Auction Details Martha M. Martens Estate Farmland Auction 326.20 Acres M/L Offered in Six Tracts Friday, February 16th, 2024 10:00 AM Seller: Martha M. Martens Life Estate Attorney: Matt Molettiere, Legacy Design Strategies Auction Location: Immaculate Conception Hall 101 James Street St Marys, IA 50241 Tract 1: 105.8 acres m/l Tract 2: 55.92 acres m/l Tract 3: 6.6 acres m/l Tract 4: 16.47 acres m/l Tract 5: 61.48 acres m/l Tract 6: 79.93 acres m/l 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 a 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: The farm will be sold as six individual tracts using the "Buyers Choice" auction method. All bids will be on a price-per-acre basis. The high bidder can take, in any order, one, multiple, or all tracts for their high bid. "Buyers Choice" auctioning will continue until all tracts have been purchased and removed from the auction. Tracts will not be offered in their entirety after the auction. The tracts will be sold via Public Auction on Friday, February 16th, 2024, at 10:00 AM at the Immaculate Conception Hall in St Marys, Iowa. This auction can also be viewed through a Virtual Online Auction option and online bidding will be available. Bidder Registration: All prospective bidders must register with Peoples Company and receive a bidder number 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. Agency: 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 Warren County Farm Service Agency. 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 Warren 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 cash or check. All funds will be held in the Peoples Company Trust Account. Closing: Closing will occur on or before Friday, March 29th, 2024. The balance of the purchase price will be payable at closing in the form of cash, guaranteed checks, or wire transfers. Possession: Possession of the land will be given At Closing. Farm Lease: The farm leases have been terminated and each tract will be available for the 2024 crop season. Contract & Title: Immediately upon the conclusion of the auction, the high bidder will enter into a real estate sales contract and deposit the required earnest money payment into the Peoples Company Trust Account. The Seller will provide a current abstract at their expense. The sale is not contingent upon Buyer financing. Financing: The purchaser’s obligation to purchase the Property is unconditional and is not contingent upon the Purchaser obtaining financing. Any financial arrangements are to have been made before bidding at the auction. By the mere act of bidding, the bidder makes a representation and warrants that the bidder has the present ability to pay the bid price and fulfill the terms and conditions provided in the Contract. 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. Existing fence lines may not fall directly on the legal boundary. Surveys: Surveys will be provided for Tracts 2, 3 and 5. The farmland acres are subject to slight change after the surveys have been completed but before the auction. After the surveys have been completed, tract acres will be updated on the Peoples Company website. Additionally, the final tract acres will be announced on the day of the sale. No additional surveying or staking will be provided by the Seller. 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 "Price Per Acre" amount. 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 investigation of the property before 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.
Martens Estate Farmland Auction - Six excellent Warren County, Iowa tracts that have been held for over 120 years. Mark your calendars for February 16th, 2024, at 10:00 AM! Peoples Company is pleased to represent the heirs of the Martha M. Martens Estate in the sale of 326.20 acres m/l located in Warren County, Iowa. These farms have a storied history and have been proudly held by the Martens Family for over 120 years. This offering consists of highly productive tillable tracts adjoining and near the city limits of Martensdale, Iowa. All of these tracts are located within the desirable Martensdale-St Marys School District and the Interstate 35 corridor, near the Warren/Madison County line. The portfolio will be offered in six tracts via the Buyer's Choice auction method of sale at the Immaculate Conception Hall in St Marys, Iowa. Tract 1: 105.8 acres m/l with 84.93 FSA cropland acres, carrying a CSR2 value of 67.8. Tract 2: 55.92 acres m/l with 42.8 FSA cropland acres, carrying a CSR2 value of 77. Tract 3: 6.6 acres m/l with 7.1 FSA cropland acres, carrying a CSR2 value of 67. Tract 4: 16.47 acres m/l with 13.03 FSA cropland acres, carrying a CSR2 value of 73.14. Tract 5: 61.48 acres m/l with 56.62 FSA cropland acres, carrying a CSR2 value of 72.1. Tract 6: 79.93 acres m/l with 48.19 FSA cropland acres, carrying a CSR2 value of 79.3. The farmland will be offered as six individual tracts via the “Buyer’s Choice” auction method through a live, in-person auction and a virtual, live online auction option. Online bidding will be available as well. With the "Buyers Choice" auction method the high bidder can take, in any order, one, multiple, or all tracts for their high bid. "Buyer's Choice" auctioning will continue until all six tracts have been purchased and removed from the auction. The tracts will not be offered in their entirety or any combination after the auction.