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Township auctions two small parcels; buyers to submit 10% deposits
Summary
At its Oct. 6 meeting Green Township sold two tax-foreclosed parcels — Block 107, Lot 6 (5 Crescent Road) and Block 76, Lot 5 (161 Decker Pond Road) — each to the lone bidder at the advertised minimum price; a 10% deposit is due and a confirming resolution will be prepared at the next meeting.
Green Township offered two parcels at public auction during its Oct. 6 regular meeting and accepted the only bids on both lots at the advertised minimum prices.
Township Attorney Ursula Leo opened the first auction for Block 107, Lot 6 (a .298-acre portion of property at 5 Crescent Road) with a minimum sale price of $15,000. A single bidder, Nicole Rizzolo, submitted the $15,000 bid and no other bids were offered. The Township Attorney then opened the second auction for Block 76, Lot 5 (a .876-acre portion of 161 Decker Pond Road) with minimum sale price $20,000. A single bidder, Brett Estell, bid $20,000 and no further bids were made.
The Township Attorney told the meeting that a 10 percent deposit is due immediately from each successful bidder and that a resolution confirming the sales will be prepared for the next Township Committee meeting. The Attorney also reiterated the stated terms: properties are sold "as is" and parcels must be merged to the adjacent property per the ordinance governing the sale.
Next steps: The Township Clerk will prepare the necessary confirming resolution for the next meeting; purchasers must provide the 10% deposit per auction terms before the sale is finalized.
