Terms & Conditions

By accepting the terms and conditions of this auction you acknowledge you are entering into a legal and binding contract. You agree to abide by all terms and conditions and you acknowledge receipt of all explanations and information made available by Steffes Group, Inc., also referred to as Steffes Group or Company. 

Payment

When paying within the stated time and with our acceptable payment methods: 

• A buyer’s premium of $1,000 per Tract applies to items purchased on this Live Webcast Auction, if purchased online.  No Buyer's Premium charged if purchased onsite.

• Down payment is due on the day the auction closes and signing of the contracts will take place through email and electronic document signatures..

Acceptable forms of payment:

• Bank Wire Transfer; please call for wire instructions to be emailed to you.
• Check delivered to our office that held the auction
• Check By Phone

Mt. Pleasant, Ames 319-385-2000

• Check By Fax

Mt. Pleasant, Ames 319-385-4709

Agents for Sellers
Steffes Group, Inc. and its Employees act merely as agents for sellers. All auctions are with reserve unless specifically stated otherwise. Auctions are with undisclosed reserves unless advertised otherwise as "Absolute."  Auctioneers, at their discretion, may place a reserve bid on behalf of the seller. All final bids are subject to the seller's confirmation. Only the top bidder will be contacted as to the status of his/her bid. While the information we provide on item(s) is deemed correct, no warranties are expressed or implied as to any items being sold, and you agree to purchase and accept the item in an as-is condition. Information on items is obtained by us from the sellers and you hereby agree to hold harmless Steffes Group and our Employees for any errors or omissions regarding the item(s) being sold. This information includes but is not limited to year, model, machine or engine hours, physical condition, options, features and other data pertinent to the value of the item. All items are sold As-Is-Where-Is unless specific factory or seller issued warranties are listed in the item description.

Inspection

You acknowledge that you have the right and responsibility to inspect the item(s) personally, or to have a third party representative inspect the item(s) for you. That by bidding on an item you have agreed to accept that item in its present condition at its present location and with the description provided whether accurate or not. 

Auction Close

Timed-online auctions will begin to close on the date and time listed. Lots will remain open until no bids have been placed within the last 4 minutes. Timed-online auctions normally close at a rate of 3 lots every 2 minutes.  

Please note that some lots can be tied together and will be set to close simultaneously.  This will be indicated in those lots by a paper clip symbol.  Please hover your mouse over the symbol to see what lots are tied together. The paper clip symbol means that each lot tied will stay in extension until there are no more bids on any of the lots that are tied.

Steffes Group reserves the right to close multiple lots per minute at its discretion. Upon your accepted bid of an item, that item shall immediately become your responsibility and be at your risk (whether you have paid for that item or not). You agree that Steffes Group, its employees, and its sellers are not responsible for lost, stolen or damaged items and will not reimburse or discount items for any type of loss. Buyers are responsible for any costs incurred to prepare your item(s) for transport and/or shipping. This includes, but is not necessarily limited to, the cost of any rigging, dis-assembly, special loading requirements, transport, packaging, insurance, and all other costs related to physical transfer of your item(s). You agree to remit payment and remove from the auction property any purchases within the stated time for the auction being conducted. You further understand and agree that failure to remove items in the stated time for the auction will subject you to moving and storage fees unless arrangements have been made with the seller. 

Buyer Default

When using our online auction services you are making a firm commitment to purchase said item(s) and are entering into a legal and binding contract. Bids may not be cancelled or retracted for any reason. 

Non-paying bidders or fraudulent bidding will subject you to legal recourse and possible criminal charges including any fraud and/or interstate commerce violations. 

Internet Risk

You acknowledge that the internet may be an unreliable and error-prone network. Steffes Group will not guarantee that bids placed online will always be transmitted to or received by the auctioneer in a timely fashion. You agree to hold Steffes Group, Inc. and its employees harmless for any interruptions in online bidding. At the sole discretion of the Company, the auction may be suspended, postponed, or cancelled if internet service is unstable or disrupts the online portion of any event that is simulcast as an Internet Auction. 

Further, the auctioneer has the sole discretion to accept or refuse any bid. Steffes Group retains the right, at our sole discretion, to add, delete, or change some or all of our online services and the terms and conditions governing their online auctions at any time without notice. 

LARGE Louisa County, IA Land Auction

GRANDVIEW, IOWA
Land is located 1 ½ miles northeast of Grandview on County Road G44X.

Auction to be held at the Letts Community Center, 165 W Iowa Street, Letts, IA

TUESDAY, NOVEMBER 9, 2021 AT 10AM

614.91 Surveyed Acres M/L – Sells In 10 Tracts

Survey Now Complete

View [ Survey ] [ Survey Overlay ]

89.1 CSR2!

Selling Free & Clear for 2022 Farming Season!

Online Bidding Available!

Auctioneer’s Note: Steffes Group is honored to offer at Live Public Auction the Louis Gaeta, Inc. land. Take advantage of this rare opportunity to add to your farmland investment portfolio of 610 contiguous acres, only separated by County Road G44X. Tile maps will be posted on steffesgroup.com

“Selling Choice with the Privilege”
Tracts 1-10 will be sold price per gross surveyed acre and will be selling Choice with the Privilege. Whereas the high bidder may choose any Tract or Tracts or all Tracts or any combination of Tracts, in any order, times their high bid. This will continue until all tracts are sold. Tracts will not be recombined.

Tract 1 – 112.09 Surveyed Acres M/L
Approx. 109 acres tillable.
Corn Suitability Rating 2 is 89.1 on the tillable acres.
Located in Section 14, Grandview Township, Louisa County, Iowa.

