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Real Estate Auction - Residential Property w/Large Lot

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  • Item Image for Residential Property w/Large Lot
  • Item Image for Residential Property w/Large Lot
  • Item Image for Residential Property w/Large Lot
  • Item Image for Residential Property w/Large Lot
  • Item Image for Residential Property w/Large Lot
  • Item Image for Residential Property w/Large Lot
  • Item Image for Residential Property w/Large Lot
  • Item Image for Residential Property w/Large Lot
  • Item Image for Residential Property w/Large Lot
  • Item Image for Residential Property w/Large Lot
  • Item Image for Residential Property w/Large Lot
  • Item Image for Residential Property w/Large Lot
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Type:

Live Auction


Time:

10/25/2018 - 5:00PM

Location:

455 Young Street
Jesup, IA, 50648


Map
Summary:

Owners have decided to auction off this corner lot located in downtown Jesup, Iowa. The house can be saved and renovated or taken down to make way for endless possibilities. The lot is over 1/3 of an acre and situated on the corners of Young Street and 5th Street with alley access to the North end of the property. Currently zoned residential. Large lot can facilitate apartments, condos, great for service building (once rezoned) and so much more! This is a gem and a rare auction of a lot like this in Jesup! 10% buyers fee.


Full Details:
Auctioneer Comments
  • Several ways to look at this property.
    If you are a do it yourself kind of person - this maybe a project for you! Rental potential or affordable first time home owner property.
    With the size of the lot and with permission of the City of Jesup, maybe can get 2 lots with 2 new homes for development.
    With potential rezoning from the City of Jesup, this could be a great place for apartments, condos are any multi living units.
    With potential rezoning from the City of Jesup, this could be a very nice corner lot to expand your business or start a new business.
    Make sure and conduct due diligence with the City and ask what this property can be rezoned to if you are the successful buyer!
Property Details
  • Located on 99' x 115' lot for a total of .352 acres
    Main house has 852 s/f main level with 2 bedrooms, kitchen and bath with full upstairs (will call it unfinished) and stone wall basement. City water and sewer. Working furnace. Exterior basement access.
    It is up to the buyer to make determination on functionality of home. Buying as is - where is.
    Detached 2 stall garage
    Located on the corners of 5th Street and Young Street in downtown Jesup, Iowa

Terms and Conitions for Bidding
  • Selling by legal description.

    10% of selling price required day of sale as earnest money and to be deposited into Backes Realty LLC trust accounts.

    A 10% buyers’ premium will be added to the final selling price for a gross total and paid by
    the Buyer at closing

    This is a cash offer or prequalified auction only. Not subject to financing, appraisal or inspection after the auction. If the Buyer needs financing, they must secure the necessary documentations prior to bidding on this property. If the Buyer cannot perform financially, they will forfeit the earnest money.

    Balance of the selling price due in full in 30 days or a date acceptable to both parties.

    Buyer and Seller are each required too sign a Uniform Offer and Acceptance and Disclosure Statement provided by Sellers and executed by Backes Realty.

    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 real estate will be given at the closing.

    Final bid requires Sellers approval.

    Buyer acknowledges the He or She has inspected the premises and are bidding on the properties in a “where is” “as is” condition with all faults whether known or unknown.

    Surveying of the property lines will be the responsibility of the Buyer.

    The 2018 assessed valuation as shown in the Buchanan County Court House is: $51,850.00 with the gross property taxes coming in at $884.00

    When the bidding is “Closed” or “Suspended” by the auctioneer for any reason, the bidding will resume when all pertinent information has been determined.

    Backes Auctioneers nor Backes Realty LLC assumes no responsibility of the accuracy of the information contained herein, although the information was obtained from sources considered reliable.

    Announcements made day of sale takes precedence over previous advertisements.
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