July 16, 2012 - Let the bidding begin! The City of Springfield will turn up the heat with their summer real estate auction to be held on Tuesday, July 31, 2012, at 6:00 p.m., at Springfield City Hall. With 44 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.
In offering this abundance of real estate, the opportunities to gain property at a great value abound. The property portfolio consists of 14 residential houses, 16 residential lots, 13 commercial lots and 1 commercial property. Open houses for the residential locations and the commercial property will be held on Monday, July 30, 2012, 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.
“The City has been very aggressive with its tax taking process and getting these properties back on the tax rolls is a huge benefit to the City,” stated Mayor Domenic J. 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.”
"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.