Lucas County Land Auction
217.48 Acre M/L
Offered in 5 Tracts
Tuesday, November 22, 2022, 10:00 AM

Seller:
Estate of George Wayne Pierschbacher
Eric Arnold, Executor of the Estate

Auction Location:
Carpenters Hall
1215 Court Ave
Chariton, IA 50049

Online Bidding: Register to bid at http://peoplescompany.bidwrangler.com/. Potential bidders may have access to the live auction by utilizing Peoples Company's online auction platform via the Internet. By using Peoples Company's online auction platform, bidders acknowledge that the Internet is known to be unpredictable in performance and may, from time to time, impede access, become inoperative, or provide slow connection to the online auction platform. Bidders agree that Peoples Company nor its affiliates, members, officers, shareholders, agents, or contractors are, in any way, responsible for any interference or connectivity issues the bidder may experience when utilizing the online auction platform.

Auction Method: 217.48 Acres M/L will be offered via Public Auction and will take place at 10:00 AM on Tuesday, November 22, 2022. Tract 1, Tract 2, Tract 3, Tract 4 and Tract 5 will be offered separately and will not be combined at any point during the auction. The land will be sold as five individual tracts to the High Bidder. Tracts 1, 2, 3 & 4 will be sold on a price per acre basis. Tract 5 will be sold on a total dollar amount basis. Tracts will not be offered in their entirety or combined at the conclusion of the auction. This auction can also be viewed through a Virtual Online Auction option and online bidding will be available.

Tract 1:  50.26 Acres M/L

Tract 2:  103.45 Acres M/L

Tract 3:  33.31 Acres M/L

Tract 4:  27.5 Acres M/L

Tract 5:  2.96 Acres M/L

Bidder Registration: All prospective bidders must register with Peoples Company and receive a bidder number in order to bid at the auction. Online and phone bidders must register with the Auctioneer at least 24 hours prior to the start of the auction. Peoples Company and its representatives are agents of the Sellers. Winning bidder(s) acknowledge they are representing themselves in completing the auction sales transaction.

Farm Program Information: Farm Program Information is provided by the Lucas 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 Lucas 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 check or wire transfer. All funds will be held in the Goldsmith Law Trust Account.

Closing: Closing will occur on or before Friday, January 6, 2022.  The closing attorney will be Goldsmith Law. The balance of the purchase price will be payable at closing in the form of guaranteed check or wire transfer. With respect to the timing of the Seller and successful Buyer(s) in fulfilling the obligations set forth in the Real Estate Sale and Purchase Agreement, time is of the essence.

Closing Attorney: Closing will be overseen by Goldsmith Law Office

Possession: Possession of the farm will be given At Closing, Subject to Tenant's Rights.

Farm Lease:  The current farm lease has been terminated and the farm will be “open” for the 2023 crop year.  Contact Agent for details.

Survey:  A survey will be completed on Tracts 3, 4 and 5 prior to closing.

Tract 4 Driveway Entrance: Tract 4 does not currently have its own driveway entrance off of 510th Street. The new owner of Tract 4 will be responsible for installing a new driveway entrance per the Lucas County Engineer’s Office plans and specifications. Any and all costs associated with the installation of new driveway entrances, if needed, will be at the sole expense of the new owners of each tract. The Sellers will not install any new driveway entrances.

Fences: Existing fences, if any, are in as-is condition and will not be updated or replaced by the Sellers. Not all tract and boundary lines are fenced and if needed, will be the responsibility of the Buyer at closing. No new fences to divide any of the tracts will be installed by the Sellers.  All current and any future fences and fence lines shall be governed by the Lucas County and State of Iowa fence lines rules and regulations.  Existing fence lines may not fall directly on the legal boundary.  

House & Septic System: The property and house will be sold on an “as is, where is” basis with no warranties or guarantees, expressed or implied, made by the auctioneer, seller or Peoples Company. Since the property is owned by an Estate, the Seller is exempt from the Time of Transfer requirements. Should a Buyer want to repair, perform maintenance, or replace the septic system, it will be at their sole expense and responsibility.

Site Cleanup: If a site clean-up is required on the farm, it will be the new Buyer’s responsibility and at Buyer’s expense.

Contract & Title: Immediately upon the conclusion of the auction, the high bidder will enter into a real estate sales contract and deposit with Goldsmith Law the required earnest money payment.The Seller will provide a current abstract at their expense. Sale is not contingent upon Buyer financing. All financial arrangements are to have been made prior to bidding 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, expressed or implied, made by the Auctioneer, Peoples Company, or Seller. All bids will be on a per-acre basis. Peoples Company and its representatives are agents of the Seller. The winning bidder acknowledges that they are representing themselves in completing the auction sales transaction. Any announcements made on auction day by the Auctioneer or Listing Agents 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.

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 within the marketing material. Buyer should perform his/her 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.