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Schenectady to put commercial foreclosures up for auction

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Dozens of commercial properties taken through foreclosure will be sold at auction instead of going through the contractor rehab program, Mayor Gary McCarthy said. “They’re really commercial properties, multi-family residences, that don’t fit into the goal of owner-occupied property,” McCarthy said. The city will sell 30 to 50 properties through Collar City Auctions by late April or early May, Zoning Officer Steve Strichman said. Bidders will submit proposals, with a minimum bid and specific repair ...


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comments

justapto
April 2, 2013
9:04 p.m.

[ Flag Post ]

No body can understand the constantly changing rules and terms for the property that will be available. Is the city targeting owner occupied buyers, land lords who want to hold on to the property, flippers, or simply stealing the property from owners who have a financial issue paying over priced taxes on their distressed homes?
Perhaps working with property owners to make sure that the taxes are correct and that the owners can budget the taxes to keep their property and get back on schedule is too much to expect.
Why is the city foreclosing on so much 'valuable' property??

tonijean613
April 3, 2013
5:56 a.m.

[ Flag Post ]

Kathleen Moore- Can you confirm the winning bid will be the "lowest" bid? How does this work exactly? Will the bids be sealed and/or open for public view?

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