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FRAMINGHAM, MA – Due to economic conditions, more owners of residential real estate than usual are facing foreclosure.
While some properties sold at Public Auction can be purchased below market value, buyers should be aware that many times such properties have been neglected, and in some cases have been damaged or had items such as plumbing fixtures, copper heating pipes and other items removed.
In general, property purchased at foreclosure auctions should be examined even more closely than property sold on the normal residential real estate market.
In addition to structural or cosmetic problems, foreclosed properties sometimes have municipal liens, back taxes and other encumbrances that can add significant costs over and above the gavel price.
The ancient Latin saying “Caveat emptor”, (let the buyer beware), may hold true for real estate purchased at foreclosure moreso than any other types of real estate transaction.
Potential buyers are strongly encouraged to perform all necessary due diligence before bidding.
With that said, legal notices indicate the following residential properties will be sold at public auction in the upcoming weeks:
| Date | Time | Address* | Deposit** | Assess. Val. |
|---|---|---|---|---|
| September 16, 2011 | 10:00 AM | 31 Aberdeen Rd. | $10,000 | $244,900 |
| September 16, 2011 | 3:00 PM | 15-17 East St. | $10,000 | $219,100 |
| September 22, 2011 | 4:00 PM | 24 Brownlea Rd. | $10,000 | $415,600 |
| September 27, 2011 | 12:00 PM | 5-7 Saucier St. | $5,000 | $243,300 |
| September 27, 2011 | 1:00 PM | 154 Second St, U:109A | $5,000 | $40,200 |
| September 28, 2011 | 11:00 AM | 695 Old Connecticut Path | $10,000 | $279,100 |
| September 29, 2011 | 10:00 AM | 12 Foss Rd. | $5,000 | $246,300 |
| September 29, 2011 | 2:00 PM | 11 Campello Rd. | $5,000 | $236,900 |
| October 6, 2011 | 9:00 AM | 437 Water St. | $10,000 | $664,700 |
| October 6, 2011 | 1:00 PM | 135 Winthrop St., U:3B | $5,000 | $40,300 |
| October 6, 2011 | 2:00 PM | 81-L Nicholas Rd. | $5,000 | $93,400 |
*click address to download copy of Framingham Assessor’s Property Card, (Adobe .PDF format)
**deposit is usually required in cash or certified bank check, with the balance of selling price due in a very short amount of time. You can check terms and details in NOTICE OF MORTGAGEE’S SALE OF REAL ESTATE for each property at: ma.mypublicnotices.com
(All information listed is based on public records available at time this article was published. Perspective buyers and other interested parties should contact seller / agent to determine actual dates, times, values, terms and other pertinent information).
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