Cuyahoga County Forfeited Land Sale Raises $2 Million
Cuyahoga County brought in more than $2 million in last week’s auction of foreclosed properties.
Up for bid at the forfeited property sale were houses, buildings and vacant land that the county took through foreclosure for unpaid property taxes. All parcels on the list failed to find buyers at two previous sheriff’s sales.
Bids for houses could go as low as $500.
Buyers scooped up 399 properties, paying a total $2.18 million for them, according to a preliminary count. Michelle Spaqi, an organizer of the auction, said it was the largest forfeited land sale.
That money helps the county recoup tax debts and foreclosure costs. More than 600 properties were on the list to be sold, representing more than $12 million in unpaid taxes.
One first-time prospective buyer, Thomasina Triplett, said the modest bids attracted her.
“The lower prices, being able to get it—because the market right now is so competitive,” Triplett said. “It’s a different way to get property and get it quickly.”