INVESTMENT OPPORTUNITY
ON LINE ONLY AUCTION
1044 20th St SE, Cedar Rapids, IA
This 901 SF home built in 1952 sits on a 60’ x 135’ Lot. Two bedrooms, New Furnace & Central A/C in ’09. 1978 Single car garage. Electrical updated in ’09, Plumbing updated in ’13. Replacement windows ’06.
The property will be sold AS-IS. A great little property near the end of a dead end street so very private with little traffic. Ideal Investment property.
The property will be sold subject to the seller’s approval. At the close of the auction Wears Auctioneering will immediately consult with the seller to determine their willingness to accept the high bid. Seller will have 1 hour to determine if they are willing to accept the high Bid. The High Bidder will then be notified by e-mail and or phone to relay the seller’s decision. I accepted the following terms will apply.
Terms: 10% Down Payment due upon signing of the Purchase agreement. Signing of purchase agreement and down payment due at the office of Wears Auctioneering Inc, 1826 Mehaffey Bridge Rd NE Solon, IA, within 24 hours of confirmation of acceptable offer. If the high bidder does not perform within 24 hours, as outlined above, back up bidder will be given the opportunity to purchase property at their last bid if approved by the seller.
Any remaining balance will be due upon delivery of Deed and Abstract showing merchantable title at time of closing. Closing to occur on or before December 31,2016.
Taxes will be prorated to date of possession. Possession will be given at time of closing.
A 10% Buyer’s Premium will be in effect for this auction.
This auction IS NOT subject to financing or any other contingencies and buyer must close no later than December 31, 2016 or their down payment will be forfeited.
Inspections: The buyer may, at their own expense, perform any inspections they wish prior to the auction’s close. This includes but is not limited to Asbestos, Lead Based Paint, Radon, Wood destroying insects etc. as well as any mechanical inspections. Further more, the buyer agrees to waive their right to a 10 day inspection after the auction for Lead Base paint, Radon and Asbestos, Wood destroying insects etc… Your time of Due Diligence is prior to the auction.
THE PROPERTY SELLS IN AN AS-IS CONDITION.
ALL bidding will take place through our website www.wearsauctioneering.com
BIDDING ENDS November 14 @ 11:00 AM.
Buyer inspection time Friday November 11th from 4 to 6 PM
The auction will offer a soft close, meaning that any bid placed within the last 5 minutes of auction will extend the bidding an additional 5 minutes. This will extend each time that a bid is placed until there has been no increase in the bidding within the final 5 minute limit.
