REAL ESTATE AUCTION

REAL ESTATE AUCTION

Located at 2897 180^th St. (Sawyer Blacktop), Fort Madison, Iowa

BIDDING ENDS TUESDAY, OCTOBER 22, 2024 AT 1:00 P.M.

Open House/Inspection: Tuesday, October 8^th from 5-6 P.M.

General Description: This rural acreage offers 1.35 acres on a desirable hard-surfaced road, featuring a spacious residence with 2,300 sq. ft. of living space, an attached 2-car garage, and a large 30′ X 90′ outbuilding. The home includes 3 bedrooms, a full bath, main floor laundry, and lots of closet and storage space throughout. With updated kitchen and bathroom, several vinyl replacement windows, and some new floor coverings, this property, once a combined general store and residence, offers versatility for either commercial or residential use. It’s serviced by Rathbun Rural Water, LP Gas, and a private septic system (inspected in 2018). While the home requires some TLC and finishing touches, this presents the perfect opportunity to complete it exactly to your needs and preferences. Make it yours today!

Auctioneer’s Note: This real estate was formerly known as the Sawyer General Store. It has tremendous potential for both residential and/or commercial use. We strongly encourage any potential buyers to attend the open house or schedule a private showing. The auction will be conducted online only, allowing each bidder to participate from the comfort of their home, office, or smartphone. For registration and bidding, visit www.fraiseauction.com.

Terms: $10,000 earnest money deposit at the end of the auction with the remainder due on or before November 19, 2024. The seller will provide a current abstract at their expense. Real Estate sells “as is, where is”. Sale is not contingent on Buyer’s financing or any other contingencies. Sale is subject to seller’s confirmation.

Septic System: The property is exempt from the Iowa DNR Septic Time of Transfer Law, as it is bank-owned. The septic system was last inspected in 2018 and met all requirements at that time.

Real Estate Taxes: Taxes will be prorated to the date of closing.

Closing: Closing will take place on or before November 19, 2024. The balance of the purchase price will be payable at closing in the form of cash, guaranteed check, or wire transfer.

Possession: At closing upon payment in full.

DANVILLE STATE SAVINGS BANK – SELLER

BJ Jahn of Aspelmeier, Fisch, Power, Engber & Helling, P.L.C.  – Attorney for Seller

Auction Conducted By:

Fraise Auction & Real Estate

PO Box 8, New London, IA52645

319-372-9121 or 319-367-5744

www.fraiseauction.com

Open House/Inspection: Tuesday, October 8^th from 5-6 P.M.

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COREY FRAISE 319-470-0115