City Owned Properties for Sale
The City of Fort Madison has acquired properties through various means and plans to sell these properties to the public at City Council meetings. Each property is unique and may have conditions that apply. Please contact the Planning Director for conditions and questions on the properties listed for sale and the sale process.
Based upon the property, listed below are some conditions that may apply:
- If Improvements are Required such as rehab, demolition or construction, improvements shall be initiated within 60 days and completed within 180 days of approval of the sale by the City Council
- New construction shall begin within 180 days of approval
- An extension of 180 days may be granted if significant progress is made
- Failure to meet time frame may result in forfeiture of purchase
- New construction and rehab shall be subject to review, approval, and inspection of structure for all required permits and codes
- All adjacent lots shall be combined as required within thirty (30) days of sale with the County Assessor’s Office
- If improvements are required, the property transfer may occur upon substantial completion of renovation of the property as required
- Property transfer shall be by Quit Claim Deed
- The City shall record the Quit Claim Deed and required documents with the County Recorder’s Office
- The purchaser shall be responsible for legal and recording fees (approximately $140)
- The City of Fort Madison reserves the right to reject any or all bids and to accept the proposal which is deemed to be in the best interest of the City.
Placing a Bid for City-Owned Property
Interested bidders should fill out a Bid Form and turn in to the City Clerk. The City Council may then sell the property auction-style to the highest bidder at a City Council meeting. If other bidders are interested, they will need to complete and return the Bid Form to the City Clerk prior to the start of the meeting. The Bid Form will provide contact information and request the name to be placed on the Quit Claim Deed.
The City will review and determine the Minimum Recommended Bid for each individual property. Full payment shall be made within thirty (30) days of the sale, unless otherwise provided by the City, with 10% ($500 minimum, depending upon the purchase price) due upon the sale of the property.
The List of Properties is subject to change - check with Planning Director.
- Private acquisition based on requirements for sale of City-owned property
- Property Transfer by Quit Claim Deed
- Properties are sold at City Council meetings (5:30 P.M., City Hall, 811 Avenue E), in an auction-style setting, where bids may be increased
- Properties below with dates on them are scheduled to be sold on that date