Cedar Rapids Real Estate Sealed Bid Auction by Wears Auctioneering {319-624-3779}

Commercial Real Estate

Sealed Bid Sale

Fritz Properties is offering the following property for sale thru a Sealed Bid process.

620 & 626 1^st ST SW

Cedar Rapids, IA

These houses DID NOT have flood waters in them during the 08 flood.

Written sealed bids must be received by November 30 @ 4:00 PM Wears Auctioneering Offices, 1826 Mehaffey Bridge Rd NE, Solon, IA 52333

PLEASE CLICK HERE FOR HOUSE 1 PHOTO
PLEASE CLICK HERE FOR HOUSE 2 PHOTO
PLEASE CLICK HERE FOR ASSESSOR'S INFORMATION

ALL BIDDERS AGREE TO ABIDE BY SEALED BID AUCTION TERMS EXPLAINED BELOW.

PLEASE CLICK HERE FOR A PRINTABLE SEALED BID FORM
PLEASE CLICK HERE FOR A PRINTABLE PDF FORMAT SEALED BID FORM

The five highest bidders will be notified and invited to a second round of bids on Tuesday November 29 at 10:00 am at which time each will be given the opportunity to raise their bid.

Announcements at second rounds of bids take precedence over all previous advertising and pre-printed materials.

TERMS: 10% down payment upon signing of purchase agreement with seller’s representative day of sale. The remaining balance will be due upon delivery of Deed and Abstract showing merchantable title at time of closing. Closing to occur on or before January 30, 2012.

Taxes will be pro-rated to date of possession.

Possession will be given at time of closing.

The two addressed properties are listed as one unit on the city tax rolls and will be sold together and will not be divided for individual sale.

City Parcel number 14282-83010-00000

Lot Dimensions are listed as 120 x 120 x 140 x 140

The city lists the properties as Commercial, Single Family 2 story Frame house year built listed as 1900 1,988 SF above ground in 8 rooms., 3 bedrooms, Full basement, Radiant heat with a 260 SF porch.

Second home: Single Family 1 story Brick built 1850 912 SF above ground in 4 Rooms, 2 Bedrooms, front and rear porches.

Current Assessed Value: $ 132,711.00

Current Taxes: $ 4,906.00

The above information has been gathered from sources deemed reliable however it is the responsibility of the buyer to verify all pertinent information for themselves.

Wears Auctioneering Inc

1826 Mehaffey Bridge Rd NE

Solon, Iowa 52333

319-624-3779

Attorney for seller: John Wagner

Sealed Bid Instructions

Sealed Bid Instructions

Thank you for your interest in the SEALED BID AUCTION for the property located at 620 & 626 1^st ST SW Cedar Rapids, Iowa 52404.
These houses DID NOT have flood waters in them during the 08 flood.

If you would like to submit a sealed bid to purchase this property, please follow these instructions and submit your bid by Monday November 21, 2011 by 4:00 PM to the offices of Wears Auctioneering at 1826 Mehaffey Bridge Road NE in Solon, Iowa.

1.      Complete the Sealed Bid Form for the property. Please fill in the amount of your bid, your contact information, and sign the Sealed Bid Form.

2.      Prepare a certified check in the amount of $15,000 made payable to yourself. The total deposit required is ten percent (10%) of the contract or purchase price. $15,000 is due with your Sealed Bid Form and the balance of the deposit will be paid upon signing of purchase agreement at the second round of bids on Tuesday November 29, 2011.

3.      Place the Sealed Bid Form, Signed Terms & Conditions, and the certified check in a sealed envelope with the outside clearly marked, 620/626 1^st St SW Cedar Rapids, Iowa 52404 and send or hand deliver to: Brent Wears % Wears Auctioneering, 1826 Mehaffey Bridge Road NE, Solon, Iowa 52333 by Monday November 21, 2011 by 4:00 pm. Registration for this sealed bid auction begins when these notices are sent out and ends at 4:00 pm Monday November 21, 2011.

4.      Bidding closes on Monday November 21, 2011 at 4:00 pm. at the offices of Wears Auctioneering. Wears Auctioneering, the agent, and the seller are not responsible for bids which do not arrive prior to bid closing.

5.      The property closing will occur on or before January 30, 2011.

6.      All bids are subject to the seller’s approval.

7.      If a bid is rejected, payment of deposit referenced herein will be returned the day of the auction.

8.      All bids submitted will be opened at 4:05 on Monday November 21, 2011. If your bid is one of the five highest offers received you will be invited to attend a second round of bidding, where you will have the opportunity to raise your bid. The second round of bidding will be held on Tuesday November 29, 2011 at 10:00 AM. You will be notified by Wears Auctioneering if you qualify for the second round as soon after 4:00 pm on Monday November 21 as possible.
PLEASE CLICK HERE FOR A PRINTABLE SEALED BID FORM
PLEASE CLICK HERE FOR A PRINTABLE PDF FORMAT SEALED BID FORM