Louisa County, Iowa REAL ESTATE AUCTION

LETTS, IOWA
Auction held on site at 100 West Iowa Street.

TUESDAY, MAY 22, 2018 AT 4:00PM

Open House on Tuesday, May 8^th,  from 4-5PM

If you are looking for a home with plenty of shop & storage space, don’t miss this auction!

TRACT #1 -  3 BEDROOM HOME WITH 40’X70’ SHOP
The 1 ½ story home was built in 1900 with 1,540 sq.ft. of total living space.  The main level features an entry with a wood burning stove & gas space heater, large living room with pocket doors, large bedroom room with a full bath off of the bedroom.  The kitchen has a built in kitchen cabinet & gas space heater.  The main level also has a laundry room off of the kitchen and an unfinished mud room adjacent to the kitchen.

The upstairs has two bedrooms with wood floors and an attic storage room.  The home has a partial basement with a 200 amp breaker box & electric water heater.  Home amenities include a front porch, vinyl siding, city sewer, city gas & a well.

Several outbuildings are included with this property.  40’x70’ heated shop with infrared heat & wood burning stove, concrete floors, attic storage along with 13’, 12’ & 8’ overhead doors.  The shop also has an attached 15’x30’ lean to building with an overhead door.  24’x40’ detached 3 car garage with hanging gas heater & concrete floors.  16’x20’ detached garage.  16’x16’ two story lawn shed with attic storage.  12’x20’ detached garage.  All situated on a 300’x140’ lot (0.97 Acre).

Included: Window air conditioner, Water softener
Not Included: All personal property.

Tract #1 - Real Estate Taxes
Gross             $1,587.93

Homestead Cr. ($162.43)
Net                 $1,426.00 (rounded)

Assessed Value: $82,850

TRACT #2 – 240’X140’ Vacant Lot

Tract #2 - Real Estate Taxes
Gross             $169.13

Net                 $170.00 (rounded)

Assessed Value: $5,050

Terms: 10% down payment on May 22, 2018.  Balance due at closing with a projected date of July 6, 2018, upon delivery of merchantable abstract and deed and all objections have been met.
Possession: Projected date of July 6, 2018.
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:

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

·       If one buyer purchases both tracts, the seller shall only be obligated to furnish one abstract and deed. (husband & wife constitute one buyer)

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

·       Purchasers who are unable to close due to insufficient funds or otherwise, will be in default and the deposit money will be forfeited.

·       The buyer acknowledges that he/she has carefully and thoroughly inspected the real estate and is familiar with the premises. The buyer is buying this real estate in its "as is" condition and there are no expressed or implied warranties pertaining to the same.

·       Steffes Group, Inc. is representing the Seller.

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

Owners: Raoul D. Wolf Revocable Trust & Peggy A. Wolf Revocable Trust
Brenda S. Hogan & Douglas L. Wolf – Power of Attorney
Tiarr D. Sweere – Attorney for Seller

For information contact Russ Lamp of Steffes Group, 319.385.2000 or by cell 319.212.0774.