128.46+/- Acres of Brookings Co Land Auction

Closing to take place on or before January 14th, 2025. Buyer to assume CRP contract at closing and will receive full CRP payments starting in the Fall of 2025 if eligible through the FSA office. There is an option for a CRP buyout to provide that this property is free and clear for the 2025 farming season in the amount of $64,326.48 as of 11.6.2024. The buyout fee will be higher at closing due to a favorable interest rate being charged. Upon acceptance of the sale by the seller, a non-refundable earnest money deposit equal to 10% will be due at the conclusion of the sale. If the buyer is not immediately available at the conclusion of the auction, the purchase agreement and non-refundable earnest money deposit must be completed within 24 hours from the close of the auction. The balance will be due at closing. Merchantable title will be conveyed, and title insurance cost will be divided 50/50 between the buyer and seller. Closing costs are to be split 50/50 between the buyer and seller. The 2024 RE Taxes due and payable in 2025 will be paid by the seller. The 2025 RE Taxes due and payable in 2026 will be paid by the buyer. The seller does not warranty or guarantee that existing fences lie on the true boundary, and any new fencing will be the responsibility of the purchaser pursuant to SD statutes. FSA yields, bases, payments, and other information are estimated and not guaranteed, and are subject to County Committee Approval. Information contained herein is deemed to be correct but is not guaranteed. Sold subject to existing easements, restrictions, reservations, or highways of record, if any, as well as any or all Brookings County Zoning Ordinances. Any mineral rights currently owned by the seller will pass to the buyer, however, the seller does not warranty or guarantee any. The RE licensees in this transaction stipulate that they are acting as agents for the seller. A survey/plat will not be provided and will be the buyers responsibility if needed or requested. This is a cash sale. Property is sold as is. This sale is subject to Seller Confirmation. This sale is subject to a 5% buyer premium. Announcements made day of sale take precedence over any written materials. Not responsible for accidents.

From Elkton, SD: Head West on SD-13 for 1 mile. Turn South on 485^th Avenue for .5 miles. The property begins on the East side of the road.

Snapshot:

•         Square, North 106± Acres w/ Soil Rating of 81.8%.
•         Solid Tile Line Currently Runs Through.
•         119.07 Cropland Acres with the Balance of Mature Trees.
•         Currently Enrolled in CRP at $232 on 119.07 Acres.
•         CRP Buyout is an Option.

If you’re going to farm, farm the best in the best area! With an average cropland soil rating of 81.8% PI on the “North” 106 Acres, this prime dirt provides a once in a lifetime investment in Brookings County’s most productive row crop communities, just outside Elkton, SD. Advantage Land Co. proudly presents this 128.46+/- acres of quality dirt with a drainage easement which was put in place with an installed 8” non-perforated tile line out letting in the City of Elkton’s drainage ditch for future drain tile projects, if one pursued. Currently 119.07 acres are enrolled in CRP since October 2022 at a rate of $232.05 for a total payment of $27,630 creating a wildlife refuge with native grasses and 3 different tree belts. The North 106± acres is ready for modern day equipment and has great potential to be farmed and is lined by a mature tree belt that stretches the half mile to keep wind erosion at a stand still. FSA reports a total of 119.07 Cropland acres with currently a 4.92 total base acres comprised of a 4.92 acre Corn base with a 70 bu PLC yield. There is a total of 62.38 acres in the CCC-505 CRP Reduction Acres, broke out to 43.78 acres in Corn and 18.6 Acres of Oats which typically revert back to the base acreage when the CRP contract is either terminated or expired. This property has been enrolled in CRP for 30+/- years creating minimal soil and wind erosion resulting in this quality dirt being ready to go for your operation. There is an option for a CRP buyout to provide that this property is free and clear for the 2025 farming season in the amount of $64,326.48 as of 11.6.2024. The buyout fee will be higher at closing due to a favorable interest rate being charged. This lifetime investment provides quality along with character, so take Advantage of this opportunity to build your base and bid to buy December 12th.