Name Melvin 8 Plex
Auctioneer Vander Werff & Associates
Type Online-Only Auction
Date(s) 11/30/2017 - 12/7/2017
November 30, 2017 @ 12:00 PM
Preview Date/Time Open House: Thursday, November 30, 2017 ~ 5:00 PM - 7:00 PM
Checkout Date/Time December 7, 2017 @ 6:00 PM
Location 158-172 North Street
Melvin, IA 51350
Buyer Premium No Buyer's Premium
General Description: Selling will be an 8-unit apartment complex located at 158-172 North Street in Melvin, Iowa. The property consists of two 4-unit apartment buildings. Each apartment is 560 square feet and has 1-bedroom with a full bathroom. Both buildings were built in 1976, and the current rents are approximately $300 per month. All the units are subject to current tenant rights. Each unit has an individual electric meter with electric baseboard heaters, refrigerator and stove furnished. There are common water meters for the property. The sleeve air conditioners are owned by the tenants. The exterior of the buildings feature brick veneer with some vinyl siding. The roofs have 30-year architectural shingles that were installed in 2008. The lot size is 180’ x 142’. This would make for a great investment property! Brief Legal Description: The West Thirty and zero tenths feet (30.0 ft) of Lot Three (3), and all of Lots Four (4), Five (5), and Six (6), Block Four (4) of the Original Town of Melvin, Iowa. Real Estate Taxes: The estimated net real estate taxes are $1,866 per year. The taxes will be pro-rated to the buyer to the date of possession based on the current taxes. Terms: 10% down payment upon the close of the auction and notification of successful bidder on December 7, 2017. The balance will be due at closing on or before January 8, 2018. Current tenant security deposits will be given to the new buyer. Rent payments will be prorated to the buyers. The seller is a licensed real estate broker. Online auction by Owner-Broker. The abstract will be continued to date. The seller guarantees a clear and marketable title on the property. Possession: January 8, 2018. Open House: An open house will be held on Thursday, November 30 from 5:00 - 7:00 PM. If this is not convenient please contact the auction company at the phone numbers listed below for an appointment to inspect the property. Auctioneer’s Note: Here is a great opportunity to purchase a great income producing property at an online auction. This will be an 'ONLINE ONLY AUCTION’! This method offers you the opportunity to bid at your convenience any time of the day or night. Go to our website: for instructions on how to register and bid. If you have any questions regarding the real estate, or online bidding, please give us a call at 712-729-3264. You can speak with Shannon, Brent or e-mail us as at The open house is on November 30th, with the bidding to begin on November 30 and close on December 7. Thanks for your interest, have fun bidding and please call if we can assist you in any way! Thanks! Brent Auction Terms: This property is being sold "as-is" "where-is". Information contained within this advertising was received from sources deemed to be reliable; however, no warranties are provided by the auction company regarding these. All prospective bidders are encouraged to take whatever steps necessary to satisfy themselves regarding the sizes, condition, real estate taxes and all other information provided in this advertisement. There are no warranties expressed or implied by the auction company or auctioneers. The auction company represents the SELLERS in this transaction. Additional terms and conditions are posted online. Potential bidders must agree to these terms and conditions prior to registering and bidding. Online announcements will supersede any written advertising information. Seller has financial interest in property.
Terms and Conditions Auction Terms & Conditions Vander Werff & Associates and its Employees act merely as agents for sellers. All final bids are subject to the seller's approval. While the information we offer on item(s) is deemed accurate, no warranties are expressed or implied. Information on items is attained by us from the sellers and you agree to hold Vander Werff & Associates and their Employees harmless for any errors or oversights regarding the item(s) being sold. This information comprises but is not limited to year, model, hours, condition, options, structures, unintentional errors in cataloging, authenticity or imperfections not precisely noted and other data pertinent to the value of the item. Buyers are responsible for conducting their own examination or by a third party, during Open Houses/Inspection periods. The winning bidder will be notified via email from the Auction Company. Printed or verbal statements made by the auction company are matters of belief and are made in good faith. ALL ITEMS ARE SOLD AS-IS WHERE-IS. Online auctions have a scheduled open and close date and time. Lots will remain open until no bids have been placed within the last three minutes. Upon your accepted bid of an article, that article shall instantly become your responsibility and be at your risk (whether you have paid for that item or not). You agree that Vander Werff & Associates, its employees, and their sellers are not responsible for lost, stolen or damaged items and will not reimburse or discount items for any theft or damages. Buyers are accountable for any costs incurred to prepare their item(s) for transport. This includes but is not necessarily limited to the cost of any load out, disassembly, or transport and any/all other costs related to physical transfer of their item(s). Buyers are required to pick up sold items on scheduled pickup dates selected by the Auction Company. If payment is not made by scheduled pickup day, all purchases due will be charged to your credit card and subject up to a 3.25% fee. You further understand and agree that failure to remove items in the stated time could result in storage, removal fees and/or forfeited to the Auction Company. By using our online auction service you are entering into a legally binding contract to purchase said item(s). Bids may not be cancelled or withdrawn for any reason. You acknowledge that the internet may be an undependable and an error prone network. Vander Werff & Associates will not guarantee that bids placed online will be conveyed to or received by the auctioneer in an appropriate time frame. You agree to hold Vander Werff & Associates and their employees harmless for any disruptions in bidding and/or auction software. The auction company shall not be held responsible for any missed bids. Further, the auctioneer has the right to accept or refuse any bid(s) at their discretion. Vander Werff & Associates retains the right to add, delete or change some or all of our online services as well as the terms and conditions without notice. Please check back and review auction terms frequently. Bidder responsibilities are but not limited to the following: All bidders must provide their name, email address, phone number, address at which they can be contacted for communication between Vander Werff & Associates throughout any transaction or auction. Bidders will be accountable and must obey any and all local, state and federal laws any/all violations will result in conclusion of bidding and website use privileges with this auction company. All bidders must be liable to provide appropriate forms of payment for items bought. Bidders recognize that this auction has a soft close feature. If any bids are place within the last 3 minutes the bid on that lot or lots will extend an additional 3 minutes until there are no more bids and bidding is idle for 3 minutes. Then final bidding will close and remain closed. A bidder can place a maximum bid on one or more lots. The current bid price does not automatically go to the max bid. When another bidder increases the current bid then the computer will automatically increase the bid in the increment specified until reaching your max bid. When paying within the stated time our acceptable payment methods are cash, check, bank wire or credit card. If a credit card is used, your account will be charged up to a 3.25% convenience fee. If paying by bank wire there will be a $10 incoming wire fee. If check is returned with nonsuffiecent funds there will be a $25 service fee. No items will be released until paid in full. All sales are final.
Your bid must adhere to the bid increment schedule.
Bid Amount Bid Increment
0.00 - 9,999,999.99 500.00 USD
Currency USD
Buyer Premium No Buyer's Premium
Payment Terms
Cash Check Bank Wire MasterCard & Visa In the event you are the high bidder, you will be contacted by Vander Werff & Associates, Inc. Down payment and signing of the purchase agreement will need to be done with in hours of close of auction.
Real Estate will close on January 8, 2018