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Jaffrey will retain $10,000 buyer deposit after bidder withdraws from 118 Mountain Road sale
Summary
After the highest bidder for 118 Mountain Road withdrew citing a perceived notification flaw, the Select Board voted unanimously to retain the $10,000 non‑refundable deposit on grounds the auctioneer reported no title warranties and town due diligence was completed.
The Town of Jaffrey Select Board voted April 22 to retain the $10,000 non‑refundable deposit from the highest bidder for 118 Mountain Road after the buyer backed out of the sale, citing an alleged problem with the notification. The board’s action followed staff review and the auctioneer’s statement that there were no warranties on the title. The motion to retain the deposit was made by Selectman Andrew Lawn, seconded by Selectman Franklin W. Sterling Jr., and approved 3-0.
Town staff told the board the property owners were deceased with no heirs and that the town had completed due diligence before the auction. Closing on the property had been scheduled for 11 a.m. on April 23; the minutes state the deed was executed with covenants. The buyer withdrew after the auction, the minutes say, because the buyer believed the statutory or procedural notification was flawed; the auctioneer advised that, per the executed agreement and auction terms, the deposit was non‑refundable.
The minutes do not record any appeal or subsequent legal action related to the deposit nor do they list the buyer’s name. The board’s vote was unanimous to retain the full deposit and did not specify any further remedial steps in the minutes.
