Real Property Tax

Foreclosure Auction

Auction To Be Held @ City Of Cortland, City Hall Court Room, 25 Court Street, Cortland, NY 13045

Wednesday, July 12, 2017 @ 6:00PM

TERMS & CONDITIONS OF AUCTION

We welcome you to the City of Cortland Real Property Tax Foreclosure Auction.  This auction presents to you a great opportunity to purchase properties of all types, being sold at one location. The descriptions and information in this catalog is what has been provided to us.  Use this catalog as a guide only.  We make no Warranties or Guarantees to the information provided, as you are encouraged to do your own due diligence in researching the properties.  Please read fully the Terms & Conditions of Sale in this catalog.  Announcements made day of Auction take precedence over printed material. Thank You all for attending and we wish you all good luck in your bidding!  A great opportunity!!   Real Estate is the Best Investment!!

Auction To Be Held @ City Of Cortland, City Hall Court Room,

25 Court Street, Cortland, NY 13045.

General

1.        All properties offered at this auction have been foreclosed due to Real Property Tax Law.  All properties are sold “AS IS-WHERE IS-HOW IS”.  Bidder shall be solely responsible for determining all conditions of the property prior to bidding.  The City makes no representation as to the quality of title, lot size, shape or location, or conditions or existence of any or all improvements on any parcel or to the condition of the property(ies), this also applies to the concern of environmental problems.  The City make no promises or statements of fact about any parcel that is being offered for sale.  No employee or agent of the City has any authority to make any promises or representations of any nature concerning any of these parcels.  It is the responsibility of each bidder to investigate any and all aspects of the status of each parcel that he or she may desire to purchase PRIOR TO BIDDING ON THE PARCEL.

2.        You are strongly encouraged to go to the property(ies) you are interested in and examine them in person from the sidewalk or street.  You are, however, prohibited from trespassing on the property(ies) or entering the building(s), if applicable.  This restriction also applies to the highest bidder on the property until the Quit Claim Deed transferring ownership from the City to the new owner is recorded in the County Clerk’s Office. 

3.        Properties will be conveyed to the highest qualified bidder.  The City of Cortland reserves the right to reject any and all bids of any kind.  Neither the delinquent taxpayer nor anyone acting on their behalf shall be entitled to bid or purchase the property.  The individuals who have previously defaulted on a bid, or who are currently delinquent on any other parcel in the City shall not be permitted to bid on any properties offered at this auction.

4.        The Former Owner of the property, or his agent(s) shall not be deemed the successful bidder on a City property or purchase their former property at the public auction,

5.        The City of Cortland reserves the right to withdraw from sale any properties which are listed and or at their option, to group one or more parcels together into one sale.  All items may be sold in random order. 

6.        Auction & Tax information is available at the City of Cortland Department of Administration & Finance, 25 Court Street, Cortland, NY.  Tax maps are available for viewing at the Cortland County Real Property Tax Office at 60 Central Avenue, Cortland, NY.  Tax maps are only representations and may depict a proposed development or road.  The City does not guarantee that a development and/or road actually exists, nor does it guarantee the eventual development of such.  Tax maps do not represent exact dimensions and are not intended to be used in place of a survey map.  Tax maps may not accurately depict the exact location of a property.  Bidders are also encouraged to obtain the zoning regulations from the municipality where the property is located.  Town zoning and building code information can be obtained at the town, city or village where the property is located.  It is the responsibility of the bidder to research any existing violations or restrictions on the property.  Any promotional tools such as photographs, tax maps, signs, written or verbal descriptions, etc. are for informational purposes and guide only.  

7.        All deeds issued shall be by Quit Claim Deed only.  The City will not furnish an abstract of title or title insurance. 

8.        The Auctioneer and the Seller shall remain forever immune from any and all liability concerning any personal injury, environmental hazards or property damage occurring before, during or after the auction, no matter what the cause.  Additionally, the Auctioneer and Seller shall remain forever immune from the consequences of purchase of any and all properties at this auction. 

