Commercial Development Land Auction – 7.97± Acres

COMMERCIAL DEVELOPMENT LAND AUCTION

7.97± ACRES ∙ 1 TRACT

BIDDING ENDS: THURSDAY, MAY 12^TH | 1PM

Location: This tract of land is located approximately ¾ mile north of Fort Madison, Iowa on Highway 61 to County Highway X-38 (330^th Avenue), then northwest ¼ mile.

LAND DETAILS

• 7.97 ± acres
• Prime development land
• Zoned Commercial and located within the Fort Madison City Limits
• Approximately 6.5 acres tillable
• Water and sewer available
• Access from X-38 (330^th Avenue) and Crabtree Lane

AUCTION DETAILS

How to Bid: Open up the Fraise Auction & Real Estate auction you are interested in at Fraiseauction.com. Click on any of the BID NOW icons within that auction.  This will take you to the Online Bidding Platform.  Find the auction you wish to participate in and open it up. To participate in that auction click REGISTER TO BID.  From there you will need to create a bidder account. Once that is created you are able to bid on any of our Online Auctions

Auction Method: Land will be sold in one individual tract on a price per acre basis, based upon the number of advertised acres. Auction is being conducted Online Only with a soft close, which means a bid placed within 3 minutes of the scheduled close of the auction will extend bidding by 3 minutes until all bidding is completed.  If you plan to bid, please register 24 hours prior to close of the auction.  Under no circumstances shall Bidder have any kind of claim against Fraise Auction & Real Estate if the internet service fails to work correctly before or during the auction.

Survey: Seller shall not be obligated to furnish a survey.

Earnest Money Payment: A $10,000 nonrefundable earnest money payment is required on the day of the auction. All funds will be held in Fraise Auction & Real Estate Trust Account.

Closing & Possession: Closing will occur on or about June 13, 2022 at which time possession will be given.  The balance of the purchase price will be payable at closing in the form guaranteed check or wire transfer.

Contract & Title: Immediately up conclusion of the auction, the high bidder will enter into a real estate sales contract with the Seller. The Seller will provide a current abstract at their expense. Real estate taxes will be prorated to the date of possession. Sale is NOT contingent on Buyer’s financing or any other contingencies.

Seller’s Confirmation: Land sells subject to Seller’s confirmation.

Other: It shall be the Buyer’s responsibility to report to the Lee County FSA office and show filed deed in order to receive the following if applicable (A) Allotted base acres; (B) Any future government programs; (C) Prorate of CRP.  The land is selling subject to all easements, covenants, leases and restrictions of record.  All property is sold on an “As Is, Where Is” basis with no warranties, expressed or implied made by the Auctioneer, Fraise Auction & Real Estate or Seller.  Fraise Auction & Real Estate and its representatives are agents of the Seller. Winning bidder acknowledges that they are representing themselves in completing this transaction. Any announcements made auction day by the Auctioneer will take precedence over all marketing material or oral statements. Bidding increments are at the sole discretion of the Auction Company and can be changed at any time during the course of the auction.

Disclaimer: Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries and due diligence concerning the property.  All lines drawn on maps and photos are approximate.  Overall tract acres, tillable acres, etc. may vary from figures stated within the marketing material.  No liability for its accuracy, errors or omissions is assumed by the Seller or Auction Company.

FIRSTCO LEASING LLC

Richard Fehseke III of Fehseke Law Offices – Attorney for Seller

Feel free to take a look any time!

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COREY FRAISE 319-470-0115