April 1, 2013-Springfield, MA- Let the bidding begin! Mayor Domenic J. Sarno announced today that the City of Springfield will be holding their first real estate auction of 2013 on Tuesday, April 16, 2013 at 6:00 p.m., in City Hall, 36 Court Street, Springfield, MA. With 29 City owned parcels slated for the auction block, this auction boasts to be one of the largest property portfolios the City has released for sale by public auction. Registration for individuals wishing to bid will open one hour prior to the start of the auction, at 5:00 p.m. Auction participation requires bidders to come prepared with a certified or bank check, made out to themselves, in the amount of Five Thousand Dollars ($5,000.00) per property.
Mayor Sarno stated “The real estate auctions have been a great tool in getting properties occupied and back on the tax rolls. This is another tool that is utilized by the City of Springfield to reduce blight and stabilize neighborhoods. We are looking forward to another successful event and good luck to all the potential bidders.”
In offering this abundance of real estate, the opportunities to gain property at a great value abound. The property portfolio consists of 22 residential houses, 6 residential lots and 1 commercial property. Open houses for selected residential locations and the commercial properties will be held on Monday, April 15, 2013, the day before the auction. Times for entry will be published on the auctioneer’s website, at www.flynnauctions.com, as well as details for all of the individual parcels.
"Today's market affords an ideal chance for bidders to be aggressive, in order to acquire real estate at a great value. Whether it's a single family home or an investment property now is an optimal time to buy," says auctioneer, Dan Flynn, of Flynn Auctions.