This Is A Great Opportunity To Purchase A Farm

In Summit Lake TWP, Nobles County, MN!

This Farm Is Located Northwest of Reading, MN, Southeast Of Wilmont, MN

& Northeast of Adrian, MN!

Location: From Reading MN go Northwesterly on 266 for approx. 1 mile to 190th ST. then go approx. ¾ mile West on 190th ST. to the farmland OR from Wilmont, MN go South on Fellows Ave for 2 miles to 180th St. then go 4 miles East on 180th St. to Knauf Ave. then go 1 mile South on Knauf Ave to the farmland. Farm is located in the Southeast corner of the intersection of Knauf Ave and 190th St.. Signs will be posted.

Legal Description of Property: The North Half of the Northwest Quarter of Section 22, Township 103, Range 41 West of the 5th P.M., Nobles County, MN EXCEPT a tract described as follows: Commencing at the Northeast Corner of the Northwest Quarter, thence running West along the Section line a distance of 578 feet to the point of beginning, thence running West along the Section line a distance of 435 feet, thence running South and parallel with the East line of said Northwest Quarter a distance of 690 feet, thence running East and parallel with the North line of said Section 22 a distance of 435 feet, thence running North and parallel with the East line of said Northwest Quarter a distance of 690 feet to the point of beginning, containing 6.9 acres, more or less. Subject to all public roads and easements of record. Sold subject to all drainage taxes, wind access buffer easements, transmission and electrical line easements and any/all assessments if any.

General Description: This farm according to the Nobles County, MN assessor consists of 73.10+/- gross acres. This farm will be surveyed prior to closing to determine exact gross acres. According to Agri-Data this farm has a soil productivity rating of 90.4 and it has a county CER rating of 73.70. The predominant soils in the farm include: L133A-Waldorf, L78A-Canisteo, L140A-Ocheda, L79B-Clarion, L163A-Okoboji, L135A-Okabena, L85A-Nicollet. This farm has a corn base of 45.90 acres with a PLC yield of 169bu and a soybean base of 24.40 acres with a PLC yield of 46bu. This farm is located in a great area in Nobles County, MN! This farm had approx. 6500 feet of drainage tile installed in 1981 and approx. 9485 feet of drainage tile installed in 2004! This farm also has some county drainage tile! The owners of this farm have also entered into an agreement with Northern States Power Company and receive an annual payment for this easement agreement which the buyer shall receive going forward. This property offers an excellent opportunity to purchase a farm which checks all of the boxes including excellent soil ratings, excellent topography and a great location! If you are an established farmer or are looking to purchase your first tract of farmland then be sure to submit a bid to purchase this property!

Taxes: The current Real Estate Taxes according to the Nobles County treasurer are approx. $1,563.00 per year. Seller shall pay the 2024 RE taxes due in the calendar year 2024 which were based on the 2023 tax assessment. Buyer shall be responsible to pay the RE taxes due in the calendar year 2025 which were based on the 2024 tax assessments and all future taxes.

Possession: This farm is available to farm for the 2025 crop year and buyer shall receive full possession on March 1, 2025.

Method of sale: Property will be sold by sealed bids. Buyer will be required to submit a bid for the property by September 26, 2024 @1:00 P.M. to Zomer Company. Bids must be submitted a properly completed bid form received from Zomer Company. Buyer will be required to honor bids until September 30, 2024 @5:00 P.M. and bids may not be retracted for any reason once submitted. The successful bidder will be notified by September 30, 2024 @5:00 P.M. and if you receive no notification that means your bid was not accepted. Upon notification of the acceptance of the bid the top successful bidder will be required to enter into a written purchase agreement with the sellers within 24 hours after notification of acceptance of bid. Bid packets may be requested by emailing blake@zomercompany.com or by contacting Zomer Company at 712-476-9443. If a bid is received after the deadline it will NOT be included. Bids may be submitted by email to blake@zomercompany.com or by mailing it to Zomer Company at 1414 Main St., Rock Valley, IA 51247 ATTN: Blake Zomer. If you email your bid and receive no confirmation of receipt that means your bid was NOT received. If you mail or email your bid and it is not received by September 26, 2024 @1:00 P.M. it will not be submitted! Bids submitted by mail are not guaranteed to be received by due date and bidder is responsible to ensure that their bid is received. This is a one bid opportunity so plan to submit your highest bid! The sellers reserve the right to accept/reject any bid or negotiate with any/all bidders. The sellers will not be required to accept the highest bid and the bid they accept is at the sole discretion of the sellers regardless of the bid amount.

Purchase Terms:

All bids must be submitted on a per acre basis. For purposes of the bid form the county gross acres will be used however bidders agree that after completion of the survey the bid price will be taken times the gross surveyed acres regardless of whether that is more or less than the county deeded acres.

Bidders must submit with their bid a letter of good standing & approval from bidders financial institution on that financial institutions letterhead and signed by bidders loan officer.

Bidders shall be required to submit a 15% NON-REFUNDABLE earnest money deposit check within 24 hours after the notification of the acceptance of that bidders bid.

Bidder shall be required to enter into a purchase agreement with the sellers within 24 hours after notification of acceptance of that bidders bid

Farm will be sold as a cash sale and will not be contingent on financing.

Owners title insurance will be utilized and the cost of the policy and closing fees shall be split 50/50 between buyer and seller. An Abstract for the property will not be provided.

Farm will be sold as is, where is with any/all defects if any and no warranties are expressed or implied and Buyers are encouraged to do buyers due diligence.

Sellers will have the property surveyed and the final gross acres will be adjusted prior to closing.

Seller agrees to provide marketable title to the buyer.

Sellers do not warranty or guarantee that any fences, if any lie on the true boundary line and any new fencing if any will be the sole responsibility of the buyer pursuant to MN statutes.

Closing to be conducted by Winter Title and shall take place on or before November 8, 2024, and if buyer delays closing penalties will apply.

Bids may be submitted by mailing them to Zomer Company at 1414 Main St., Rock Valley, IA 51247 or by emailing them to blake@zomercompany.com. Only bids submitted on a signed bid submission form will be accepted. Call 712-476-9443 with any questions. IF YOU SUBMIT A BID BY EMAIL AND YOU RECEIVE NO RESPONSE YOUR BID WAS NOT RECEIVED. Bids submitted by mail are not guaranteed to be received by due date and bidder is responsible to ensure that their bid is received.