binding contract to purchase said item(s). Bids may not be cancelled or withdrawn for any reason. You acknowledge that the internet may be an undependable and an error prone network. Vander Werff & Associates will not guarantee that bids placed online will be conveyed to or received by the auctioneer in an appropriate time frame. You agree to hold Vander Werff & Associates and their employees harmless for any disruptions in bidding and/or auction software. The auction company shall not be held responsible for any missed bids. Further, the auctioneer has the right to accept or refuse any bid(s) at their discretion. Vander Werff & Associates retains the right to add, delete or change some or all of our online services as well as the terms and conditions without notice. Please check back and review auction terms frequently. Bidder responsibilities are but not limited to the following: All bidders must provide their name, email address, phone number, address at which they can be contacted for communication between Vander Werff & Associates throughout any transaction or auction. Bidders will be accountable and must obey any and all local, state and federal laws any/all violations will result in conclusion of bidding and website use privileges with this auction company. All bidders must be liable to provide appropriate forms of payment for items bought. Bidders recognize that this auction has live and online bidding simulataneously. The final bidding will close and remain closed as the auctioneer sells the item. A bidder can place a maximum bid on one or more lots. The current bid price does not automatically go to the max bid. When another bidder increases the current bid then the computer will automatically increase the bid in the increment specified until reaching your max bid. When paying within the stated time our acceptable payment methods are cash, check, bank wire or credit card. If a credit card is used, your account will be charged up to a 3.45% convenience fee. If paying by bank wire there will be a $10 incoming wire fee. No items will be released until paid in full. All sales are final. --------------------------------------------- ------------------------------------------ Terms Of Use

Seller User Terms

Bidder User Terms
Your bid must adhere to the bid increment schedule.
Bid Amount Bid Increment
0.00 - 9,999,999.99 500.00 USD
Currency USD
Buyer Premium no buyers premium
Payment Terms
Cash Check Bank Wire Credit Card In the event you are the high bidder, you will be contacted by Vander Werff & Associates, inc via email. Payment is due upon completion of auction.
Terms: 10% down on the day of the auction. The balance will be due on December 17, 2021.