City of Kingston to Hold Tax Foreclosure Auction, 23 Homes
Do you envision yourself as a house flipper? Do you want to put a great deal of 'sweat equity' into a home? Have you ever thought about attending a tax foreclosure auction?
There are 26 properties in Kingston, NY that are now owned by the City of Kingston, because the owners defaulted on their taxes. In order to bid, you will have to register to be a bidder. Registering to be a bidder can be done in advance and up until the actual auction starts.
Here are the particulars from Mayor Nobel's email:
Date: Tuesday, November 14th
Start time: 10:00am
Doors open for registration: 9:00am
Location: Kingston City Hall - 420 Broadway - Kingston, NY
Click here for a full listing of properties to be auctioned. (pdf)
Click here for auction terms. (pdf)
Click here for Ulster County Tax Maps. (website)
Click here for deletions, alternate starting bids and amendments. (pdf)
Click here for Broker's Client Protection Registration Form. (pdf)
Click here for Bidder Registration Form and Frequently Asked Questions (pdf)
Keep in mind, that since this is an auction, there will be fees in addition to what is called 'the final hammer price.' The final hammer price is the price that a bidder agrees to purchase the home/building at. In addition to that price, you will pay a 10% buyers premium directly to the auction house, and any fees that the City asks you to for transferring the deeds, recording fees etc.
For example, the hammer price is $15,000. You would pay any where (total price) from $16500 to $17000 depending on the recording fees.
Still interested? Check it out.