9.        All decisions regarding bidding disputes shall remain completely within the Auctioneer’s discretion.  The Auctioneer retains the right to reject any bid that is not within current bidding increments or that is not an appropriate advancement over the preceding bid. 

Financial

1.  All prospective bidders must register the day of the auction in person.  Registration will begin at 5:00 PM the day of the Auction. Individuals must show a valid drivers license for issuance of a buyer number.  Each purchaser will be required to sign a legally binding Property Bid Acknowledgement Form for each purchase which commits the purchaser to compliance with all Terms and Conditions as stated herein.  No mailed or faxes bids will be accepted.
2. All bid deposits must be made with cash or good check, immediately following the auction, and a receipt will be issued.  Persons are required to have multiple checks for payment purposes, If paying by personal check, please keep this in mind.  We recommend potential buyers, paying by check, to bring with them a ½ dozen checks, for each property, in order to pay all moneys due day of Auction, in separate checks.  

Bid Deposit Requirement

A.        If the successful bid is under $1,000.00 the FULL AMOUNT of the bid must be paid by the end of the auction to the City of Cortland, depending on the property purchased. 

B.         If the successful bid is over $1000.00, a deposit of 10% of the bid price or $1,000.00, whichever is greater is due at the end of the auction.

C.         It is the successful bidder’s responsibility to pay an administrative fee of $275 (per parcel), due at the end of the Auction.

D.        It is the successful bidder’s responsibility to pay the auctioneer 7 ½ % above the bid price on the day of the Auction.

Multiple Checks Will Be Needed To Pay For Each Property. 

E.          

1.      In addition to the bid deposit, administrative fee & auctioneers fee, the successful bidder will be responsible for a recording fee for the deed(s), transfer tax(es) connected with the property(ies) and a County Clerk Fee (per parcel). The Purchaser will be responsible for one half of the 2017 City/County Tax Bill; and these taxes will be due at closing.  Amounts will be available prior to the auction.  The Purchaser will also be responsible for all of the 2016-2017 School Tax Bill, which will be available on or about August 1, 2017.   In the Event the School Tax Bill is not available on the day of the Auction, it is the responsibility of the Successful Bidder to contact Cortland City Schools for a copy of the 2017/18 School Tax Bill. Successful Bidders will be responsible for all future taxes following closing. The administrative fee will be collected at the end of the auction (on City Properties) with bid deposit & auctioneers fee. The Taxes stated above, recording fee for deed(s), transfer tax(es) and County Clerk Fee will be collected at the time balance is paid to the City Treasurer.

F.          DEPOSITS AND PAYMENTS must be cash or good personal checks.  Checks are to be made payable to City of Cortland, as well as a check made payable to Mel Manasse & Son, Auctioneers regarding the auctioneer fee (For All Properties). Administrative fee Is Due The Day Of Auction.

G.        Full payment of bid is required within thirty (30) days following the auction.  At this time, you must present to the City the receipt received day of auction and the balance must be satisfied in cash or certified funds, and made payable to City of Cortland.  If the successful bidder fails to pay the balance of such purchase price within the required thirty (30) day period, the bid deposit, auctioneers fee, administrative fee and any additional fee(s) may be forfeited and retained by the City of Cortland as well as the auctioneer, at the option of the City Treasurer.

H.        Evictions, if necessary, are solely the responsibility of the successful bidder after closing and recording of the deed. 

I.           The purchaser may not assign his / her right to complete the sale.  ALL DEEDS SHALL BE EXECUTED SOLELY IN THE NAME OF THE BIDDER AND THEIR SPOUSE, IF DESIRED.

J.           No personal property is included in the sale of any of the parcels owned by the City of Cortland. The disposition of any personal property on any parcel sold shall be the sole responsibility of the successful bidder following closing.

K.        Default by purchaser or failure to meet these rules, terms and conditions will result in forfeiture of the required deposits and may result in rejection of any future offers of City owned property.

Deed Description

The City of Cortland will issue a Quit Claim Deed consisting of the popular description listed in the auction notice.  This information has been obtained from the Real Property Tax Service office inventory file, and is for ease of identifying only.  The Deed will be issued within 30 days after the auction. 

