“Does anyone else want one for $50?” Dempsey asked as he tried to auction off 14 lots in North Rome. “The county may be selling these for $1,000 next year. I just got a feeling things are going to go crazy.”
And there were deals to be made on the 123 properties, some of which had residences. One piece of property went for $25.
The county made an estimated $65,000 from the auction, said assistant county manager Noah Simon.
Dempsey Auction Company handled the sales.
Floyd County Tax Commissioner Kevin Payne said last week he suspects the county acquired 90 percent of the properties during the last several years.
Each of the properties is subject to redemption by the original owner.
Craig and Cecil Carter purchased four lots with two houses for $1,700.
“It tied in with my existing property,” Craig Carter said. “As for the houses, I will be remodeling one of them. One is already in good shape.”
Only 90 of the 123 properties sold, according to Simon.
“Properties that did not sell will be re-evaluated to see if they can be sold to adjoining property owners, or transferred to other agencies,” Simon said. “If not, the county will continue to hold them until another auction.”
Buyers had to put down 10 percent Monday with closings slated to take place between Dec. 17-31. Purchasers will have to pay a $300 closing fee and the properties will be transferred via quitclaim deeds.
Buyers will also have to pay a 10-percent buyer’s premium, a $10 recording fee and a percentage of the cost of the legal ads, which will not be more than $40 per closing.
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