Tract 3: 24.44 surveyed acres featuring a single-family home and out buildings. Open House - Scheduled for January 25th & February 2nd from 1:00 P.M. - 3:00 P.M.

Tracts 1 & 2 will be offered individually on a price-per-acre basis using the "Buyer's Choice Auction" method. Tract 3 will be offered on a "Whole Dollar Basis" after Tracts 1 & 2 are sold. The Public Auction will be held on Thursday, February 13th, 2025, at 10:00 AM CST at the Earlham Community Building, 150 E 1st Street, Earlham, Iowa. The sale can also be viewed through a Virtual Online Auction option and online bidding will be available. The tracts are located just southwest of Earlham, Iowa in Section 13 & 14 of Penn Township.

Auction Details & Terms

Marilyn Maffin Estate Farmland Auction

153.89 Acres M/L

Offered in Three Tracts

Thursday, February 13th, 2025 at 10:00 AM CST

Seller: Marilyn Maffin Estate

Representing Attorney: Sam Braland | Nelson, Young & Braland

Auction Location:

Earlham Community Building

150 E 1st Street

Earlham, IA 50072

Tract 1: 75 acres m/l

Tract 2: 54.45 surveyed acres

Tract 3: 24.44 surveyed acres

Online Bidding: Register to bid on our website. 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: Tracts 1 & 2 will be offered individually on a price-per-acre basis using the "Buyer's Choice Auction" method. Tract 3 will be offered on a "Whole Dollar Basis" after Tracts 1 & 2 are sold. Tracts will not be offered in their entirety after the auction. 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 Madison 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 Madison County FSA and NRCS offices.

Earnest Money Payment: Tracts 1 & 2 will require a 10% earnest money payment on the day of the auction. Tract 3 will require a $10,000 earnest money payment. The earnest money payment may be paid in the form of check or wire transfer. All funds will be held in the Peoples Company Trust Account.

Closing: Closing will occur on or before Thursday, March 27th, 2025. The balance of the purchase price will be payable at closing in the form of guaranteed check or wire transfer.

Possession: Possession of the land will be given at closing.

Farm Lease: The lease is open for the 2025 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 purchasers 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.

Septic System: Per Iowa Code 445B, the Seller is exempt from the Septic System Inspection Requirement and the septic system servicing the dwelling on Tract 3 is in as-is condition and no inspections, updates, or improvements will be made by the Seller.

Tract 3 Disclosure: Water for the dwelling is provided by a spring-fed well. All appliances are not included in the sale. Fencing & equipment on the property may be removed by the seller prior to closing. The tract is being offered in as-is condition.

Open Houses: There will be two open houses held to view the dwelling on Tract 3. The open houses will be held on January 25th & February 2nd from 1:00 to 3:00 P.M. Potential Buyer's and/or Buyer's Agents are not permitted to enter either of the dwellings without prior approval from the Listing Agent(s).

Fences: Existing fences, if any, are in as-is condition and will not be updated or replaced by the Seller. 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: A survey will be provided for Tracts 2 & 3. 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 will be sold on an As is Where is basis with no warranties, expressed or implied, made by the Auctioneer, Peoples Company, or Seller. 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.