Otsego County will hold a real property tax foreclosure auction of about 50 properties beginning at 10 a.m. Thursday, Oct. 15, online only at www.NYSAuctions.com, according to a media release from the county.
County Treasurer Allen Ruffles said his staff and the county Board of Representatives have been going “all out” to help people be aware of the Wednesday, Sept. 30, deadline to pay taxes before properties go to auction.
“We have been calling and visiting non-stop to get there and it has paid off,” Ruffles said. “We started with 72 properties on the list and it was down to 65 and I think now it might be less than 50 or right around 50. It is never this low and that is because our work is paying off.
“It has been bad news for our staff, because it is a lot of work,” he continued, “but it is good news for county residents. People are paying their taxes and that is good.”
For the remaining properties on the list, the entire bidding process is virtual this year, because of the coronavirus pandemic.
People interested in buying real property at the auction are urged to sign up for a free bidder’s seminar at 7 p.m. Thursday, Oct. 1, through Zoom. The sign up link is available on the auction website at www.NYSAuctions.com.
According to the release: “The informative seminar is facilitated by company representatives and is particularly useful for those attending the county’s auction for the first time. There is a general review of the auction’s ‘terms and conditions’ and useful tips are provided to assist bidders in becoming more informed buyers. The seminar is a great opportunity to learn and to ask questions about the entire auction process.”
All auction information, including the entire list of properties and a copy of the auction e-brochure is available on the website. A printed auction brochure will be available at the Otsego County office building, any town clerk’s office in the county, or by calling 1-800-243-0061.
Auction registration is now available online anytime at the auction website.
Prospective bidders will complete the required information to be approved to bid in the auction. Successful bidders will be required to tender a deposit equal to $500 or 25% of the total contract price (the sum of the bid price plus the buyer’s premium) during the auction.
All properties are sold “as is” and officials suggest prospective bidders complete their due-diligence research prior to bidding at the auction.
The NYSAuctions.com team is composed of Absolute Auctions & Realty Inc. and Haroff Auction & Realty Inc. of Pleasant Valley. The companies provide real property tax auction services to more than a dozen municipalities throughout New York and have conducted more than 150 municipal property auctions since 1991, according to the media release.
Greg Klein, staff writer, can be reached at email@example.com or 607-441-7218.