3096 Iowa 2 , Promise City, IA 52583(Wayne County)

Peoples Company is pleased to offer to the public, via an Online Only Auction, the property of the David C. Eckles Estate located at 3096 Hwy 2, Promise City, Iowa. This multifunctional property includes a 13,385 sq ft +/- home/building, indoor swimming pool, 30' x 90' metal building with concrete floor and a half-acre pond all situated on 2.74 acres m/l along the western edge of Promise City. The home/building features a large open great room, commercial kitchen, 3 bedrooms, 4 full and 3 half bathrooms, indoor swimming pool, sauna room, and many other rooms that could be easily converted to fit your needs. The kitchen area has a high-dollar stainless steel commercial kitchen which overlooks two large open rooms suitable for your large family and friends gatherings. The property is heated with a geothermal heating system. Outside the home, you will find 2 large screened-in porches, a 1/2 acre pond, and a 32' x 90' metal building. The building has a full concrete floor, two overhead doors with openers, and electric service making it the perfect shop for all of your needs. Any remaining personal property located on the property at the time of closing will be included as part of the sale.

This unique property has multiple options and limitless potential for a new owner such as a residential home, hunting lodge, Airbnb property, bed & breakfast, event center, and much more. It was previously used as a home, church, and fitness center for several years.

The Online Only Auction will open for bids on September 12, 2023, and will close on October 3, 2023 at 6 p.m. CST. All bidding for this auction will take place online only. There will be no live auction to attend. Go to our website to register to bid.

The property will be available for viewing at the Open House from 5-7 p.m. on September 22th, 2023.

For additional information, please contact Listing Agent.

AUCTION DETAILS

#17109 Wayne County Auction Terms & Conditions

Seller:

The Estate of David C. Eckles

The executor of the Estate:

Russell Danielsen

Attorney for the Seller:

Al Wilson, Attorney at Law

Miles Law Firm Corydon, Iowa 50060

How to Bid

Open up the Peoples Company auction you are interested in on our website. Click on any of the BID NOW icons within that auction. This will take you to our Online Bidding platform. Find the auction you wish to participate in and select it. To participate in that auction click REGISTER TO BID. From there you will need to create a bidder account. Once that is created you can bid on any of our Online Auctions.

Co-Broker: Co-Broker must register the client 24 hours before the Auction date by filling out our Broker Registration Form.

Auction Method: The property will be offered as one tract. All bids will be on a whole dollar amount basis. A bid placed within 3 minutes of the scheduled close of the auction will extend bidding by 3 minutes until all bidding is completed. If you plan to bid, please register 24 hours before the close of the auction. Under no circumstances shall Bidder have any kind of claim against Peoples Company or its affiliates if the Internet service fails to work correctly before or during the auction.

Earnest Money Payment: A 10% earnest money payment is required on the day of the auction. The earnest money payment may be paid in the form of a good check or wire transfer. All funds will be held in the Miles Law Firm Trust Account.

Closing: Closing will occur on or around Nov 3rd, 2023. The balance of the purchase price will be payable at closing in the form of a certified check or wire transfer. Concerning the timing of the Seller and successful Buyer in fulfilling the obligations outlined in the Real Estate Sale and Purchase Agreement, time is of the essence.

Possession: Full possession of the property will be given at closing.

Contract & Title: Immediately upon the conclusion of the auction, the high bidder will enter into a real estate sales contract and deposit with Miles Law Firm Trust Account the required earnest money payment. The Seller will provide a current abstract at their expense. The sale is not contingent upon Buyer obtaining financing after the auction is over. All financial arrangements are to have been made before bidding at the auction.

Bidder Registration: All prospective bidders must register with Peoples Company and receive a bidder number to bid at the auction. Bidders must register with the Auctioneer at least 24 hours before the end of the auction.

Property Condition: The property is being sold in "As-Is, Where-Is" condition and with no guarantees of any kind. No repairs, improvements, or any additional cleanup work will be performed by the Sellers. Potential Buyers are welcomed and encouraged to attend the Open House to inspect the property before bidding.

Property Cleanup: It will be the new Buyers responsibility and at the Buyers expense for any cleanup of remaining personal property. All personal property left at the time of closing will remain with the property.

Septic System: The county does not have any records regarding the Septic System. This Estate is exempt from Time of Transfer Septic Inspection Requirements. Any future repairs or replacement to the existing septic system will be the Buyer's responsibility and at the Buyer's expense.

Assessor Parcel: The current Wayne County Assessor's Parcel shows the property as 4.140 acres. A portion of the property on the north end, which totals 1.4 acres, was surveyed and sold to the South Fork Township Trustees for a future expansion to the cemetery. This leaves 2.74 acres m/l for the property being sold.

Taxes: The property is classified as Exempt Commercial due to it being a church. The taxes are currently zero dollars. In the future and dependent upon how the property is used, the property will be reclassified and taxed accordingly per the Wayne County Assessor's Office. Please contact the Wayne County Assessor's Office for additional information.

Other: The sale of this property is subject to all easements, covenants, leases, and restrictions of record. All property is being sold on an As is Where is basis with no warranties, expressed or implied, made by the Auctioneer, Peoples Company, or Seller. Peoples Company and its representatives are agents of the Seller. The winning bidder acknowledges that they are representing themselves in completing the auction sales transaction. Any announcements made before the close of the auction by the Auctioneer or Listing Agents will take precedence over all previous marketing material or oral statements. Bidding increments are at the sole discretion of the Auctioneer. All decisions of the Auctioneer are final.

Disclaimer: All property boundaries are presumed to be accurate according to the best available information and knowledge of the Seller and Peoples Company. Buyer should perform his/her investigation of the property before bidding at the auction. The brief legal description in the marketing material should not be used in legal documents. The full legal description will be taken from the abstract.