Barnstable issued a request for proposal to sell 23 tax-foreclosed properties throughout its seven villages, some with minimum bids as low as $500. Interactive map shows the locations.
HYANNIS — Cape Cod real estate bargains are rare, but there could be some good deals in Barnstable next month.
The town has issued a request for proposal to sell 23 tax-foreclosed properties throughout its seven villages, some with minimum bids as low as $500.
“We’re the first town on the Cape to do this, and it’s exciting,” said Barnstable Town Council Vice President James Crocker, who also serves on the town’s Asset Management Advisory Committee. “We’re committed to getting these properties back on the tax rolls.”
The town of Barnstable is in possession of 140 tax foreclosed properties, many with complicated title issues. The initial 23 being offered for sale have been researched and cleared for sale, according to David Anthony, the town’s director of property and risk management.
The properties range in size from 0.02 to 6.4-acres and are collectively assessed at more than $1.2 million.
“We took a look at our assets,” said Barnstable Assistant Town Manager Andrew Clyburn. “If they were underperforming, they were evaluated. Since some of the properties had no active purpose, the decision was made to dispose of them.”
The land identified for disposition by the town is listed as individual parcels for bidding purposes, with the exception of two “bundles” of properties in Cotuit.
The town makes no guarantee that any of the parcels are buildable, but even if they are not, the land would likely be valuable to abutters seeking to expand their properties.
“People need to do their own due diligence,” said Anthony, who noted more than 100 letters notifying abutters of the property sale would be in the mail this week.
Crocker hesitated to estimate how much revenue the town could generate from the land sale.
Data: Town of Barntable | Map: Gregory Bryant / Cape Cod Times | Enlarge map to view more
“It’s not supposed to be a big sales windfall,” he said. “Our big concern is getting them back on the tax rolls.”
In addition to placing the parcels back on the tax rolls, the sales would return liability for the properties back to the private sector, according to Anthony.
Sealed bids for the properties are due by 2 p.m. March 28, and awards will be made within 90 days. Request for proposal documents and other forms necessary to make bids are available on the town’s website.
Each bid must be accompanied by a deposit of $500, and a purchase and sale agreement must be executed by the winning bidder within a time specified by the town.
The town will likely have more land sales in the future, once additional legal investigation on other tax-foreclosed properties has been conducted to ensure they have “clean” titles that can be conveyed to new owners.
“This is the tip of the iceberg,” said Clyburn.
— Follow Geoff Spillane on Twitter: @GSpillaneCCT.