Terms & Conditions

By accepting the terms and conditions of this auction you acknowledge you are entering into a legal and binding contract. You agree to abide by all terms and conditions and you acknowledge receipt of all explanations and information made available by Steffes Group, Inc., also referred to as Steffes Group or Company. 

Payment

When paying within the stated time and with our acceptable payment methods: 

• A buyer’s premium of $1,000 per Tract applies to items purchased on this Live Webcast Auction, if purchased online.  No Buyer's Premium charged if purchased onsite.

• Down payment is due on the day the auction closes and signing of the contracts will take place through email and electronic document signatures..

Acceptable forms of payment:

• Bank Wire Transfer; please call for wire instructions to be emailed to you.
• Check delivered to our office that held the auction
• Check By Phone

Mt. Pleasant, 319-385-2000

• Check By Fax

Mt. Pleasant, 319-385-4709

Agents for Sellers
Steffes Group, Inc. and its Employees act merely as agents for sellers. All auctions are with reserve unless specifically stated otherwise. Auctions are with undisclosed reserves unless advertised otherwise as "Absolute."  Auctioneers, at their discretion, may place a reserve bid on behalf of the seller. All final bids are subject to the seller's confirmation. Only the top bidder will be contacted as to the status of his/her bid. While the information we provide on item(s) is deemed correct, no warranties are expressed or implied as to any items being sold, and you agree to purchase and accept the item in an as-is condition. Information on items is obtained by us from the sellers and you hereby agree to hold harmless Steffes Group and our Employees for any errors or omissions regarding the item(s) being sold. This information includes but is not limited to year, model, machine or engine hours, physical condition, options, features and other data pertinent to the value of the item. All items are sold As-Is-Where-Is unless specific factory or seller issued warranties are listed in the item description.

Inspection

You acknowledge that you have the right and responsibility to inspect the item(s) personally, or to have a third party representative inspect the item(s) for you. That by bidding on an item you have agreed to accept that item in its present condition at its present location and with the description provided whether accurate or not. 

Auction Close

Timed-online auctions will begin to close on the date and time listed. Lots will remain open until no bids have been placed within the last 4 minutes. Timed-online auctions normally close at a rate of 3 lots every 2 minutes.  

Please note that some lots can be tied together and will be set to close simultaneously.  This will be indicated in those lots by a paper clip symbol.  Please hover your mouse over the symbol to see what lots are tied together. The paper clip symbol means that each lot tied will stay in extension until there are no more bids on any of the lots that are tied.

Steffes Group reserves the right to close multiple lots per minute at its discretion. Upon your accepted bid of an item, that item shall immediately become your responsibility and be at your risk (whether you have paid for that item or not). You agree that Steffes Group, its employees, and its sellers are not responsible for lost, stolen or damaged items and will not reimburse or discount items for any type of loss. Buyers are responsible for any costs incurred to prepare your item(s) for transport and/or shipping. This includes, but is not necessarily limited to, the cost of any rigging, dis-assembly, special loading requirements, transport, packaging, insurance, and all other costs related to physical transfer of your item(s). You agree to remit payment and remove from the auction property any purchases within the stated time for the auction being conducted. You further understand and agree that failure to remove items in the stated time for the auction will subject you to moving and storage fees unless arrangements have been made with the seller. 

Buyer Default

When using our online auction services you are making a firm commitment to purchase said item(s) and are entering into a legal and binding contract. Bids may not be cancelled or retracted for any reason. 

Non-paying bidders or fraudulent bidding will subject you to legal recourse and possible criminal charges including any fraud and/or interstate commerce violations. 

Internet Risk

You acknowledge that the internet may be an unreliable and error-prone network. Steffes Group will not guarantee that bids placed online will always be transmitted to or received by the auctioneer in a timely fashion. You agree to hold Steffes Group, Inc. and its employees harmless for any interruptions in online bidding. At the sole discretion of the Company, the auction may be suspended, postponed, or cancelled if internet service is unstable or disrupts the online portion of any event that is simulcast as an Internet Auction. 

Further, the auctioneer has the sole discretion to accept or refuse any bid. Steffes Group retains the right, at our sole discretion, to add, delete, or change some or all of our online services and the terms and conditions governing their online auctions at any time without notice. 

Floyd County, Iowa Land & Acreage Auction

FLOYD, IOWA
Land is located 1 mile north of Floyd on Quarry Road, then ½ mile west on 150^th Street, then 1 ½ miles north on River Road, then ¾ miles east on Quarry Road to 1354 Quarry Road.

Auction to be held at the Floyd Community Center, 706 Fairfield Street, Floyd, IA 50435

THURSDAY, JULY 8, 2021 AT 10AM

Open House on Thursday, June 24^th from 10-11AM

263.51 Surveyed Acres M/L – Sells In 4 Tracts

Survey Now Complete! -
View Survey
View Survey Overlay

Online Bidding Available!

“Selling Choice with the Privilege”
Tracts 1, 2 & 3 will be sold price per surveyed acre and will be selling Choice with the Privilege. High bidder may take Tract 1, Tract 2, Tract 3 or any combination of tracts, times their high bid.  This will continue until all tracts are sold.  Tracts will not be recombined. After Tracts 1, 2 & 3 are sold, Tract 4 will be sold. Tract 4 will be sold lump sum price.

Tract 1 – 212.37 Surveyed Acres
Approx. 209 acres tillable of which approx. 30 acres are in the CRP program as follows: Approx. 23.32 acres at $215.37 = $5,022.42 and expires on 9-30-2025.
0.9 acres at $209.00 = $188.00 and expires on 9-30-2029.
1.4 acres at $125.86 = $176.00 and expires on 9-30-2034.
Corn Suitability Rating 2 is 70.3 on the entire tract.
Located in Section 5, Floyd Township, Floyd County, Iowa.

