117.18+/- Acres Faribault County, MN – AUCTION
117.18 Acres +/-
High Point Land Company is incredibly honored to present the Phyllis Kerr Farber Family Farm, located in Faribault County, Minnesota. This live public auction will be held on March 29th, 2023 at the Elmore Legion located at the Minn Iowa Golf Course, 2346 US Hwy 169, Elmore, MN at 1 PM. Bidding will also be available online.
Located in Elmore Township sits this pristine farm consisting of 117.18 +/- acres with 111.9 +/- acres of that being certified cropland acres,
The tillable soils are composed of the highly desired Canisteo clay loam, clarion loam, and webster clay loam, boasting a tremendous average CPI of 92 across the entire property, this well-maintained farm has been a tremendous producer and will continue to be for generations to come.
If you are interested in this property or would like to set up a private showing, contact Minnesota Land Specialist Mitchell Kruger at 507-259-8541
Address: TBD 510th St., Elmore, MN 56027
Directions: This property sits right on the Minnesota/ Iowa state line, less than a mile straight east of highway 169 outside of Elmore, MN on 510th street and just 15 miles south of 1-90.
- 92 CPI across its entirety
- Tenants available
- Great road access with a private drive on west edge of property
- Excellent proximity to local grain markets
Auction Location: Elmore Legion located at the Minn Iowa Golf Course,
Auction Location Address: 2346 US Hwy 169, Elmore, MN at 1 PM
Sale Method: The farm shall be offered in 1 tract and will be available for bidding live and online
Farm Lease: Current farm lease from January 1, 2023- December 31, 2023 (1 year lease)
Purchase Agreement: Immediately upon conclusion of the auction, the high bidder will enter into a real estate sales contract and deposit with the seller’s attorney the required earnest money payment. The Seller will provide a current abstract at their expense. Sale is not contingent upon Buyer obtaining financing.
Earnest Money: 10% earnest money payment is required on the day of the auction. All funds will be held in the sellers’ attorney trust account. Remaining balance will be due at closing. Earnest money is nonrefundable in the event the buyer is not able to successfully close.
Farm Possession: Buyer will receive full possession date of closing.
Farm Closing: April 30th, 2023 (30 days)
FSA Information: Call Land Agent Mitchell Kruger for any FSA information or questions prior to the auction. Note all FSA information, maps and aerial images are estimated to the best knowledge of the seller and High Point Land Company. All information is subject to change.
Mineral Rights: All mineral rights owned by the seller will convey to the buyer.
Bidder Registration: All active bidders must be registered prior to bidding on the farm. All bidders must have a bid card to bid on the farm. Call Agent Mitchell Kruger prior to the sale if you are unable to attend the sale but have interest in the farm. We do have online bidding available.
Terms and Conditions: This sale is subject to all easements, covenants, restrictions of record, and leases. Each Bidder is responsible for conducting, at their own risk, their own inspections, inquiries, and due diligence concerning the property. All property is sold “AS IS-WHERE IS” basis with no warranties or guarantees, either expressed or implied by the Seller or Broker.
Brief Legal Description: SEC:34 SUBD:RURAL SEC/TWN/RNG/MER:SEC 34TWN 101 RNG 27