Timed Online – WELLSBURG, IOWA REAL ESTATE AUCTION 607 Lincoln St. Wellsburg, IA 50680 Bidding Opens: Friday , Aug. 2nd, 2024 at Noon Bidding Closes: Friday, Aug. 9th, 2024 at 6PM Open House on Friday August 2 from 4pm-6pm Saturday August 3 from 1pm-5pm. Auctioneer’s Note: REAL ESTATE AUCTION in Wellsburg, IA. Shop in Wellsburg, IA. Main Level • 756 SF (18F W x 42F L) - Det Metal (Built 1930) • 672 SF (24F W x 28F L) - Det Metal (Built 1994) • 100.00’ x 150.00’ or 0.34 Acre lot Other Amenities • Replacement windows throughout. Included: any item present on the day of closing. Not included: All personal property listed on auction and pictured. Terms: 10% down payment on April 12, 2024. Balance due at final settlement with a projected date of May 17, 2024, upon delivery of merchantable abstract and deed and all objections have been met. Possession: Projected date of May 17, 2024. Real Estate Taxes: To be prorated to date of possession on the basis of the last available tax statement. Seller shall pay any unpaid real estate taxes payable in prior years. Parcel 881814302009 – Net Taxes- $380.00/year Special Provisions: • This online auction will have a 5% buyer’s premium. This means the buyer’s premium in the amount of five percent (5%) of the bid amount shall be charged to the Buyer and added to the bid amount to arrive at the total contract purchase price. • 10% Earnest money is due on the day the bidding closes and signing of the contracts will take place through email and electronic document signatures. In the event the auction bidding closes after 3:00pm, the earnest money will be due the following business day. Earnest money will be deposited into the Southeast Iowa Realty Trust Account. • If a bid is placed with less than 4 minutes left on the auction, the time on the auction will extend another 4 minutes. This will continue until no bids are placed within the last 4 minutes. • This auction sale is not contingent upon Buyer’s financing or any other Buyer contingencies. • If a Buyer is unable to close due to insufficient funds or otherwise, Buyer will be in default and the deposit money will be forfeited. • This real estate is selling subject to any and all covenants, restrictions, encroachments and easements, as well as all applicable zoning laws. • The Buyer acknowledges that they have carefully and thoroughly inspected the real estate and are familiar with the premises. The Buyer is buying this real estate in its "as is" condition and there are no expressed or implied warranties pertaining to the real estate. • All lines, drawings and boundaries are approximate. • Southeast Iowa Realty, Inc. is representing both the Seller and the Buyer. An Exclusive Buyer Representation agreement will be signed at the close of the auction by the Buyer. • Any announcements made the day of sale take precedence over advertising. • The auction sale is for registered bidders and their guests. All bidding is open to the public and the property is offered for sale to qualified purchasers without regard to sex, race, color, religion, natural origin or handicap. • If required, Buyers shall bear the responsibility and expense to have the septic system pumped and inspected, prior to closing, as required by the Iowa DNR. It shall also be the Buyer’s responsibility and expense, if needed, to upgrade, repair, or any other matters to the septic system in accordance with County and Iowa laws and regulations. Prior to closing, the Buyers shall acquire the proper paperwork required by the county for the septic to pass time of transfer. • If, in the future, a site clean-up is required, it shall be the expense of the Buyers. Seller: Donald & Ardella Geerdes Estate Attorney for Seller - TBD For information contact Kevin Dameron Jr. with Southeast Iowa Realty, Inc. 319-209-8089 Located at 607 Lincoln St. in Wellsburg Iowa 50680. Water access inside with a metal roof. This shop has 1,428 total sq. ft. work space with large doors for easy access to each area. The 12'x11'9" double door opens to the spacious bay of 756 sq. feet (17'x42'x12'H) large enough to store an RV and has a floor drain to accommodate indoor cleaning. The two garage doors grant access to the shop side that uses 672 sq. ft. of space to host an ample shop space to use for any big project or business. Shop dimensions are 24'x28'x9'H with insulation through out the building. NOTE: Contents of Building NOT included Southeast Iowa will represent the buyer and the seller, 5% commission fee on sale. Call Broker-Kevin Dameron at 319-220-5580 with any questions.