1003 Ford Ave, Kanawha, IA 50447 - Hancock County

LandProz is pleased to present the Schmidt Farm Auction in Hancock County, IA. This 160 +/- Acres will be offered to the public to bid their price via LandProz AuctionCast at our website. Online bidding will open April 5, 2025.

This farm consists of 160 +/- deeded acres in Section 36 of Magor Township, in Hancock County, IA. An auction is slated for April 10, 2025 at 4:00 PM in Kanawha, Iowa. This property boasts a significant agricultural potential, featuring 100.98 +/- acres of tillable cropland, ideal for farming operations. Fertilizer was applied, on or around September 27, 2024, there was 150 lbs Dap and 100 lbs of potash applied per acre. There will be no charge for the application to the buyer.

Additionally, it includes 43.3 acres enrolled in a Conservation Reserve Program [CRP] contract, which offers a lucrative annual payment of $14,014 to the buyer, with the contract set to expire on September 30, 2025. Bidders can participate in this exciting opportunity either in person or online, making it accessible for a wide range of interested investors and farmers looking to enhance their agricultural portfolio.

Please contact Auctioneer & Auction Manager JJ Wise at 641-420-7355 for more information regarding this auction.

PROPERTY FEATURES

160 +/- Deeded Acres

153.9 +/- Taxable Acres

100.98 +/- Tillable Acres

CSR2 of 51.3 [tillable in production - 55.6 CSR2]

43.3 +/- CRP Acres

CRP Annual Payment $14,014 [$323.64 per acre, expires 9/30/2025]

Corn Base Acres: 75.40 PLC Yield 147

Soybeans Base Acres: 25.58 PLC Yield 47

2024 Actual Soybean Yield: 55 bu/acre

Prominent Soil Types: Biscay Clay loam, Linder Sandy loam & Calco Silty Clay loam

Tenant Possession immediately following auction

Open to farm 2025

Taxes will be prorated

6 Miles SW of Kanawha, IA

10 Miles SE of Corwith, IA

Located on the Hancock & Wright county line

Real Estate taxes $2,558 [estimated]

OWNER

Roger & Deb Schmidt

AUCTION LOCATION

On our website

or

In-Person at:

Kanawha Fire Department

104 S Main Street, Kanawha IA

TERMS

Two Options: 10% down [non-refundable] of earnest money due on the day of the auction sale. Remainder due on or before May 16, 2025. OR Contract For Deed: 10% down day of auction, another 15% paid by May 16, 2025. Remainder due within 2 years, at 5% interest, paid to seller. Full payment due by May 17, 2027. Farm is open to farm and possession day of sale once earnest money has been paid. 2025 CRP Payment of $14,014 will go to the buyer. Earnest money will be held in the listing brokerage escrow account until closing. Only approved bidders will be registered to bid. Buyers will need to provide a letter of credit or proof of funds prior to bidding. Closing will be on or before May 16, 2025. Bidding is dollars per deeded acres, unless otherwise stated by the auctioneer. Buyer[s] to do their own due diligence prior to bidding. Any statements made the day of the auction take precedence over previous materials. All information provided herein was obtained from sources deemed reliable, but neither the auction company nor the seller guarantee it's accuracy.