Settlemyer Auction

Description

L2 Realty Inc. is honored to represent the Settlemyer family in bringing this great 80.14 acre tillable farm to auction.  This parcel lays in between Colony and Leroy just one mile south of Highway 58 offering easy access to and from the farm.  With 75.9 acres of total tillable farmland out of 80.14 acres this kind of tract is hard to find when it comes to total tillable acres with very little waste.  If you have been looking for that perfect investment opportunity look no further as this farm is comprised of over 72 acres of class 2 soils consisting of 58.17 acres of Woodson Silt Loam, 12.65 acres of Dennis Silt Loam, and 1.48 acres of Leanna Silt Loam respectively.  

The location and layout of this farm makes it even more attractable.  This parcel is located one mile south of Highway 58 offering easy access for implements to and from the farm and at the time of harvest allows for convenient transportation to the nearest elevator.  If you look at the aerial of the farm you will also notice that it is bordered by roads on either side offering multiple access points.  Situated between Leroy and Colony one will be able to expand their current operation with this farm or begin a new one providing income for years to come as good farmland continues to go up and up in value.  

The stewardship on this farm shines brightly and is easily noticed.  As you will see the farm has been maintained extremely well by the landowner and tenant with improved terraces throughout the years maximizing drainage and limiting soil erosion.  This years crop of corn has already been harvested so the property wil sell free of any leases.  All mineral rights will pass from the seller to the buyer at closing.    

For the recreational enthusiast don't let the lack of trees on this property fool you as many deer are seen in the lowlight hours frequenting the field in the morning and evening.  Also during waterfowl season many ducks and geese are known to feed in this area offering more recreational opportunities.

Directions: 

From Colony:  At the intersection of highway 169 just north of Colony and highway 58 head west.  Take highway 58 west approximately 6 miles and turn south on SW Barton Road.  Take SW Barton Road 1/4 mile south and the farm will be on the west side of the gravel road.

From Leroy:  Take highway 58 headed east out of Leroy for 7 miles and turn south on SW Barton Road.  Take SW Barton Road 1/4 mile south and the farm will be on the west side of the gravel road.    

Please give Preston Frazell a call to take a look at this great opportunity at 620-363-1345.

Property Highligts:

75.9 total tillable acres out of a total 80.14 acre parcel

72.3 acres of Class 2 Loams

Roadfront access on two sides of the farm both the east and west side of the parcel

7 miles from a Leroy coop offering seed and elevator services

1/2 mile off highway 58 for easy implement access

Well maintained terraces for maximizing drainage and limiting soil erosion

Auction date and location:

Online auction to begin Wednesday November 8, 2023 at 8am while the live auction will begin at 6pm on Thursday November 9, 2023.

Live auction registration beginning at 5:30 pm and auction to begin at 6:00pm.

Live auction location:  McIntosh Booth Insurance

                                    210 South St

                                    Iola, KS 66749

Note:  If you would prefer to bid over the phone please contact Preston Frazell to set up a call in number for over the phone bidding at 620-363-1345.

Auction Terms  (Hybrid)

Online & Live.  Online bidding will open at 8am on November 8, 2023 and the live auction will begin at 6pm on November 9, 2023.  Bidding will be conducted via online, by phone, or in person. The auction will conclude upon closing of the live bidding. 

 Download our app L2 Realty, Inc. or check out the website - https://l2realtyinc.bidwrangler.com/ui

There will be a 10% buyers premium added to the high bid to determine the contract price.  Closing fee and title insurance fee will be split 50/50 between the seller and buyer.  

The property is selling subject to a reserve.

Bids submitted shall be "firm bids" available for sellers acceptance and without contingencies.  Interested buyers need to view the property prior to the date of the auction and have financing approval along with any inspections performed prior to bidding.

Final sales price will be calculated by 80.14 times the final bid.

Upon acceptance of a bid by seller, the real estate contract will be provided by the seller's agent to the successful bidder promptly, and the termed contract shall be executed by the successful bidder and tendered to the seller's agent within 24 hours of the close of the auction.  The earnest deposit in the amount of 10% of the final sales price will be tendered to Security 1st Title within five (5) days of notification and acceptance.  Remaining balance due at the time of closing.

Closing of the sale bid purchase price will be conducted on or before December 11, 2023 at where time seller shall deliver possession.

Selling subject to easements, restrictions, roadways and rights of way.  Preliminary title work included.

Boundary property lines pictured are approximated for reference only.  There will be no guarantee on any fence or property lines as the selling is of the legal description only.

Property is selling "as is"condition and is accepted by the buyer without any expressed or implied warranties.

All terms announced the day of the auction will take precedence over any other advertising.