April 23, 2013
LIMA — Some economist say the housing market is bouncing back, with home sales expected to improve.
In Allen County, the best prices on a home may come next week: You can buy a home for $1.
On May 1 at 11:30 a.m. on the steps of the second floor of the Allen County Courthouse, the Auditor’s Office will auction off 26 parcels, including eight houses, said Kathy Henry, a deputy auditor.
The properties failed to sell for two-thirds of the appraised value at two earlier auctions. That sets the stage for a winner-take-all bid that will start out at the price of back taxes, assessments, penalties, interest and advertising cost. If the value of the property is less than that, Henry said, it will start there.
If no one bids, the excitement begins.
Bids could start as low as $1, but that will be up to a sheriff’s sergeant serving as the auctioneer.
“If no one bids, he will turn around and do the best attainable bid,” Henry said.
The best part: The new owners will have the properties free and clear of all taxes and other costs.
“The law states we deliver a deed free and clear of all liens and encumbrances,” Henry said.
Most parcels are in Lima, she said, but a couple are in Perry Township, one in Bath Township and one in Jackson Township.
Bidders cannot see the inside of the homes prior to sales but may walk around the properties. A check of some of the homes indicated some repairs were needed, but they could be a handyman’s dream.
The winning bidder must have $300 cash to slap down immediately after winning the property. The balance must be paid within 30 days with a cashier’s check or money order, Henry said. The owner will receive keys to the home within 30 days, she said.
The parcels with homes are: 104 E. 16th St., 421 Haller St., 423 S. Woodlawn Ave., 558 Cortlandt Ave., 604 Edsel Ave., 718 S. Metcalf St., 833 N. Main St. and 1009 E. Eureka St.