AUCTION DETAILS Pipestone County Land Auction 314.50 Surveyed Acres Offered in Three Tracts Friday, June 23rd, 2023 10:00 AM Auction Location: Pipestone Country Club 1003 8th Avenue SE Pipestone, MN 56164 Online Bidding: Register to bid at http://peoplescompany.bidwrangler.com/ Auction Method: All Tracts will be offered through the "Buyer's Choice Auction Method", whereas the winning bidder may elect to take, in any order, one, two, or all three of the tracts for their high bid. The "Buyer's Choice Auction Method" will continue until all tracts have been purchased. Tract 1: 109.60 surveyed acres Tract 2: 124.42 surveyed acres Tract 3: 80.48 surveyed acres Bidder Registration: All prospective bidders must register with Peoples Company and receive a bidder number in order to bid at the auction. Peoples Company and its representatives are agents of the Seller. Winning bidder(s) acknowledge they are representing themselves in completing the auction sales transaction. Farm Program Information: Farm Program Information is provided by the Pipestone 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 Pipestone 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 a check or wire transfer. All funds will be held at Pipestone Abstract & Title Company. Closing: Closing will occur on or before Thursday, August 3rd, 2023. The balance of the purchase price will be payable at closing in the form of a guaranteed check or wire transfer. Possession: Possession of the farm will be given At Closing, Subject to Tenant's Rights. Farm Lease: The tracts are leased for the 2023 crop year, but farming rights will be open for the 2024 growing season. Contract & Title: Immediately upon the conclusion of the auction, the high bidder will enter into a real estate sales contract and deposit with Winter Realty (Pipestone Abstract & Title Company) the required earnest money payment. The Seller will provide a current abstract at their expense. The sale is not contingent upon Buyer financing. 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 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. The 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 the Abstract.
Pipestone County, Minnesota Land Auction – Mark your calendar for Friday, June 23rd, 2023! Peoples Company is pleased to offer one of those rare occasions where farmland that has been owned by the Appel Family for many years will be made available and sold via public auction. The auction will consist of 314.50 surveyed acres to be sold in three separate tracts on Friday, June 23rd, 2023, at the Pipestone Country Club in Pipestone, Minnesota. Tract 1 consists of 109.60 surveyed acres with 46.89 FSA cropland acres carrying a PI rating of 68.7. The balance of the farm consists of 50 acres m/l of pasture with fencing in place. Tract 2 consists of 124.42 surveyed acres with 116.55 FSA cropland acres carrying a PI rating of 85.8. Of the 116.55 FSA cropland acres m/l, 13.97 acres are enrolled in CRP expiring in 2037 with an annual payment of $3,680 ($263.40 Per Acre). Tract 3 consists of 80.48 surveyed acres with 76.18 FSA cropland acres carrying a PI rating of 89.9. These tracts would be a great add-on to an existing farm operation, an affordable tract for a beginning farmer, or a smart investment for the buyer looking to diversify their portfolio. The farms are leased for the 2023 crop year, but farming rights will be open for the 2024 growing season. The tracts are located northeast of Pipestone, Minnesota in Section 33 of Rock Township. The three tracts will be offered via Public Auction and will take place at 10:00 AM at the Pipestone Country Club, 1003 8th Avenue SE, Pipestone, MN 56164. The farmland tracts will be sold as three individual tracts using the "Buyers Choice" auction method on a price per acre basis, and the high bidder can take, in any order, one or all tracts for their high bid. "Buyer's Choice" auctioning will continue until all three tracts have been purchased and removed from the auction. Tracts will not be offered in their entirety at the conclusion of the auction. This auction can also be viewed through a Virtual Online Auction option and online bidding will be available. *Farm program information, base acres, total crop acres, conservation plan, etc. are subject to change when the farm is reconstituted by the Pipestone County FSA and NRCS offices.