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July 2, 2008 - The City of Springfield in conjunction with Daniel J. Flynn & Co. of Quincy will auction 40 properties in tax-title possession on Tuesday, July 15, 2008. Registration begins at 5 p.m. and the auction begins at 6 p.m. The Auction will be conducted ballroom-style, at Springfield City Hall located at 36 Court Street, Springfield, MA 01103.
This will be Springfield’s third and largest real estate auction of 2008. Both earlier city auctions were well attended and widely successful.
The July 15th auction portfolio has significantly expanded and offers a variety of opportunity for investors. The 40 city-owned property portfolio consists of several residential and commercial lots, single and multi-family homes and residential condominiums.
Mayor Domenic J. Sarno said such auctions help keep Springfield neighborhoods strong. “They have proven to be effective tools, providing a means to quickly return vacant, abandoned properties back to the tax rolls,” said Sarno.
Auctioneer Dan Flynn said the auction will be one of the city’s largest single-day auctions of 2008. “More variety means more opportunity. Bidders are more likely to find a property or situation at a bargain price,” he said. “A city auction tends to draw more interest than a standard foreclosure auction because there are no banks involved and no hidden liens. The city owns these properties outright so what you bid is what you pay, plus the 5% buyers premium.”
A five percent buyer’s premium covers the auction fee so the cost is added to each high bid which represents the final sale price. Interested parties are strongly encouraged to attend open houses scheduled for Sunday, July 13th from 11am-1PM. Auction participation requires bidders to come prepared with a certified or bank check made out to themselves, which they will endorse to the city if they are the highest bidder.
Interested parties should check the city website or www.flynnauctions.com for specific open house schedules and property information.
Click to view Auction Flyer.
Click to view Auction Forms.
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Page last updated: Tuesday, July 8, 2008 08:23 am
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