Albany County Selling 200 Foreclosures

Albany County Selling 200 Foreclosures

ALBANY €“ Albany county
has put nearly 200 foreclosed properties up for sale in an online auction. Interested buyers can visit a new website to
see pictures, tax information and assessments on the properties that are for
sale. Bidders will be pre-screened
before submitting a bid and familiarity with the neighborhood and financial ability
to complete any work necessary on the property will be taken into consideration
when the bids are reviewed.

For too long, there
has been a cycle when it comes to foreclosures in Albany County according to
County Executive Dan McCoy, €œwhat has happened is a lot of people come up from
the New York City area, they’ll buy the property and then they don’t fix it or
they borrow the money to fix it and then it still just sits there and then the
banks end up foreclosing and it€™s another 4-year process to get the house back,€
he tells CBS6. Although a majority of
the properties and homes are in the City of Albany, it€™s county taxpayers who
end up footing the bill. €œWhen the
county is paying the school taxes, the city taxes, the water bill, paying for
snow removal, the lawn to be mowed, there really hasn’t been a rush on the
City’s behalf to really get something going because they’ve got the money
coming in,€ McCoy says. So, that€™s why
he is looking to step-up the sale of some of the properties.

The current sale can
be found here: http://www.albanycounty.com/departments/finance/auction/. It closes on July 31st at which
time the bids will be reviewed by the county.
The winning bids will have to be approved by the county legislature
before the sale is made final.

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