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Real Property Auction
2013 AUCTIONS
April 20 - postponed
Next Scheduled Auction:
SEPTEMBER 28
ATTENTION FIRST TIME HOME BUYERS!
You may be eligible for a property tax exemption...
MAILING LIST
To join our mailing list, please send your name and address to finance@albanycounty.com
Division of Finance Voice: (518) 447-7070 |
Jeffrey Neal,
Director of Finance
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QUESTIONS?
Email us at: |
| OCTOBER 2012 AUCTION: City of Albany Water Notice |
| CITY OF ALBANY PARCELS ONLY: The Department of Water and Water Supply will waive all unmetered charges on County properties under the current County auction provided the purchaser terminates the water service within 30 days of closing on the property. Learn More » |
Welcome to the Albany County Auction Information Page
| APRIL 20, 2013 AUCTION POSTPONED: The Albany County Real Property Auction has been postponed until further notice. The next scheduled auction date is September 28, 2013. Please email your USPS mailing address to finance@albanycounty.com to be kept informed of any further changes to the 2013 schedule. |
Albany County has an effective and robust collection process for delinquent taxes—over 95% of the unpaid tax bills received each year are paid prior to foreclosure. All efforts are made to get taxes paid prior to the in rem foreclosure, including yearly letters, on-site visits and contact regarding installment plans.
Where properties remain unpaid, the County sends certified mail notices to all owners, lienholders and interested parties in the public record. A list of the properties and owners are published in legal advertising during the period of redemption, and a listing of the unpaid parcels is posted to Albany County's Auction website for public review.
Where taxes remain unpaid after that process concludes, the County takes possession and sells properties in accordance with the Real Property Disposition Plan. Any parcels not transferred to support local revitalization or affordable housing projects are offered for sale at public auction.
Research conditions carefully prior to bidding! Most properties listed for public auction sale are distressed. You should find out why the owner didn't sell prior to foreclosure. If grant money existed to rehab the building, it likely would have been requested by local housing organizations in the pre-auction process. You can check local vacant building registries to see how long the property has been vacant.
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AUCTION LISTING The auction listing is segregated into three distinct sections to draw attention to known conditions and structural issues: 1. Parcels 1-199 are offered for sale via public bid. While many issues exist for properties neglected and abandoned by owners over a period of time, those in this section have not been flagged with significant codes violations, structural defects, or historic value. 2. Parcels 200-299 are properties that have previously been offered for sale via public bid and failed to close. These properties were likely overbid at prior auction, so extra care should be taken in researching zoning, codes and potential use before bidding. 3. Parcels 300-399 are properties that potentially have considerable risk, such as properties with suspected structural issues, environmental contamination, and those needing additional legal action prior to closing. Properties with significant historic value will be listed here also. These properties require submission of a Request for Bid form [PDF*] disclosing intended use, construction timeframe and ability to rehab, and funding available for anticipated costs. INFORMATIONAL MEETINGS All interested parties are urged to attend the Auction Informational Meetings before each auction. Here you can learn about the auction process, ask questions, and view detailed property information folders. The folders are also available for viewing weekdays in Room 800 at 112 State Street, Albany. Please read the terms and conditions of the auction carefully. If you don't already know how much you can afford to invest, find out. Ask a mortgage company or your banker to pre-qualify you for financing. You don't need to actually apply for a loan before the auction, just determine a ballpark figure which you could comfortably borrow on your income and expenses. Keep in mind that there is NO contingency in the Terms & Conditions and the contract for your inability to obtain financing. If one or more of the properties listed interests you, come to the scheduled showings listed online and in the printed brochure. All auctioned real estate is offered "as is and where is." If you're seriously interested, have an inspector or contractor look over the property with you. Determine what the property is worth to you "as is"—if this amount is within your price range, then this is your working bid. |
BIDDING AT THE AUCTION Brochures are generally available 5 weeks prior to the auction date. If you have not viewed the property and examined the property folder, you cannot bid. Registration to bid on Saturday usually begins two hours before the Auction. Please see the printed brochure for details. There may be a line, but don't worry: Albany County wants all the bidders to participate. The registration staff will efficiently move you through the process and assign you a bidder number. You will be required to provide positive identification (e.g., photo drivers license) and your social security number. If you are purchasing for a business you will have to provide a Certificate of Incorporation and a Federal ID number at the time of bidder registration. If you are bidding on behalf of someone else, you will additionally need their full name, address and social security number, and a signed letter authorizing you to bid on their behalf at time of bidder registration. The name you register under will be the name that appears on the deed. Changes cannot be made after the close of bidding. DEPOSITS AND CLOSING Deposits are due in certified funds the week after each auction in the Division of Finance Offices in ROOM 800, 112 STATE STREET, ALBANY NY. Deposits are due from the high bidder for 20% of the bid amount or $100.00, whichever is greater. Both the high bidder and backup bidder are required to submit Resolution 80 Forms. Closings will take place once the bids are approved by the County Legislature and County Executive. Bidders cannot begin work on parcels until closed. No bid can be approved without a completed Resolution 80 Form. Please see brochure for more details.
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SOLD!
If you are declared the successful bidder or backup bidder, you will be asked for a 20% deposit in certified funds. A completed Resolution 80 form detailing intended use of the bid property will be required with your deposit. The bid amounts and forms are forwarded to the Albany County Legislature for authorization to sell. That process generally takes 45-60 days after bidding closes. Deposits will be returned if any bid is not approved by the Legislature.
Remember, most sales are not contingent on financing. If you cannot pay for your purchase, you may lose your deposit(s).
ALBANY COUNTY DOES NOT PROVIDE TITLE INSURANCE ON ANY PARCEL SOLD. We strongly recommend that bidders secure title searches prior to bidding and/or closing on properties.
Auctions will only be held if there are properties in County ownership. Property listings become available online and in print approximately five (5) weeks prior to auction day. An informational meeting will be held 10-15 days prior to the auction. Property files will be available afterward for public viewing.
Please check our website each month!
