161.37 +/- Acre Land Auction, Moody Co., SD

April 20, 2023 10:00 am

Riverview Twp., Moody Co., SD

Directions

From Flandreau, SD – 7 miles north on Hwy. #13 to the Ward Corner, then 7 miles west on Co. Hwy. #4/223rd St. and ½ mile north on 474th Ave.; or from Brookings, SD - 11 miles south on I-29 to the Ward Exit #121 and 1½ miles east and ½ mile north on 474th Ave – the NE Corner of the land is at the Jct. of 474th Ave. and 222nd St.

Sold for $9,200 Per Acre or $1,484,604.00

Auctioneer Notes

Well Located +/-161.37 Surveyed Acres of Riverview Township, Moody County SD Land, with a Mixture of High Quality Cropland, CRP & Hunting & Wildlife Habitat – This Land is Located Near the Ward, SD Exit on I-29 and in a Prominent Agricultural Area of Northern Moody County, SD. Come prepared to buy. View the attached Flyer for aerial & soil maps and survey.

Overview

This auction presents the opportunity to purchase a farm that has been in the Eide/Miller family for over 70 years. This surveyed +/-161.37 acre parcel of land will be offered as a unit. The location of this land being just 2 miles from the Ward Exit, ½ mile from a County Hwy. and within 15 miles of Brookings, SD, could potentially provide an opportunity for establishment of a rural acreage site situated in northern Moody County and just 2 miles from the Brookings County Line. This farm has a variety of amenities for both the row crop operator seeking productive cropland with mostly Class I & II soils and for the hunting and wildlife enthusiast due to the existing CRP and wildlife type habitat situated in the NE sector of the farm, as well as other nearby properties with existing wildlife habitat. According to FSA information this farm has approx. 158.09 acres of farmland, with approx. 136.12 acres of total cropland and 116.30 acres of effective cropland subsequent to the CRP acreage reduction, subsequently at present there are approx. 116.30 acres is currently under cultivation with approx. 19.82 acres presently enrolled in the CRP program; the non-cropland acres consist of approx. 22 acres of lowland wildlife habitat & roads; with an extremely high percentage 116.3 acre corn base with a 130 bu. PLC yield and is currently is enrolled under the ARC County Election of the USDA farm program. The 19.82 acres of CRP are enrolled under contract #11164 at $298.44 per acre for a total annual payment of $5,915.00, with the contract scheduled to expire on Sept. 30, 2027. According to information obtained from the Moody Co. Assessor this farm has an Overall Soil Rating of .777 comparatively, information obtained from Surety Agri-Data Inc. indicates this farm has an overall weighted productivity index of 78.1; however, when measured the acres presently under cultivation have a rating of 88.7. The general topography of the cropland acres on this farm are level to gently rolling, with some lower lying areas in the CRP and non-tillable acres/drainage areas. The RE taxes payable in 2023 on this land are $3,937.32. This land is sold subject to an existing cash rental lease for 2023, whereby the buyer will receive a seller enhanced rent credit at closing of $300.00 per acre on 118.5 acres for a total of $35,550.00; additionally, the buyer will receive 100% of the CRP payment with no proration scheduled to be payable on Sept. 30, 2023 in the projected amount of $5,915.00.

Description

The NE¼ of Sec. 17, T. 108N., R. 49W., (Riverview Twp.), Moody County, SD, containing 161.37 Acres M/L

Terms

Cash – A 10% non-refundable earnest money payment on the day of the sale and the balance on or before June 9, 2023 with landlord’s possession on the tillable acres under a cash lease for 2023 & full possession of the CRP & non-cropland acres. Marketable Title will be conveyed with an owner’s title insurance policy provided with the cost divided 50-50 between the buyer and seller, additionally a title company closing fee, if any, will be divided 50-50 between the buyer and seller. The buyer to receive 100% of the CRP payment payable in 2023 with no proration scheduled for payment on Sept. 30, 2023; subsequently the new owner will succeed to the existing CRP contracts with the new owner(s) to be obligated to comply with all of the remaining terms and provisions of the existing CRP contracts; any penalty for non-compliance or buyout of the existing CRP contract will be the responsibility of the new owner(s). All of the 2022 RE taxes payable in 2023 will be paid by the sellers, with the purchaser to be responsible for 100% of the 2023 RE taxes payable in 2024. The acres being sold are based on a survey as completed by Midwest Land Surveying, Inc., with the acres are understood to be “more or less”. The sellers do not warranty or guarantee that the existing fences lie on the on the true and correct boundary and new fencing, if any, will be the responsibility of the purchaser pursuant to SD law. FSA CRP data, cropland, yields, bases & other information is estimated and not guaranteed and are subject to county committee approval. Information contained herein is deemed to be correct but is not guaranteed. This property is sold in “AS IS” CONDITION and subject to any existing easements, restrictions, reservations or highways of record if any, as well as any or all County Zoning Ordinances. The RE licensees in this transaction are acting as agents for the owners. Sold subject to confirmation of the Owners.

Owner

HEIRS OF EDWARD & DIANE “EIDE” MILLER

Additional Information

Chuck & Jared Sutton, Sutton Auction Firm; Tyler, Scott, Dustin, Lenny, Jim, Nolan & Heather, Burlage Peterson Auctioneers & Realtors, LLC - 605-692-7102/605-336-6315