Live & Online Auction
5/31/2018 - 10:00AM
Open Houses May 20th, Noon to 3 PM.
4012 Paradise Court NW
Cedar Rapids, IA, 52402
OPEN HOUSE - MAY 20th - NOON to 3 PM. WOW is all we can say. Here is your chance to bid on an absolute amazing property located in Cedar Rapids, Iowa. Words cannot describe this magnificent property! From the detailed exterior to the amazing entrance and indoor pool, to the 6 high end bedrooms with en suite bathrooms to even the guest house! This property has it all! Full
Details of the property
- We can type all day on this property!
Please call to setup a personal viewing or come to the open houses set for May 6th and 20th from Noon to 3 PM.
Entrance is grand and impressive. Beautiful staircase with all hand cut and steamed woodwork including amazing second floor coffered ceilings. Large imported chandelier with motorized cable for lowering and raising. Marble floors throughout entrance and kitchen areas. Hand Painted mural in the coffered ceiling.
The kitchen and dining areas have a cherry finish look with built in wine cooler, lighted cabinetry, built in wet bar with seating and large island with built in custom table. Cabinets are a cherry finish with corion counter tops throughout the entire house. Wolf gas commercial range plus Sub Zero built in refrigerator and freezers.
Master Bedroom has marble floor with pillared double jet tub – gas fireplace – double French entrance doors and balcony doors that overlook the pool – large shower with double heads and steam room – large walk in closet with cherry finish woodwork and doors
5 Bedroom suites with gas fireplaces, jet tubs, double head showers, walk in closets
Pool area is massive with Indoor pool with all services and newer boiler system. This area also has a full bath with double headed shower with a steam room. High ceilings, tropical theme hand painted murals throughout. Double glass French doors plus windows for viewing in both living rooms.
Lower level is fully finished boasting another full bath with double head showers, large entertainment area plus another living room and services.
This home as 8’ 6 panel doors throughout. Custom toilets with remotes, in floor heat, is highly efficient and well insulated, built in patio grill with a beautiful 5,000-gallon waterfall and a professionally installed massive retaining wall. It also boasts two 2 stall heated garages and two laundry rooms.
The guest room features another full kitchen with ½ bath plus two of the bedrooms included above. Last this property features a large custom library/study over the drive way with all custom cabinetry.
This property has 6 gas zoned furnaces, 2 Rinnai on demand hot water heaters, Weild McCalin gas hot water heater plus several zoned hot water heaters, 400 amp panel with 200 amp panel in guest house
Square Footage is hard to define. Please complete your due diligence on square footage prior to the auction. From what the assessors sheet shows, it appears that there is approximately 12,800 s/f ± of total area including the indoor pool. The previous owner suggests that there is a 16,800 s/f footprint of the property.
Terms and Condition of Real Estate Auction
- Auction Real Estate Terms & Conditions for:
4012 Paradise Court NW & 4020 Paradise Court NW, Cedar Rapids, Iowa
Vacant Lots: 316 4th Street SW & 408 4th Avenue SW, Cedar Rapids, Iowa
The Public Auction Sale of the Properties has been approved by Order of the U.S Bankruptcy Court for the Northern District of Iowa. This sale is being conducted pursuant to 11 U.S.C. section 363 and the Federal Rules of Bankruptcy Procedure. All bidders shall be governed by applicable state and federal law.
The Properties will be sold by legal description and for the benefit of secured parties.
Properties will be sold by cash offer or prequalified auction only. The auction is not subject to financing. If the Buyer needs financing, Buyer must secure the necessary proof of such financing prior to bidding on the Properties.
This auction is not subject to an appraisal. The Properties are not subject to any inspections after auction. Any appraisal or inspection must be completed prior to bidding on the Properties.
10% of selling price required day of sale as earnest money and to be deposited into Backes Realty LLC trust account. This is a nonrefundable deposit. If the Buyer cannot perform financially, or tries to avoid the transaction for any reason after the auction, they will forfeit the 10% earnest money.
Balance of the selling price due in full in 30 days or on a date acceptable to both parties whichever is sooner.
Buyer and Seller are each required to sign an Iowa State Bar Association Form, Offer and Acceptance and Disclosure Statement provided by Seller at the close of the auction.
A Merchantable Abstract of Title and a warranty deed provided by the Seller at the closing.
Real estate taxes will be paid by the Seller prorated to date of possession.
Possession of the Properties will be given at the closing.
Final bids on the Properties are subject to Seller approval.
Buyer acknowledges that Buyer has inspected the Properties and is bidding on the Properties in a “where is” “as is” condition with all faults whether known or unknown.
Surveying of the boundary lines of the Properties shall be the responsibility of the Buyer.
The 2017 assessed valuations as shown by the Cedar Rapids City Assessor are:
4012 Paradise: $1,962,000.00 4020 Paradise: $807,700.00 316 4th St. SW: $17,100.00 408 4th St. SW: $9,000.00
The 2017 gross property taxes as shown by the Cedar Rapids City Assessor are
4012 Paradise: $42,785.68 4020 Paradise: $17,589.45 316 4th St. SW: $588.61 408 4th St. SW: $195.99
When the bidding is “Closed” or “Suspended” by the auctioneer for any reason, the bidding will resume when all pertinent information has been determined.
Neither Dick Backes Auctioneers nor Backes Realty LLC assumes any responsibility for the accuracy of the information contained herein, although the information was obtained from sources considered to be reliable.
Announcements made the day of the auction sale take precedence over previous advertiseme