Burlington, Iowa LAND & REAL ESTATE AUCTION

BURLINGTON, IOWA
Land and homes are located at 2701 & 2705 West Avenue, Burlington, Iowa.

Auction to be held at the Comfort Suites Hotel & Conference Center, 1780 Stonegate Center Drive, Burlington, Iowa.  

FRIDAY, JUNE 23, 2017 AT 10:00 A.M.

19.4 Acres – SELLS IN 4 TRACTS (Subject to final survey)

Open House on Friday, June 9^th from 4-5 PM

Auctioneer’s Note:  Steffes Group is honored to be selected to sell for the Ruth V. Swisher Revocable Trust.  This an unprecedented offering of undeveloped land in the ever growing Greater Burlington area.  This auction presents an opportunity for the investor, developer and the home renovators!

“Selling Choice with the Privilege”
Tracts #1 & 2 will be sold price per acre and will be sold Choice with the Privilege, whereas the high bidder may take Tract #1, Tract #2 or both tracts times their high bid.  This will continue until both tracts are sold. 

Then Tracts #3 & 4 will be sold lump sum price and will be sold Choice with the Privilege, whereas the high bidder may take Tract #3, Tract #4, or both tracts times their high bid.  This will continue until both tracts are sold. 

Tracts will not be recombined.

TRACT #1 – 8 Acres M/L – Subject to final survey
Potential land development with West Avenue road frontage.  Currently zoned R1.  Tracts #1 & #2 have a combined 16.02 tillable acres. 

Real Estate Taxes on Tract #1
Gross                        $311.45
Ag. Credit                  ($51.39)
Net                            $260.00 Approx.

Not Included: 2017 crops

TRACT #2 – 10 Acres  M/L – Subject to final survey
Potential land development with access from Dill Street.  Currently zoned R1.  Tracts #1 & #2 have a combined 16.02 tillable acres.

Real Estate Taxes on Tract #2
Gross                        $342.48
Ag. Credit                   ($57.32)
Net                            $285.00 Approx.

Not Included: 2017 crops

TRACT #3 – 1 ½ STORY HOME
Home is located at 2701 West Avenue.

This 1 ½ story home has hardwood floors throughout and the home is in need of remodeling & updating.  The home has 1,040 sq.ft. of living space on the main level and was built in 1950.  The main level offers a living room, alley kitchen with stove top & dishwasher, formal dining room, two bedrooms and a full bath.  The walkup floored attic offers plenty of storage space or could be finished.

The basement has a Lennox Pulse high efficient gas forced air furnace with central air, electric water heater, washer, dryer and a 200 amp breaker box.  There is a 20’x24’ detached 2 car garage, all situated on a 125’x228’ lot.  Currently zoned R1.

Included: Stove top, Dishwasher, Washer, Dryer, Pool table

Real Estate Taxes on Tract #3
Gross/Net                  $1,337.00 Approx.

TRACT #4 – 1 ½ STORY HOME
Home is located at 2705 West Avenue.

This home has not been lived in for several years and is in need of a major renovation.  The home has 1,096 sq.ft. of living space on two levels.  The home has hardwood floors in the living room, dining area and front bedroom.  Also on the main level is the kitchen, a second bedroom and a full bath.  There are two additional bedrooms upstairs.

The basement has a gas forced air furnace with central air, electric water heater and a 100 amp breaker box.  There is an older building, all situated on a 125’x228’ lot.  Currently zoned R2.

Real Estate Taxes on Tract #4
Gross/Net     $992.00 Approx.

TERMS ON ALL TRACTS

Terms: 20% down payment on June 23, 2017. Balance at closing with a projected date of August 7, 2017, upon delivery of merchantable abstract of title and a trustee’s warranty deed and all objections have been met.
Possession: Projected date of August 7, 2017. (Subject to tenant’s rights on the tillable land)
Real Estate Taxes: To be prorated to date of possession on the basis of the last available tax statement.  Seller shall pay any unpaid real estate taxes payable in prior years.

Special Provisions:

• Tracts # 1 & 2 are selling subject to tenant’s rights and are rented for the 2017 crop year.  The farm land is rented on a 50/50 crop share basis. The buyer(s) will receive 50% of the crop. The buyer(s) will also be responsible for 50% of the input costs & will reimburse any expenses already paid for the 2017 crop year.

• The seller has served termination to the tenant.

• It shall be the obligation of the buyer(s) to report to the Des Moines County FSA office and show filed deed(s) in order to receive the following if applicable:   A. Allotted base acres.  B. Any future government programs.  Final tillable acres will be determined by the Des Moines County FSA office.

• All Tracts will be surveyed by a registered land surveyor.  Surveyed acres will be the multiplier for Tracts #1 & 2.  Tracts #3 & #4 will be sold lump sum price.

• This auction sale is not contingent upon Buyer’s financing or any other Buyer contingencies.

• The buyer(s) shall be responsible for any fencing in accordance with Iowa state law.

• If one buyer purchases more than one tract, the seller shall only be obligated to furnish one abstract and deed. (husband & wife constitute one buyer).

• The buyer(s) shall be responsible for installing his/her own entrances if needed or desired.

• If in the future a site clean-up is required it shall be at the expense of the buyer.

• This real estate is selling subject to any and all covenants, restrictions, encroachments and easements, as well as all applicable zoning laws.

• The buyer(s) acknowledge that they have carefully and thoroughly inspected the real estate and are familiar with the premises. The buyer(s) are buying this real estate in its "as is" condition and there are no expressed or implied warranties pertaining to the same.

• Any announcements made the day of sale take precedence over advertising.

Owner: Ruth V. Swisher Revocable Trust
Farmers & Merchants Bank & Trust – Trustee
Kelli S. Johnson – Trust Officer

Sara L. Haas – Attorney for Trust

For information contact Nate Larson of Steffes Group, 319.385.2000 or 319.931.3944 (cell)