Commercial Building with 15% Return
Office Building for Sale!
112 1st Ave E, Newton, IA
+/- 900 sq/ft on the 1st floor
Newly Updated 900 sq/ft Apartment on the 2nd floor
Heated/ Insulated 2 car Garage
Contact David at 515-996-5263 or Dick at 641-521-3378 (Birkenholz Realty) to arrange for a private showing of the property. Please note: we do not do property showings on Sundays.
Auction Sales Method: The property will be sold in one parcel and the bidding will be a lump sum amount.
This is an online only auction, no live auction will be held. If you prefer to turn in an absentee bid in person, please call 515-996-5263 to make arrangements. All Bidders registering for this auction will have to be approved by the Auction Company before any bids can be placed to prevent an unqualified Bidder from placing bids (example: an underage person or a person with a fraudulent bidding account). If Bidder is known to Auction Company they will be approved quickly after registration. If Bidder isn’t known to Auction Company, a phone call with Auction Company staff or possibly a refundable deposit may be required before placing online bids. Auction Company prefers any unknown Bidders to view the property in person before placing any bids.
Minimum Bid: The minimum bid is $127,000
This property sells without contingencies. Any inspections or financing needed by the Purchaser must be made or arranged before the close of bidding at the Purchaser’s expense. The sale of this property will not be subject to contingencies for inspections, financing or appraisals needed by the Purchaser.
Due Diligence prior to auction: It is the buyer’s responsibility to perform any due diligence on the property. We will facilitate any inspections and questions that you may have.
Online Bidding Procedure: The auction will begin closing on Tuesday, December 28th, 2021 at 2:00 PM Central Time. The closing time will be automatically extended an additional 5 minutes whenever a bid is placed within the last 5 minutes of the auction. When no more bids are placed in the last five minutes of the auction the bidding will close.
Software Technical Issues: In the event there are technical difficulties related to the server, software, or any other online auction-related technologies, Whitaker Marketing Group reserves the right to extend bidding, continue the bidding, or close the bidding. Neither the company providing the software nor Whitaker Marketing Group shall be held responsible for a missed bid or the failure of the software to function properly for any reason.
The Auction Company reserves the right to cancel, suspend, extend or reschedule an auction event or to make changes to the auction closing times in the event of any unforeseen technical or legal problems.
Buyer Broker Participation: We are offering a 2% buyer broker participation based on the opening bid you and your client's offer. You will be required to show that you have a signed buyers agency form when you register for the auction. Please email it to firstname.lastname@example.org
Survey: At the buyer's option and expense, they can have the property surveyed if desired.
Taxes: The real estate taxes will be pro-rated to the day of closing.
Contract and Title: Immediately upon the conclusion of the bidding, the high bidder(s) will enter into a real estate contract and the earnest money will be deposited in the Real Estate Trust Account of the Seller's Attorney. The Seller will provide a current abstract of title at their expense. The seller reserves the right to reject any and all bids.
Earnest Payment: Earnest money in the amount of $1500 shall be due with the acceptance of the offer. The payment may be in the form of a cashier’s check, personal check, company check, or wired funds. Earnest money will be deposited in the Real Estate Trust Account of the Seller's Attorney
Closing: The sale closing is on February 10th, 2022 or such other date agreed to by the parties. Certified funds will be required at the time of closing for the remaining balance of the purchase. The balance shall be paid in the form of certified funds upon closing.
Possession: Possession will be granted at closing, or such other date agreed to by the parties. Seller reserves the right to use the garage until 4/1/22; or lease it back from the buyer until then.
Agency: Whitaker Marketing Group stipulates that they are representing the seller exclusively in this transaction. Whitaker Marketing Group acts as the Auctioneer and Auction Company. The winning bidder acknowledges that they are representing themselves in completing the auction sales transaction.
Notice: All information contained in this brochure and web listing has been gained from sources considered to be reliable. However, bidders are invited to inspect the property and make their own investigations with respect thereto. This sale is subject to all easements, covenants, leases, and restrictions of record. All sales are presumed to be made by the individual judgment of the purchaser. All property is sold on an “As is- Where is” basis with no warranties or guarantees, expressed or implied, made by the Realtor or Seller. All map boundaries are approximate, and photographs used may or may not depict the actual property. All bids will be on a whole dollar amount basis. Seller reserves the right to reject any and all bids. Any announcements made auction day by the auctioneer will take precedence over any previous material or oral statements. Bidding increments are at the sole discretion of the auctioneer. All decisions of the auctioneer are final.
Seller(s): Gregory Bruns