An undivided 60% interest in 955.40+/- acres. This prime farmland tract has been owned by the Cloinger family for generations. The property is in rice, corn, and soybeans with approximately 87 acres in CRP and 67 acres in timber.LIVE OFF-SITE AUCTION WITH ONLINE BIDDING
Arkansas Rice Farm For Sale at Auction
An undivided 60% interest in 955.40+/- acres rice, corn, and soybean irrigated farm will be sold at public auction at 10am CST on October 17th2019 in Jonesboro, AR.
This prime farmland tract has been owned by the Cloinger family for generations and they have decided it is time to retire. The property is primarily in rice, corn, and soybeans with approximately 87 acres in CRP and 67 acres in timber. The tracts have a total of 11 deep irrigation capabilities of the farmland tracts having irrigation capabilities. Some lasered and some row fall. The farm is located in a great duck hunting and agricultural area just a few miles northwest of Jonesboro, AR near the town of Bono, AR. All tracts have great access, either by highway frontage, or county road. The tracts are located in Craighead, Lawrence, and Greene counties, but are within a 7-mile radius. Each tract has irrigation. Great duck hunting potential for lease blinds.
Tract 1:423.7+/- acres on HWY 63 Bypass, 4 irrigation wells, highway frontage, Craighead County.
Tract 2:68.39+/- acres on HWY 63, 1 irrigation well, Craighead County.
Tract 3: 120.45+/- acres on County Rd 159. 1 owned irrigation well and 1 shared well, Craighead County.
Tract 4:121.96/- acres on County Rd 398, 1 irrigation well (12”) new well, Craighead County.
Tract 5:38.85+/- acres CRP on County Rd 150. In 2ndyear of 15 year contract. $86.00 per acre
Tract 6:102.42+/- acres on HWY 63 Lawrence County at Sedqwick, 1 irrigation well.
Tract 7: 122.76+/- acres on HWY 228 at Sedqwick, 46.9+/- acres in CRP. $86.00 per acre and balance in woodland which is unencumbered. This tract has deer and ducks. Greene County.
Tract 8:1.08+/- acre commercial lot on HWY 63 in Bono, AR.
Tract 9: Tracts 1-7 combined.
NOTES:Tenant is an undivided interest owner in the property. Current lease is verbal, year to year.
Rents are: 33.3% on Rice
25.0% on Soybeans, Corn
Landlord receives share in government payments. Landlord shares in fertilizer
and chemical cost.
15% soybeans, 20% rice
Cloinger Farms LLC owns 3 of the diesel power units that will convey with their interest.
Mineral Interest- Minerals do not convey.
Current Total Taxes- 9,147.05 for all 3 counties.
TOTAL Taxable Acres – 955.40+/-
TOTAL FSA Farmable Acres – 929.31+/-
TOTAL Mapped Acres – 999.43+/-
At closing final acres will be adjusted by the closing attorney as per the actual deeded acres found in the title opinion and abstract. The buyer will purchase and close according to this final acreage figure.
Please see our live interactive mapping below or the documents tab for printable maps.
Auction Location: Hilton Garden Inn, 2840 S Caraway Rd, Jonesboro, AR 72401
For more information contact Barbara Bonnette at 318-443-6614. AR#13418
Broker: Joe Wilson, Wilson Auctioneers Inc.
REAL ESTATE TERMS & CONDITIONS
REGISTRATION: In order to register at the live auction you must have a bank letter of guarantee or a pre-approval letter from a finance company.
BUYERS PREMIUM: 10% will be added to the final bid price, to be included in the total purchase price. For example, if the property sells for $100,000.00, then the total sales price would be $110,000.00.
DEPOSIT: 10% down day of auction. Balance due at closing on or before 30 days. Guaranteed good title. For example if the property sells for a total sales price of $110,000.00 including buyer’s premium, then a deposit of $11,000.00 would be put down the day of the auction.
FINANCING: Purchasers to obtain their own financing. Purchase Agreements are not subject to financing or qualification. All bidders are encouraged to pre-qualify.
DISCLAIMER: All property to be sold “as is, where is”, with any and all faults and no implied warranties by Seller or Auctioneer. Please feel free to have an inspector or contractor look at the property with you. All information and dimensions were derived from sources believed correct but are not guaranteed. Buyers shall rely on their own information, judgment, and inspection of the property and records, including, but not limited to, all documents recorded in the county or parish where the property is located. All announcements from the auction block will take precedence over any previously printed material or any other oral statements made. Properties not sold absolute will be offered subject to seller’s confirmation within 2 business days. AR Lic#13418
TAXES: Taxes will be pro-rated.