LAND RENT AUCTION 310 ACRES LOWES KY

310+/- ACRE CASH RENT AUCTION

Auction Dates: 
Online Bidding Only
Monday, February 12, 2024, bidding opens at 10:00 AM
Tuesday, February 20, 2024, bidding ends beginning at 10:00 AM

This is a cash base rent auction with a bonus factor for an annual rental for crop years 2024, 2025, & 2026 Base Rent Due March 1^st Each Year and Bonus to be paid by December 1^st each year. You are bidding for the opportunity to lease 310+/- tillable acres of excellent row crop farmland located in Lowes, KY. Acreage will be based from FSA Maps and GPS Data owner obtains from FSA and Farmer.

Please review all terms and conditions before bidding. An example of the row crop lease is available upon request, email Michael Harris at harris@harrisauctions.com, text or call Michael at 270-970-0200. This high-quality Kentucky farm offers 310+/- tillable acres. The farms are located close to one another and have easy access to Highway 408 and 440 Near Lowes Community.

FARM # 1 Located off of Hwy 408 West and Westbrook Rd, Hickory, Kentucky (The Lowes Community) Total Tillable Acres for Farm #1 = 118.59 Acres

Farm#11617

Tract: 9563

83.73 ACRES

Farm #14547

Tract: 9608

34.86 ACRES

FARM # 2: Located off of Highway 440 and Young Road, Hickory, Kentucky (The Lowes Community) Total Tillable Acres for Farm #2 = 193.91

Farm #13309

Tract: 54788

193.91 ACRES

FSA 156 & Map for 34.86 Acres

FSA 156 & Map for 83.73 Acres

FSA 156 & Map for 193.91 Acres

Soil Map for 193.91 Acres

Soil Map for 118.59 Acres

Farm #1 Map

Farm #2 Map

REGISTER TO BID ONLINE

TERMS:

BUYER PREMIUM

10% BP

Bid + 10% BP will equal your annual cash rent per acre

SUMMARY OF RENT TERMS:

Operator shall pay cash rent (“Cash Rent”) to Owner, as follows:

BASE RENT: TOTAL $ ON 310 +/- Acres @ $$ PRE ACRE CROPLAND ACRES TO BE DETERMINED BY FSA REPORT AND GPS DATA. BASE RENT DUE MARCH 1^ST EASCH YEAR.

+ BONUS TO BE CALCULATED AS FOLLOWS: TOTAL PRODUCTION X AVERAGE OF CROP INSURANCE BASE AND HARVEST PRICES X 32% LESS BASE RENT POSITIVE NUMBER WILL BE BONUS TO BE PAID BY DECEMBER 1ST EACH YEAR.

You are bidding for an opportunity to lease 310+/- tillable acres of outstanding row crop farmland located in Lowes, KY. Tracts are numbered for reference purposes only and will not be divided.

DESCRIPTION

Status: Active Online Auction

You are bidding for an opportunity to lease 310+/- tillable acres of outstanding row crop farmland located in Lowes, KY.

Tracts are numbered for reference purposes only and will not be divided. Bidding will be on the total tillable acres (approximately 310).

Managing Broker/Auctioneer

Michael Harris

(270)970-0200

harris@harrisauctions.com

Auction Dates: 
Online Bidding Only
February 12, 2024, bidding opens at 10:00 AM
February 20, 2024, bidding ends beginning at 10:00 AM

Lease Details:
An example of the owner’s cash rent lease agreement is available upon request. Please email Michael at harris@harrisauctions.com to request a copy. Also text or call Michael at 270-970-0200

Viewing the Farm:
Interested parties can begin viewing the farm at anytime.

Please call or text Michael in advance at 270-970-0200.

Property Locations: 
301 Young Road, Hickory, KY 42069

4081 ST RT 408 W, Hickory, KY 42051

The farm is located near Young Road, State Hwy 440,  Hwy. 408, & Westbrook Road, Hickory, Kentucky (The Lowes Community)

Acre Breakdown:
310 +/- to be leased for row crop in accordance with the lessors lease agreement. You are bidding on 310+/- acres to be leased for row crop.

CRP Information:

Owner to retain CRP payments if applicable.

AUCTION TERMS & CONDITIONS:

Bid increments $5.00 per acre.

This is an online only auction.

Bidders will be required to register and sign terms/conditions before bidding on the auction.

Bidders are required to register 24-hours prior to bid closing day and time.

Bidding is NOT subject to financing, inspections, or other contingencies or delays to the execution of the lease agreement.

Anyone not known by the Auction Company or sellers may be required to show proof of Bank Letter of Credit.

You are bidding on the tillable acres only, winning bidder will not have access rights to other portions of the tracts or any other portions of the farm for any other purposes unless express consent is given by the owner. Owner retains hunting rights.

As a bidder you will only see the bid value, not the bid value plus the 10% premium. The bidder premium will be manually calculated and added post auction. 

Lessee shall execute the lease agreement at close of bidding along with purchase agreement.

Bidding will end with a soft close, meaning that a bid in the final minutes will extend the bidding by approximately 5 minutes.

All bids are placed on a per acre basis (your bid times the advertised acres). Bidders will be required to register and sign terms/conditions before bidding on the auction.

The property is offered“ As Is, Where Is” and no warranty or representation, either expressed or implied concerning the property is made by the owner or Auction Company.

Please inspect the property before bidding. Owner and/or the Auction Company do not guarantee acres.

All information contained in this brochure and all related materials are subject to the terms and conditions outlined in the lease agreement.

Under no circumstances shall Bidder have any kind of claim against Harris Real Estate & Auction, Owner, or any party if the Internet service fails to work correctly before or during the auction.

The information is believed to be accurate; however, no liability for its accuracy, errors or omissions is assumed.

All lines drawn on maps, photographs, etc. are approximate.

Buyers should verify the information to their satisfaction.

There are no expressed or implied warranties pertaining to this property. Both real estate (including all improvements, if any) is being offered As Is, Where Is with NO warranties expressed or implied.

Please make all inspections and have financing arranged prior to the end of bidding.