TERMS:

Seller: Snips of Thread, LLC

Representing Attorney: Paul Goldsmith - Goldsmith Law Office

Sale Date: Sealed Bid Auction Only. Bid are due by 5:00 PM on September 30, 2025. Listing Brokerage will notify bidders of Seller’s response no later than 5:00 PM on October 1, 2025.

Sealed Bid Contents: Bids should include the following: purchase price, proof of funds, buyer name, phone number, mailing address and email address, and a copy of the signed terms and conditions. Bids should be mailed or hand delivered to United Country Real Estate at 1010 South Clinton Street, Albia, IA 52531 or emailed to hawkeye@uciowa.com. If mailed, it must be certified mail with delivery prior to 5:00 PM on September 30, 2025. Listing brokerage is not responsible for bids lost in the mail or unreceived mail correspondence.

Approval of Bids:  Seller is serious about selling this property at auction but does reserve the right to accept or reject the final bid. Each bid shall constitute an offer to purchase, and the final bid, if accepted by the Seller, shall constitute a binding contract between the Buyer and Seller. Seller reserves the right to accept or reject any and all bids at their discretion.

Tracts: The property will be sold as 2 individual tracts (Tract 1: 124 South Front Street and Tract 2: 121 Summer Street) with the option of purchasing one or both. The property is being sold based on the records of Wayne County, Iowa, and is not being sold subject to a survey. The property will be surveyed after an accepted bid occurs. Any boundary lines shown in marketing materials are approximate and for illustrative purposes only. It is the buyer's responsibility to make their own inquiries and verify the property boundaries prior to bidding at the auction. By participating in the auction, the buyer acknowledges and accepts the property as described, per Wayne County records.  

Mineral Rights:  All mineral rights, if any, owned by the Seller will be conveyed to the Buyer.

As is-where is:  Property is sold “AS IS-WHERE IS” and the Buyer should take time to examine this property thoroughly and rely on their own judgement. The only guarantee from the Seller is a valid, good, and marketable title to the property. Neither the Seller, United County Hawkeye Real Estate, or the Auctioneers are giving any warranties other than a clear title. Buyer must conduct their own inspections at their own expense prior to bidding at the auction. The winning bidder may obtain financing or use 1031 exchange funds to complete the purchase; however, the final purchase is NOT contingent upon the buyer’s ability to secure financing, obtain an appraisal, or complete a 1031 exchange. Auctioneers, United Country Hawkeye Real Estate, or its agents are not responsible for any representation made by Seller or their employees and are not responsible for accidents on the sale property should any occur.

Taxes: Taxes will be pro-rated to the date of closing and based on tax acre estimates as sold per Wayne County Treasurer.

Possession: Buyer will receive full possession at closing.

Subject to: The sale of this property is subject to any and all easements of record, covenants, restrictions of record and leases.

Contract and Earnest Payment: Buyer and Seller will enter a standard format Contract for the Sale of Real Estate on the day of auction. Contract will call for 10% earnest within 2 business days of the final acceptance and be held in the Hawkeye Real Estate Trust in the form of a personal, corporate or cashier’s check with the balance of the purchase price due, in certified funds, at closing on or before November 12, 2025. Contracts will contain no financing or inspection contingencies and Buyer must have their own financing and make their own inspections prior to bidding at this auction. Seller will provide abstract continued through date of sale to Buyer’s attorney for title opinion and deliver title by General Warranty Deed. Buyer will be responsible for their own mortgage policies of title insurance (if applicable). The 2025-2026 Property taxes will be prorated. Exact legal to come from deed and abstract.  Buyer is responsible for their own investigation of property and/or zoning for their intended use.

Viewing Dates: The property will be available for viewing on Monday, September 15^th from 5-7 PM. Contact Travis Hamilton at United Country Hawkeye Real Estate at 641-891-4217 for a private showing prior to day of sale.

THE AUCITONEER HAS FINAL SAY.

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