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Grey – Absolute Real Estate Auction – Ranch Style Home in Madison, SD


Fixer Upper One Story 3 Bedroom Ranch Style Home in Madison, SD

Due to recent flood damage to this residence, the out of state owner has authorized the sale of this property at “absolute” auction, with the auction to be held “On Site” at the residence located at 706 N. Blanche in Madison, SD; of from the Pizza Hut/Sunshine Foods Corner at the Jct. of NW 2nd St.&N. Blanche Ave. – 3½ blocks north on N. Blanche Ave.

SATURDAY DECEMBER 7, 2019        Sale Time: 9:30 AM

Home to be Shown by Appointment – Contact Either Wayne Bessman at 605-270-4980 or the Office of Chuck Sutton Auctioneer & Land Broker, LLC – ph. 605-336-6315

REAL ESTATE:  This is a well located one story fixer upper 3 bedroom ranch style home.  This structure had a foundation and water damage as a result of the 2019 flood in Madison, SD, with the subsequent damage being primarily foundation breach on a portion of the east concrete block wall in the basement – (which the seller has at their expense, had braced and shored up by a concrete contractor to limit further damage and had a cover and safety fence installed to avoid vandalism and/or injury from parties inspecting the premises), additionally there was damage to the furnace, water heater, that will necessitate replacement.  The main level of the house has approx. 1,040 sq. ft. and does not appear to have incurred any significant damage as a result of the lower level water penetration, although the upper level does appear to be in need of some cosmetic updating and repair.  The upper level consists of a living room, kitchen w/cabinets, full bath & 3 bedrooms w/oak hardwood floors and closets. The exterior of the home has masonite siding and laminate shingles. Additionally this property has an unattached double garage (approx. 22’x26’ with 2 OH doors.  This home & garage are situated on a lot which is approx. 78.8×136’ according to Co. Assessors info. 50’x88′.The owner had no flood insurance and resides in California, and is not available to oversee nor manage the remodeling process, thus this home will be a project house for a contractor, investor or potential future owner occupant.  This home is conveniently located to Dakota State University, downtown Madison, SD and community employment and points of interest.  Even though this home needs repair and renovation, this home has potential. This property is sold “AS IS, WHERE IS”.  The owner has made their decision to move on and to sell this property, so come prepared to bid and buy, as this property sells absolute with no reserve!

LEGAL DESC.:  The S. 12’ of Lot 2 and All of Lot 3 of Olsbo’s First Subdivision of Part of Block 24, Kennedy’s Second Extension of the City of Madison, Lake Co., SD.

TERMS:  Cash – A 15% nonrefundable earnest money payment on sale day with balance on or before Dec. 30, 2019.Marketable Title will be conveyed and an Owner’s title insurance policy will be provided with the cost of divided 50/50 between the buyer and sellers. All the 2018 Real Estate taxes payable in 2019 in the amount of $1,539.28will be paid by the sellers, and based on that amount the 2019 RE taxes will be prorated to date of closing.  According to the Madison City Engineer this property is located within the 100 year flood plain. This property is sold in “AS IS” condition with no contingencies whatsoever, and subject to any existing easements, restrictions or reservations of record, if any. RE Licensees/Auctioneers are acting solely as agents for the sellers.  Property is sold “Absolute” with “No Reserve”.   To view this property contact Wayne Bessman – ph. 605-270-4980 or the office of Chuck Sutton Auctioneer & Land Broker, LLC – ph. 605-336-6315. For additional information contact the auctioneers.


CHUCK SUTTON – Auctioneer & Land Broker – Sioux Falls, SD – ph. 605-336-6315

WAYNE BESSMAN – RE & Pers. Property Auctioneer – Madison, SD – ph. 605-270-4980

JARED SUTTON – Auctioneer & RE Broker Assoc. – Flandreau, SD – ph. 605-864-8527