By Chris Frost
EAGLE TIMES
NEWS EDITOR
CLAREMONT, N.H. — Perspective property owners filled the Claremont Savings Bank Community Center Aug. 12 to bid on tax sale properties.
NH Tax Deed and Property Auction conducted the auction. Auctioneer Richard D. Sager went through the process while interjecting humor with the bidders to put everyone at ease.
“You need to be registered to bid, and if you don’t have a bidder number, I will not accept your bid,” Sager said. “The auction will move quickly, and once I say the bidding is over or bang the gavel, the bidding is over.”
He said there is a 10 percent buyers’ premium, meaning a 10 percent fee goes to NH Tax Deed and Property Auctions, plus the buyer is also responsible for the recording fees and transfer taxes.
“That will add one percent to your high bid amount,” he said. “The successful bidder for each property is required to sign a Memorandum of Sale.
Buyers must pay for the property in full within 30-35 days, depending on if it falls over a weekend.
“If you do not pay for the property within 30-35 days, you will either forfeit your deposit or the city will sue you to force the sale,” Sager said.
The second to highest bidder can be the backup bidder without obligation to purchase.
“We will contact you if the primary bidder doesn’t follow up for any reason,” he said.
Successful bidders had to leave a 10 percent deposit on any purchased property.
“Each property is being sold as is, where is, with no faults,” he said. “Being the highest bidder and signing the Memorandum of Sale is a binding agreement you must honor. It’s a contract, and you can’t call us up next week and say I changed my mind.”
He said the sale proceeds go back to the city to resolve any back taxes, interest, penalties and attorney fees.
Property 1 at 263 North St. had a $92,300 tax assessment and was auctioned for $155,000.
Property 2 at 60 Central St. had a $54,900 tax assessment and sold for $70,000.
Properties 1 and 2 do not have a certificate of occupancy, and buyers must renovate the property and acquire a new certificate of occupancy within three years or have the property taken down.
Property 3 at 30 Hanover St. was assessed at $9,200 and sold for $6,500. The properties on North Street, Property 5, and Tremont Street, Property 6, were assessed at $31,700 and $7,900, respectively, and were auctioned off for $55,000 and $10,000.
After the auction, Sager said the turnout was larger than he expected, and they generated a lot of revenue for the city. There were no bulk purchases.
“We never quite know what to expect, every auction is different, but this was a good turnout,” he said. “The successful bidders’ names will be made public within 30 days of the sale. We respect people’s privacy until the deed goes on the record.”
Sager said his father was an auctioneer and did charity auctions.
“I would help him out, running back and forth, and have been a municipal attorney for 39 years doing auctions for towns,” he said. “I retired 18 months ago and started this auction business. I think this is the fourth auction I’ve done for Claremont.”
He said every town has excess properties, some sell the properties through a sealed bid while others do it through an auction.
“An auction is the best way to generate as much money as possible,” he said.
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