Sullivan & Sullivan Auctioneers completed the sale of 3 properties sold at a town ordered public auction. The town sold the properties for amounts that nearly tripled total taxes owed bringing in $215,000 and placing the properties back onto the tax rolls. The impressively attended auction took place in the selectman's room of the Northbridge Town Hall. Competition brewed as auctioneer Marianne Sullivan engaged the crowd of active bidders.
The top sale on the auction block was a single family home that had been condemned due to fire damage. Increasing bids were exchanged between abutters of the property. Town officials were elated with the winning bid and the sale far exceeding taxes owed.
A property with a former variety store sparked the attention of businessmen and women alike. The entrepreneurs rivaled for the chance to take a business risk at a low cost.
The third property, a small strip of land containing a storage structure was last but not least. Though the property drew less interest from the crowd, its sale contributed to the day's final total revenue, steering the property back into the possession of tax paying individuals. Sullivan & Sullivan Auctioneers, LLC conducted the auction on behalf of the Town of Northbridge. Sullivan & Sullivan, based in Sandwich, MA has been selling properties at auction in MA, RI, and NH since the company's inception in 2007. Sullivan & Sullivan's sales for 2013 reached $25,548,936.00.
"Municipal Tax Lien Auctions are a rare opportunity for buyers to take advantage of low minimum bidding," said Marianne, president. "This is a win-win scenario with an opportunity for buyers to buy at a bargain, while the town recoups losses and can then place the properties back onto their tax rolls."