Tract 1 Soil Map
View Tile Map 1
View Tile Map 2
View Tile Map 3

Tract 2 – 102.20 Surveyed Acres M/L
Approx. 99 acres tillable.
Corn Suitability Rating 2 is 87.4 on the tillable acres.
Located in Section 14, Grandview Township, Louisa County, Iowa.

Tract 2 Soil Map
View Tile Map 1
View Tile Map 2
View Tile Map 3

Tract 3 – 62.85 Surveyed Acres M/L
Approx. 49 acres tillable.
Corn Suitability Rating 2 is 87.7 on the tillable acres.
Located in Section 14, Grandview Township, Louisa County, Iowa.
This tract has a submersible well.

Tract 3 Soil Map
View Tile Map 5

Tract 4 – 100.88 Surveyed Acres M/L
Approx. 78 acres tillable.
Corn Suitability Rating 2 is 85.5 on the tillable acres.
Located in Section 14, Grandview Township, Louisa County, Iowa.

Tract 4 Soil Map
View Tile Map 2
View Tile Map 3
View Tile Map 4

Tract 5 – 15.52 Surveyed Acres M/L
Approx. 7.5 acres tillable.
Corn Suitability Rating 2 is 84.3 on the tillable acres
Located in Section 14, Grandview Township, Louisa County, Iowa.

Tract 5 Soil Map

Tract 6 – 27.43 Surveyed Acres M/L
Approx. 15.5 acres tillable.
Corn Suitability Rating 2 is 72.8 on the tillable acres
Located in Sections 11 & 14, Grandview Township, Louisa County, Iowa.

Tract 6 Soil Map 
View Tile Map 5

Tract 7 – 6.37 Surveyed Acres M/L
Approx. 4.5 acres tillable.
Corn Suitability Rating 2 is 82.5 on the tillable acres.
Located in Section 11, Grandview Township, Louisa County, Iowa.

Tract 7 Soil Map

Tract 8 – 29.08 Surveyed Acres M/L
Approx. 28 acres tillable.
Corn Suitability Rating 2 is 84.8 on the tillable acres.
Located in Section 14, Grandview Township, Louisa County, Iowa.

Tract 8 Soil Map

Tract 9 – 64.76 Surveyed Acres M/L
FSA indicates: 46.5 acres tillable.
Corn Suitability Rating 2 is 86.9 on the tillable acres.
Located in Section 14, Grandview Township, Louisa County, Iowa.

Tract 9 Soil Map

Tract 10 – 93.73 Surveyed Acres M/L
Looking for a hunting or recreational piece of land? This could be your piece of the country with acres of timber to explore!
Located in Sections 11 & 14, Grandview Township, Louisa County, Iowa.

FSA Information for All Tracts

Terms: 10% down payment on November 9, 2021. Balance due at final settlement with a projected date of December 27, 2021, upon delivery of merchantable abstract and deed and all objections have been met.

Possession: Projected date of December 27, 2021 (Subject to tenant’s rights on the tillable land).

Real Estate Taxes: To be prorated to date of possession on the basis of the last available tax statement. Seller shall pay any unpaid real estate taxes payable in prior years. 

The following taxes are approximate and will be used to prorate at closing:
Tract 1 - $4,658.00 Net
Tract 2 - $4,064.00 Net
Tract 3 - $2,419.00 Net
Tract 4 - $3,425.00 Net
Tract 5 - $488.00 Net
Tract 6 - $791.00 Net
Tract 7 - $167.00 Net
Tract 8 - $1,277.00 Net
Tract 9 - $1,971.00 Net
Tract 10 - $78.00 Net

Special Provisions:

• Seller has served termination to the tenant and the land is selling free and clear for the 2022 farming season.
• It shall be the obligation of the Buyer to report to the Louisa County FSA office and show filed deed in order to receive the following if applicable: A. Allotted base acres. B. Any future government programs. C. Final tillable acres will be determined by the FSA office, as some fields are combined and/or overlap Tract lines. 
• All tracts will be surveyed by a licensed surveyor. Tracts will be sold by the acre with gross surveyed acres being the multiplier for said tracts. If the recorded survey is different than the announced gross surveyed acres, adjustments to the final contract price will be made accordingly at closing.
• This auction sale is not contingent upon Buyer’s financing or any other Buyer contingencies.
• If a Buyer is unable to close due to insufficient funds or otherwise, Buyer will be in default and the deposit money will be forfeited.
• If one Buyer purchases more than one tract, the Seller shall only be obligated to furnish one abstract and deed (husband & wife constitute one buyer).
• The Buyer shall be responsible for any fencing in accordance with Iowa state law.
• The Buyer shall be responsible for installing his/her own entrances if needed or desired.
• If in the future a site clean-up is required, it shall be at the expense of the Buyer.
• All mineral rights, if any, held by Seller will be transferred to Buyer upon closing.
• This real estate is selling subject to any and all covenants, restrictions, encroachments and easements, as well as all applicable zoning laws.
• The Buyer acknowledges that they have carefully and thoroughly inspected the real estate and are familiar with the premises. The Buyer is buying this real estate in its "as is" condition and there are no expressed or implied warranties pertaining to the real estate.
• Steffes Group, Inc. is representing the Seller.
• Any announcements made the day of sale take precedence over advertising.

Louis Gaeta, Inc.

Jamie Bosten – Attorney for Seller

For information contact Steffes Group at 319.385.2000;
Russ Lamp at 319.212.0774 or Terry Hoenig at 319.470.7120