WASHINGTON, IOWA REAL ESTATE AUCTION

Washington, Iowa
1115 East 4TH Street.

Bidding Opens: Thursday, March 10^th

Bidding Closes: Thursday, March 17, 2022 at 4PM

Open House on Thursday, March 3^rd from 4-5PM

Auctioneer’s Note: Tony was well known throughout the Midwest for his dirt late model driving career to inventing the Paw Saver steering wheel to chassis fabrication and engine building at his shop, Stewart Automotive & Engineering, LLC.  Tony passed away on November 17, 2021 and the family has decided to sell the building and the equipment of the entire engine & fabrication shop on these 2 Timed Online Auctions.  Dennis Brown better known as “Brownie” helped Tony for over 35 years. “Brownie” will be available to answer questions pertaining to the shop equipment at 563.506.7907

LARGE 4,400 SQ.FT. BUILDING

• The original 38’x50’ pole frame building was built in 1973 and offers a fabrication/workshop with a 12’x10’ overhead door & opener, office, parts storage, ¾ bath and a walk up attic storage with a Heil gas forced air furnace.
• The 50’x50’ steel frame building was built in 2000 and offers an engine assembly room, engine dyno room, machine shop room, parts wash room and a fabrication room with 12’x10’ overhead door & opener.  This addition has in floor heat and is clear span, which allows for removal of interior walls for your desired application.
• Property has 3 phase electric, city water, city sewer & natural gas.
• The property is zoned B-2 General Business.
• Situated on a 0.25 acre corner lot.
  
  Included: Air compressor, Any item present on the day of closing.
  Not included: All engine dyno equipment, Air hose reel, All attached & unattached workbenches, shelving & equipment, Attached Stewart Automotive & Engineering LLC Sign, Refrigerator.

Terms:10% down payment on March 17, 2022.  Balance due at closing with a projected date of May 2, 2022, upon delivery of merchantable abstract and deed and all objections have been met.
Possession: Projected date of May 2, 2022.
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.

Real Estate Taxes – Tax Parcels 1117428012, 1117428014
Gross           $3,538.79
Business Cr. ($1,320.78)
Net                $2,218.00 (Rounded)

Special Provisions:

• This online auction of the real estate will have a 5% buyer’s premium.  This means the buyer’s premium in the amount of five percent (5%) of the bid amount shall be charged to the Buyer and added to the bid amount to arrive at the total contract purchase price.
• Down payment is due on the day the bidding closes and signing of the contracts will take place through email and electronic document signatures.  In the event the auction bidding closes after 3:00pm, the earnest money will be due the following business day.
• If a bid is placed with less than 4 minutes left on the auction, the time on the auction will extend another 4 minutes. This will continue until no bids are placed within the last 4 minutes.
• Seller shall not be obligated to furnish a survey.
• This auction sale is not contingent upon Buyer’s financing or any other Buyer contingencies.
• If a Buyer is unable to close due to insufficient funds or otherwise, Buyer will be in default and the deposit money will be forfeited.
• 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 acknowledges that Buyer 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 condition of the real estate.
• Seller states the newer addition’s roof in the wintertime has a condensation issue.
• Steffes Group, Inc. is representing the Seller.
• Any announcements made the day of sale take precedence over advertising.

Seller: The Late Tony Stewart

Alyssa R. Stewart – Attorney for Seller

For information contact Lynn Richard of Steffes Group at 319.385.2000 or 319.931.9090

< Click Here > for the Timed Online Engine & Fabrication Shop Auction

Downloads:
Real Estate Contract