Terms, Possession, 1031 Tax Exchanges

TERMS OF THE REAL ESTATE AUCTION: An Earnest Deposit of $ 100,000.00 per Tract will be required on Auction Day. The balance will be due on/before July 15, 2022. Title Insurance and Escrow Closing Fees Divided Equally between Buyer and Seller. Marketable Title Provided. Agents Represent Sellers Only.

POSSESSION: Full Possession of the Farm will be provided to the New Buyers on March 1, 2023. Tracts # 1 & 2 are currently leased to Terry Kruse for the 2022 Crop Year. New Buyers will receive Seller’s share of the Cash Rent for 2022 Crop Year and will pay the 2022 Real Estate Taxes when they come due on January 1, 2023.

Tract # 3 is currently leased to Jeffrey Hines for the 2022 Crop Year. New Buyers will receive Seller’s share of the Cash Rent for the 2022 Crop Year and will pay the 2022 Real Estate Taxes when they come due on January 1, 2023.

1031 TAX EXCHANGES: 1031 Tax Exchanges are welcome. All Buyers desiring to do a 1031 Tax Exchange are encouraged to contact the Auction Office at (402) 727-8800 to obtain further information or a draft copy of the Purchase Agreements prior to Auction Day.