Method & Terms

The Holtkamp Farms will be sold in (4) four individual tracts. Tracts 1, 2 & 3 will sell on a price per acre basis, based upon a survey that is currently in progress. Surveyed acres will be used to constitute the final settlement price. Tracts 1, 2 & 3 will be sold through the marketing method of "Buyer's Choice" whereas the high bidder can elect any or all tracts, in any combination for their high bid. "Buyer's Choice" auctioning will continue until all three tracts have sold. We will then sell Tract 4 for a "Lump Sum" total dollar amount. The tracts will NOT be offered in their entirety at the conclusion of the auction. Immediately following the auction, the successful bidder(s) shall enter into a written agreement with the sellers. Taxes will be prorated to the date of possession. Possession will be given on Tracts 1, 2 & 3 at the time of closing, subject to the current lease with the tenants running through February 2025. Full possession will be given on Tract 4 at the time of closing. Tracts 1, 2 & 3 sell free and clear for the 2025 farming season.

Immediately following the auction, the successful buyer(s) will be required to sign a real estate sales contract and pay ten percent (10%) of the purchase price as a non-refundable down payment which will be held in escrow until closing. The balance of the purchase price will be due at closing which will take place on or about August 9, 2024 upon delivery of a merchantable abstract and deed. Buyer(s) will receive 50% of the cash rent as a credit at closing for their respective tracts. Contact the auction manager for lease details. Subject to the Iowa Septic System Law, Tract 4 is held in an estate, therefore the septic system is exempt from any septic system testing or upgrades. Any future septic system testing or upgrades will be at the buyer(s) expense.

Bidding is NOT subject to any contingencies, including but not limited to financing, an appraisal or inspection of the property.

All announcements made sale day take precedence over prior advertising either written or oral. The information in our brochure, in our advertisements and on our website is believed to be accurate; however, no liability for its accuracy, errors or omissions is assumed. All lines drawn on maps, photographs, drone video, etc. are approximate. Buyers should verify the information to their satisfaction. There are no expressed or implied warranties made by the seller or Sullivan Auctioneers, a BigIron company pertaining to this property. Real estate is being sold "AS IS".


Clarence B. "Sage" Holtkamp Trust

M. Rae Holtkamp Estate
Chris Holtkamp - Trustee/Executor

Representing Attorney: 
Alyssa Stewart | Anderson, Roberts, Porth, Wallace, Stewart & Werner LLP
524 N Main St, Burlington, IA 52601 | (319) 754-7585

Auction Manager: 
Jeff Hoyer (319) 759-4320