Virtual Online Auction
Sale Date: Tuesday, June 6, 2023
Sale Time: 10:00 AM CST
Seller: Gary L. Chipman
Physical Address: 1881 265th Avenue • Ft. Madison, IA 52627
Open House: Thursday, May 25 • 5:00 – 6:00 PM
5.96± Country Acreage • 2 Tracts
Tract 1 – $150,000.00 Lump Sum
Tract 2 – $50,500.00 Lump Sum
Total – $200,500.00
The Chipman property is located in Section 14, West Point Township, Lee County, IA (4 miles southeast of West Point, IA) From West Point, IA go southeast on Co. Rd. J40 3 miles to 265th Ave. Turn right or south and proceed 1 mile to the property.
Both tracts are conveniently located just southeast of West Point, IA. This is an auction that you will not want to miss!
Also selling personal property to include vehicles, utility tractor, tools, household goods & other related items.
Gary L. Chipman
Gregory A. Johnson
516 7th Street
Ft. Madison, IA 52627
Jim Huff (319) 931-9292
Kaycee McGregor (319) 670-8532
Parcel 1 • Country Home & Acreage
- This parcel is improved with a single story, 3 bedroom country home that offers 1,134 sq. ft. of living area. The dwelling has a GFA furnace with central air that was new in 2021 and a newer metal roof that was installed in 2021. Rathbun Rural Water provides the water source to the home. There is a large deck attached to the home providing a great place for grilling or family get togethers.
- Other improvements include a very nice 28ft. x 78ft. detached oversized garage that includes a shop area with (2) large overhead entry doors and (2) overhead garage doors. There is a bathroom that has a shower, office area in the building, has a concrete floor and is fully heated.
- Access is on the south by 265th Ave.
Parcel 2 • 5.5 Acres±
- This parcel includes a 30ft. x 40ft. pole building with a concrete floor and a smaller storage building. There are several nice buildings sites as well as attractive recreational acreage and wooded areas on the property.
- Rathbun Rural Water is in close proximity to the tract.
- Access is on the north by 265th Ave.
The Chipman Property will be sold in 2 individual parcels. Parcel 1 will be sold first for a lump sum total dollar amount followed by Parcel 2 which will be sold for a lump sum total dollar amount. The parcels will NOT be offered in its entirety or in any combinations. Bidding is NOT contingent upon financing, an appraisal or inspection.
Ten (10%) percent of the bid price to be due on the day of sale with the balance due in approximately 30 days, on or before Friday, July 7, 2023 upon delivery of a merchantable abstract and deed.
At the conclusion of the auction, the successful bidder(s) shall enter into a written agreement with the seller. Signing of said agreement will be executed via email or DocuSign. The real estate taxes will be prorated to the date of closing. Full possession will be given at the time of closing. Parcel 1 is serviced by a septic system and is subject to the IA Septic system law. The septic system will require testing, all testing and required updates will be at the buyer(s) expense. For questions or complete details contact the auction company.
The information in this brochure is believed to be accurate; however, no liability for its accuracy, errors or omissions is assumed. All lines drawn on maps, photographs, etc. are approximate. 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. All announcements sale day shall take precedence over any prior advertising either written or oral.