In the wake of the country’s recession, news of Real Estate auctions aren’t all that newsworthy anymore; unless, of course, the properties’ owner is a local government.
The Twiggs County Board of Commissioners has voted to sell 15 properties, spread throughout the county, in an internet-only auction beginning Dec. 10th and ending Thursday, Dec. 17th, at 12 noon. The auction is being conducted by Macon-area auctioneers, L.W. Benton Company, Inc., on the company’s website at www.BidderOne.com.
Twiggs County Administrator, Glenn Barton, says the sale of the real estate should benefit the county in two ways. First, through the high bid price someone pays to purchase the property; and, second, through property tax revenues the county can begin collecting again when the land goes back to private ownership.
Barton says 14 of the properties were seized by the county for unpaid property taxes and another was seized by the Twiggs County Sheriff’s Office due to a drug-related offense. None of the sites are needed for any public use, such as fire stations or parks, Barton added.
“We just don’t have a use for them,” Barton said. “They’re of no value to the county unless we put them back on the tax digest.”
The auction is also what’s commonly referred to as “Absolute,” meaning there are no minimum prices or bids set that the properties must bring in order to sell. The high bid the property brings at the auction is the price for which it will sell. Buyers will have to pay an additional 10-percent buyer’s fee as well as any closing costs associated with the transfer of the title, but they will be the new owners, free and clear.
“This is a fire sale,” Barton said. “Whatever bid we get, is the bid we’re going to accept. Whatever it is, it’s still more than we’re currently getting.”
Bo Benton, president of L.W. Benton Company, Inc., says that while his company regularly sells Real Estate at auction and surplus government property like equipment and vehicles, this is the first time they’ve sold surplus government Real Estate. Even so, he added, he’s not surprised.
“Everyone’s feeling the pinch of this economy, including local governments,” Benton said. “An auction is a quick and transparent way to get these properties back into the hands of private owners and back on the county’s tax digest again. The concept’s no different whether you’re selling a bulldozer or a piece of land.”
To bid on the properties or for more information on the auction, visit www.BidderOne.com or call L.W. Benton Company at 478.744.0027.
