Waterford board to re-auction foreclosed 207 Boston Post Road without minimum bid

The Board of Selectmen voted on Feb. 10 to re-auction a town-owned, foreclosed property at 207 Boston Post Road (also listed as 1 Tiffany Avenue) without a minimum bid and to forward a recommendation on method of disposition to the Representative Town Meeting (RTM) for final approval.

Town attorney Nick summarized the foreclosure history: the committee of sale previously attempted an auction that produced no bids, resulting in the town taking possession. A subsequent auction with a posted $80,000 minimum drew no acceptable bids; Nick said a prospective buyer had expressed interest in the mid-$60,000s but could not be accepted because the auction had been advertised with the $80,000 minimum. "We're going to re-auction it without a minimum bid and hope that the market will speak," Nick told the board.

Board members discussed the property’s physical limitations and safety concerns; one selectman described the house as “very unsafe” and an attractive nuisance if left vacant. The attorney said combined taxes, sewer and fees owed are in the mid-$80,000 range (including advertising and related costs) and that after a sale staff will return to the RTM to complete disposition approvals and finalize sale paperwork.

Selectmen agreed that re-advertising and a live Saturday auction run by staff and a contracted auctioneer provided the best path to recover taxes and remove an unsafe vacant structure from the town’s inventory. The motion to re-auction without a minimum bid passed by voice vote; RTM approval will be sought should bids result in a sale.