80 +/- Acre Land Auction, Lincoln Co., MN

February 28, 2023 10:00 am

Drammen Twp., Lincoln Co., MN

Directions

From Lake Benton, MN 4 miles North on Hwy 75, 5 miles West on Hwy 13, & 1 mile North on 140th Ave. Or From Elkton, SD, 2 miles North on Hwy 13, 3 ½ miles East on Hwy 14, then 5 miles North on Hwy 1 & 2 miles East on 200th St.

Sold For $8,475 Per Acre or $678,000.00

Auctioneer Notes

DUE TO WEATHER CONDITIONS WE ARE POSTPONING THIS SALE TO NEXT TUESDAY, FEBRUARY 28TH, 10:00AM. This sale represents an opportunity to purchase up to 80 +/- acres featuring quality row crop soils on a nearly all tillable farm. This farm is free for possession for the 2023 crop year. The auction will be held live on site, w/ online bidding available.

Overview

This 80 +/- acre farm represents an exceptional opportunity for a nearly all tillable row crop farm that produces strong yields. This farm is located in a strong agricultural area with good access, and is only 1 mile off a tar road. The farm also has approx. over 11,000 ft. of predominantly 5” drain tile. Soils present on this farm are strong Class II Lakepark Clay Loam & Barnes-Buse Complex soils, with a weighted soil productivity rating of 86.1, ideal for corn and soybeans. The farm has a gentle to moderate slope of 0-12%, and a survey will be provided from the sellers for this W ½ of the SW ¼ (see in attachments). The FSA Office shows this to be nearly all tillable farm with a corn PLC yield of 143 bu., and a soybean PLC yield of 40 bu. Don’t miss this opportunity!

Description

W ½ of the SW ¼ Sec. 10, T-110-N, R-46-W, Drammen Twp., Lincoln Co., MN; 80 +/- Acres.

Terms

10% non-refundable earnest money deposit due day of sale with balance due on or before March 31, 2023. Closing fees and title work is split 50/50 between buyer and seller. A new survey for the land will be provided by the seller. The seller does not warranty or guarantee that existing fences lie on the true & correct boundary and any new fencing, if any, will be the responsibility of the purchaser pursuant to MN statutes. New buyer will receive immediate access for 2023 crop year and will be responsible for the 2023 RE taxes, estimated at approximately $18.75 per acre but will be based off new assessment and levy after recorded survey. The new buyer will receive future wind rights, if any, and a drain tile easement agreement will be provided prior to closing to lines that go onto the east field. Tile is as is, where is. Total feet are subject to provided maps and believed accurate but not guaranteed. Original lines are believed to be some clay. This property is sold subject to easements and restrictions, if any, reservations and/or highways of record, and is sold subject to confirmation of owner. Information contained herein, and all statements made herein are believed to be accurate but not guaranteed. Buyers are responsible to conduct their own due diligence for any future uses and practices with the farm. Any announcements made the day of the sale take precedence over written materials. Auctioneers represent the seller and are to be held harmless in this transaction. The sellers are retaining the acreage site and E half of the farm. Buyer or seller may elect to do a 1031 Exchange. Due to rescheduling of the sale, the closing can be moved back one week if needed for the buyers. Closing conducted through attorney, Glen A Petersen of Tyler, MN.

Owner

Rose Drietz Trust; Edward Drietz, Trustee

Additional Information

Burlage Peterson Auctioneers & Realtors, LLC Tyler, Scott, Dustin, Lenny, Jim & Heather Glen A. Petersen - Closing Attorney