May 21, 2010 – (RealEstateRama) — The City of Springfield, in conjunction with Daniel J. Flynn & Co. of Quincy, will auction off 39 (thirty-nine) properties in tax-title possession on Tuesday, June 8, 2010. Registration begins at 5:00 P.M. and the auction begins at 6:00 P.M. The Auction will be conducted ballroom-style, at Springfield City Hall located at 36 Court Street, Springfield, MA.
Being Springfield’s second auction this year, it is anticipated the auction will generate more funds for city before the end of this fiscal year. Springfield has successfully benefited from selling properties in conjunction with Daniel J. Flynn & Co., Inc. All previous auctions in 2009 and 2010 were well attended and widely considered successful exceeding goals set by city officials.
The 39 (thirty-nine) city-owned property portfolio consists of six residential homes, residential and commercial lots and one commercial property.
“With such a diversified portfolio, the potential benefits, for the buyer as well as the city, are immeasurable.” Auctioneer Dan Flynn remarked. He added, “There is a consistent interest in the Springfield City Auctions. Increasingly popular amongst many repeat customers, we’ve also seen an influx of new bidders looking to invest in a great opportunity and purchase real estate at great price.”
Mayor Domenic J. Sarno stated that “the City has been very aggressive with its tax taking process.” “Getting these properties back on the tax rolls is a huge benefit to the City,” stated Sarno. “More importantly, when these residences are rehabbed it has a tremendous impact on the abutting property owners’ quality of life and adds to the overall aesthetics of our City’s neighborhoods,” added Sarno.
A 5% buyer’s premium covers the auction fee so the cost is added to each high bid which represents the final sale price. Anyone interested is strongly encouraged to visit these properties at the open houses scheduled for Sunday, June 6 from 11:00 A.M.-1:00 P.M. Auction participation requires bidders to come prepared with a certified or bank check made out to themselves in the amount of $5000 per property.
Interested parties should check the city website or www.flynnauctions.com for specific open house schedules and property information.
