February 25, 2011 - The City of Springfield, in conjunction with Daniel J. Flynn & Co. of Quincy, will welcome the Spring with an auction of twenty-nine (29) properties in tax-title possession on Tuesday, March 15, 2011. Registration begins at 5:00 P.M., and the auction will begin promptly at 6:00 P.M. The ballroom-style Auction will be conducted at Springfield City Hall, 36 Court Street, Springfield, MA.
This will be Springfield’s first auction of 2011. It is anticipated the auction will be well attended by experienced auction-goers, as well as some who are new to the real estate auction process. Springfield has successfully benefited from selling properties, in conjunction with Daniel J. Flynn & Co., Inc. All previous auctions in 2008, 2009, and 2010 were well attended and widely considered successful by exceeding goals set forth by city officials.
The twenty-nine (29) city-owned property portfolio consists of seven residential homes, residential and commercial lots and two commercial properties.
“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,” added Sarno.
“The wide selection of properties offers bidders a vast array of opportunity. Potential benefits for bidders, both seasoned and new, are immeasurable.” Auctioneer Dan Flynn remarked. He added, “The increasing popularity in these auctions brings many repeat customers, and a steady influx of newcomers, looking to invest in a great opportunity and purchase real estate at a great value.”
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, March 13, 2011, from 10:00 A.M. -12:00 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.