* All successful Bidders will be responsible for one half of the 2017 City/County Tax Bill; and these taxes will be due at closing.  Amounts will be available prior to the auction.  The Purchaser will also be responsible for all of the 2016-2017 School Tax Bill, which will be available on or about August 1, 2017.   In the Event the School Tax Bill is not available on the day of the Auction, it is the responsibility of the Successful Bidder to contact Cortland City Schools for a copy of the 2017/18 School Tax Bill. Successful Bidders will be responsible for all future taxes following closing.

Possession

The purchaser may not take possession of the premises until the deed has been recorded.  Possession of the parcel(s) may be subject to the occupancy of previous owner(s) and / or tenant(s).  It shall be the responsibility of the purchaser to obtain possession and/or evictions of former occupants.  The City of Cortland is not responsible at any time for obtaining access to the buildings located on the premises. 

Deed Restrictions

The City of Cortland reserves the right to require that each deed issued will contain a restriction in reference to the prior owner.  This restriction that requires an additional payment equal to the accumulated taxes, penalties, and interest due as of the tax foreclosure.  It will apply only if the property is sold to the former owner or his/her spouse or children during the seven years following the purchase.

Common Questions & Answers:

How much are the back taxes owed on the property(ies)?

- The City of Cortland are selling these properties foreclosed for the purpose of unpaid taxes to place the parcels back on the tax rolls, after being sold to responsible purchaser(s).  Therefore, no back taxes are owed in purchasing the properties.  The only taxes due on the properties are as follows: The Purchaser will be responsible for one half of the 2017 City/County Tax Bill; and these taxes will be due at closing.  Amounts will be available prior to the auction.  The Purchaser will also be responsible for all of the 2016-2017 School Tax Bill, which will be available on or about August 1, 2017.   In the Event the School Tax Bill is not available on the day of the Auction, it is the responsibility of the Successful Bidder to contact Cortland City Schools for a copy of the 2017/18 School Tax Bill. Successful Bidders will be responsible for all future taxes following closing.

How can I see the inside of the property(ies) if there is a building on it?

- The City of Cortland have certain properties which have a scheduled showing date & time.  All other properties, if not listed on the showings list, will NOT have a showing on the property and you are to view from the road, at your own risk.  You are, however, prohibited from trespassing on any of the property(ies) or entering the building(s), except during schedule showing date & time.

What is the starting bid on the properties?

- The starting bid on the properties is determined by the public.  The assessment does not determine the starting bid and is provided for tax purposes only.  Bidders or Purchasers with questions regarding assessed values or assessment practices are advised to contact the Assessors Office.

Can I register prior to the Auction?

- No, registration will begin at 5:00PM the Night of the Auction.  You will not be allowed to register for the Auction if you owe any City taxes.

How do I know I am getting a good title to the property?

- You are encouraged to research the property in depth and do your own due diligence.  The City will issue you a Quit Claim Deed. 

Do I have to be there to bid on the property?

- Yes, you must be present the day of the Auction to bid/purchase the property(ies).  All deposits are due the day of the auction, as stated above, and you will be required to sign a Bid Acknowledgement Form for each purchase.

Showing Date & Times

Monday Evening, July 10, 2017

5:00PM – 6:00PM              41 South Ave.

4 Winter St.

6:15PM – 7:15PM              176 Main St.

20-22 Willow Ave.

All Properties Sold “AS IS” –

Properties Must Be Researched PRIOR To Bidding

Brochure Is To Be Used Only As A Guide, And Is Subject To Change

Statements Made Day of Sale Take Precedence Over Printed Material.

PLEASE NOTE:

Brochure Is Continually Being Updated,

Please Keep Track Of Our Website For Updated Information www.manasseauctions.com

City of Cortland

Sales Managers & Auctioneers
Licensed Real Estate Brokers In NY, NJ & PA
Whitney Point, NY
607-692-4540 / 1-800-MANASSE
 In Our 52^nd Year in Business Conducting all Types of Auctions!!