View Tract 1 Soil Map

Tract 2 – 24.29 Surveyed Acres
FSA information: 23.51 acres tillable of which 5.10 acres are in the CRP program as follows: 5.10 acres at $215.37 = $1,098.38 and expires on 9-30-2025.
Corn Suitability Rating 2 is 69.9 on the entire tract.
Located in Section 5, Floyd Township, Floyd County, Iowa.

View Tract 2 Soil Map

Tract 3 – 16.65 Surveyed Acres
Approx. 8 acres tillable of which approx.. 2.28 acres are in the CRP program as follows:
Approx.. 2.28 acres at $215.37 = $491.04 and expires on 9-30-2025.
Corn Suitability Rating 2 is 41.2 on the entire tract.
Located in Section 5, Floyd Township, Floyd County, Iowa.

View Tract 3 Soil Map

Tract 4 – Two Story Home on 10.20 Surveyed Acres

Located at 1354 Quarry Road, Floyd, Iowa.

Take a look at this country acreage with a large 2 story home with 2,664 sq.ft. of living space. This 5 bedroom, 2 bath home offers a large master suite with walk in closet, large living room, kitchen & outside patio area. Other amenities of the home include newer shingles, attached 2 car garage, established windbreak, well, electric & fuel heat system. Outbuildings include a 40’x54’ barn, 16’x80’ shed, (1) 4,000 bu. bin. & (5) 3,500 bu. bins.

Included: Any item present on the day of closing.
Not included: LP tank, Fuel tank, Appliances, Farm Equipment, Fence line bunks, All personal property.

View FSA Information

View Tile Maps

Terms: 10% down payment on July 8, 2021.  Balance due at final settlement with a projected date of August 23, 2021, upon delivery of merchantable abstract and deed and all objections have been met.

Possession: Projected date of August 23, 2021. (Subject to tenant’s rights on the tillable land)

Real Estate Taxes:  To be prorated to date of possession on the basis of the last available tax statement.  Seller shall pay any unpaid real estate taxes payable in prior years. 

The following taxes are approximate and will be used to prorate at closing:

Taxes on the entire farm $7,434.00 – Tax Parcel 000070530000500
Tract 1 - $4,984.00 Net (Approx.)
Tract 2 - $584.00 Net (Approx.)
Tract 3 - $334.00 Net (Approx.)
Tract 4 - $1,532.00 Net (Approx.)

Special Provisions:

• Tracts 1, 2 & 3 are cash rented for the 2021 farming season.  The Seller shall retain 100% of the cash rent for 2021.
• Tracts 1, 2 & 3, it shall be the responsibility of the Buyer(s) to serve tenant notice, prior to September 1, 2021, if so desired.
• It shall be the obligation of the Buyer(s) to report to the Floyd County FSA office and show filed deed(s) in order to receive the following if applicable:   A. Allotted base acres.  B. Any future government programs. C. Final tillable acres. D. CRP prorate.
• Buyer agrees to follow all requirements of conservation plans and practices required by the FSA to maintain eligibility in the Conservation Reserve Program. Buyer agrees to accept responsibility and liability for any actions by the buyer which would endanger eligibility for the CRP or actions that would require repayment of the CRP payment or payments. Buyer further agree to indemnify and hold harmless the Sellers for any recovery sought by the FSA due to actions of Buyer, which would violate the requirements of the CRP. In the event the Buyer elects to take the ground out of CRP, the Buyer will be responsible to the Seller for any prorate of the CRP payment that the Seller would have received.
• All tracts will be surveyed by a licensed surveyor.  Tracts 1, 2 & 3 will be sold by the acre with gross surveyed acres being the multiplier for said tracts.  Tract 4 will be sold lump sum price.  If the recorded survey is different than the announced gross surveyed acres, adjustments to the final contract price will be made accordingly at closing only on Tracts 1-3, where the gross surveyed acres were used for the multiplier.  No adjustments will be made on Tract 4, as it is selling lump sum price.
• This auction sale is not contingent upon Buyer’s financing or any other Buyer contingencies.
• Purchasers who are unable to close due to insufficient funds or otherwise, will be in default and the deposit money will be forfeited.
• Due to this being a transfer by a fiduciary of an estate/trust, the Seller will be exempt from Time of Transfer Inspection of the septic, according to Iowa Code 455B.172(11) -3.  Any future inspections, upgrades, repairs, maintenance, or other matters to the septic system will be at the Buyer's expense in accordance with Floyd County & Iowa Laws & regulations.
• The Buyer(s) shall be responsible for any fencing in accordance with Iowa state law.
• If one Buyer purchases more than one tract, the Seller shall only be obligated to furnish one abstract and deed (husband & wife constitute one buyer).
• The Buyer(s) shall be responsible for installing his/her own entrances if needed or desired.
• If in the future a site clean-up is required, it shall be at the expense of the Buyer(s).
• This real estate is selling subject to any and all covenants, restrictions, encroachments and easements, as well as all applicable zoning laws.
• The Buyer(s) acknowledge that they have carefully and thoroughly inspected the real estate and are familiar with the premises. The Buyer(s) are buying this real estate in its "as is" condition and there are no expressed or implied warranties pertaining to the real estate.
• Steffes Group, Inc. is representing the Seller.
• Any announcements made the day of sale take precedence over advertising.

Alvina L. Molitor Estate & Ernest A. Molitor Residuary Trust

Gary Molitor – Trustee

First Citizens Bank – Executor

Roberta Cornelius – VP, Senior Trust Officer

Michael S. Vervaecke - Attorney for Sellers

For information contact Nate Larson at Steffes Group,
319.385.2000 or 319.931.3944