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, Hard wood Floors, New Furnace & Central A/C in ’09. 1978 Single car + garage. Electrical updated in ’09, Plumbing updated in ’13. Replacement windows ’06. Needs a new Roof! Great Hardwood Floors throughout.
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 was offered by us late last fall and did not meet the seller’s desired price, Since that time the seller has lowered their reserve price to $50,000.00 and we are reoffering the property through our website. The Starting bid is therefore $50,000 If you are the high bidder when bidding ends you will own this house at closing.
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, by 12:00 PM Tuesday March 21ST, 2017. 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.
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 April 30, 2017.
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 April 30, 2017 or their down payment will be forfeited.
ALL bidding will take place through our website www.wearsauctioneering.com
BIDDING ENDS Monday March 20, 2017 at 12:00 PM.
Buyer inspection is by appointment.
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.
Doug Wolfe Attorney for Seller