November 1, 2014

Going once… Going twice…

Arenac County hosts foreclosed property auction

Tim Barnum
Marty Spaulding, standing, takes bids during the Arenac County land auction on Aug. 29.
By Tim Barnum
Staff writer
Posted

STANDISH — About 360 registered bidders and 200 online bidders looking for property participated in the Arenac County land auction at the Standish Knights of Columbus Hall on Aug. 22.

County Treasurer, Dennis Stawowy, says nine out of 25 properties in Arenac County were snatched up Friday.

“We sold $30,900 worth,” Stawowy said. “The properties that we offered up had a total of $44,650 due... That’s money owed to the county tax-revolving (fund).”

Stawowy says the 16 foreclosed properties probably weren’t purchased due to the economic state of Michigan.

“I think there were people there looking for bargains, but they weren’t willing to go crazy like they would in the auction last year and the year before,” Stawowy said. “They’re looking for a bargain at the next auction.”

The next auction Stawowy refers to is the next round of foreclosure auctioning that will be held in October, when the starting price of all parcels is $50. The starting price in the Aug. 22 auction was the amount owed to the county in back taxes.

Out of the properties sold on Friday, Stawowy says the top-dollar amount was for a property in Arenac Township that sold for $11,000. The amount owed in taxes was only $2,600.

Out of the 16 left, Stawowy says many of the parcels are quite small or in need of some clean-up and restoration to prepare them for sale or development. He also added six of the properties are boat slips in AuGres.

However, even with a starting bid of $50, Stawowy says it is possible no more properties will be purchased.

“It become the property of the township (it’s in if it’s not purchased),” he said. “If the township doesn’t want it, they can refuse it and turn it over to the county. Then the county can refuse it and turn it over to the state.”

According to Stawowy, people at the auction who did buy properties had to have certified funds or cash for the first $1,000 of their purchase parcel. The remainder of the purchase could be paid for with a check or credit card, he said.

Roscommon, Oscoda, Osceola, Ogemaw, Missaukee, Gladwin, Crawford and Clare County properties were also auctioned off at the Aug. 22 auction in Standish.

Auction services were provided by Title-Check, of Kalamazoo. Marty Spaulding, of Title-Check, was the auctioneer.

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