Denmark, IA
Located at 190 North 7^th Street, Denmark, IA

Bidding Opens: Wednesday, July 17^th

Bidding Closes: Wednesday, July 24, 2024 at 10AM

 Open House on Wednesday, July 10^th from 10-11AM 

17.12 Surveyed Acres – Sells in 2 Tracts 

Auctioneer’s Note:  Looking for a secluded building spot or open pastures? This auction offers both! You can buy one or both tracts. Don't miss your chance to bid on these tracts of land located in Denmark, IA.

Tract 1 – Three Pole Buildings on 12.32 Surveyed Acres
Looking for pasture or hay ground?  This tract offers everything you need, complete with outbuildings and interior fencing.  Making it an ideal setup for horses or 4H projects.

•        Buildings include:

o   39’x60’ pole building w/ a 14’x60’ lean to.  The 39’x60’ building has a 12’x12’ overhead door w/ opener, 17.5’x12’ sliding door, partial concrete, LED shop lights, water hydrant & 200 amp electrical.  The 14’x60’ has a kitchen/living area w/ gas space heater, full bathroom and a bedroom w/ a stackable washer/dryer.  Property has Rathbun rural water.

o   30’x45’ open faced pole building w/ 14’x60’ lean to.

o   16’x24’ pole building.

•        Approx. 7 acres tillable, balance being pasture & buildings.
•        Corn Suitability Rating 2 is 67.9 on the tillable acres.
•        Tax Parcel: Partial 120504294270030 = $645.00 Net Approx.
•        Included: Attached fencing, Stackable washer/dryer, LP tank, Remaining LP in LP tank, Any item present on the day of final settlement/closing.
•        Not included:  Air compressor, Van Trailers, Farm Equipment & Personal Property.
•        View FSA Field Map
•        View FSA 156 EZ Form
•        View Tract 1 - Soil Map
•        View Tract 1 - Survey Overlay
•        View Tract 1 - Survey Plat
•        View Tract 1 - Real Estate Contract

 
Tract 2 – Pole Building on 4.80 Surveyed Acres
This tract offers a potential building spot surrounded by timber, making this a great hideaway location on a dead-end road.

•        Property includes a 26’x30’ pole building w/ a dirt floor and a 10.5’x11’ sliding door.
•        A creek runs through the property.
•        Tax Parcel: Partial 120504294270030 = $155.00 Net Approx.
•        Included: Any item present on the day of final settlement/closing.
•        View Tract 2 - Survey Overlay
•        View Tract 2 - Survey Plat
•        View Tract 2 - Real Estate Contract

Terms: 10% down payment on July 24, 2024. Balance due at final settlement with a projected date of September 6, 2024, upon delivery of merchantable abstract and deed and all objections having been met.
Possession:  Projected date of September 6, 2024.
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 auction 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.
•        Tracts will be linked together with the bidding set to close simultaneously. If a bid is placed with less than 4 minutes left, the time on the auction will extend another 4 minutes. This will continue until no bids are placed within the last 4 minutes. Each Tract will stay in bidding extension until there are no more bids placed on any of the Tracts that are linked together.
•        Down payment is due on the day the bidding closes and signing of the real estate contracts will take place through email and electronic document signatures. In the event the auction bidding closes after 3:00pm, the down payment/earnest money will be due the following business day.
•        It shall be the obligation of the Buyer 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.
•        Both Tracts will be surveyed by a licensed surveyor, at Seller’s expense.  Tracts will be sold lump sum price.  In the event the final survey is not completed by auction day or if the recorded survey is different than the announced gross surveyed acres, no adjustments to the final contract price will be made accordingly at closing, as Tract are selling lump sum price.
•        This real estate auction is selling subject to final approval of the survey and subdivision requirements of the county.
•        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).
•        Tillable land is selling free and clear for the 2025 farming season.
•        Tract 1, due to this being an Estate, the Seller will be exempt from Time of Transfer Inspection of the septic, according to Iowa Code 455B.172(11).  Any future inspections, upgrades, repairs, maintenance, or other matters to the septic system will be at the Buyer's expense in accordance with Lee County & Iowa Laws & regulations.
•        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.
•        The Buyer shall be responsible for any fencing in accordance with state law.
•        The Buyer 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.
•        All mineral rights, if any, held by Seller will be transferred to Buyer upon closing.
•        This real estate is selling subject to any and all covenants, restrictions, encroachments and easements, as well as all applicable zoning laws.
•        All lines, drawings, boundaries, dimensions and descriptions are approximations only based upon the best information available and are subject to possible variation. Sketches may not be drawn to scale and photographs may not depict the current condition of the property. Bidders should inspect the property and review all the pertinent documents and information available, as each bidder is responsible for evaluation of the property and shall not rely upon the Seller, Broker or Auctioneer, their Employees or Agents.
•        The Buyer acknowledges that they have carefully and thoroughly inspected the real estate and are 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 real estate.
•        Steffes Group, Inc. is representing the Seller.
•        Any announcements made the day of sale take precedence over advertising. 

Seller: James R. Goodwin Estate

Tammy Dingman - Executor

Christy L. Popejoy of Napier, Wolf & Popejoy LLP – Closing Attorney