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The Niagara Falls Community Development Department will host the 2018 Niagara Falls Home Ownership Auction at 6: 30 pm on Tuesday, June 19, 2018 in the City Hall Council Chambers. The auction will feature ten homes that the City of Niagara Falls owns due to recent tax foreclosure, serving as an alternative to the standard IN-REM tax foreclosure auction.
Seth Piccirillo, Director of Community Development/Code Enforcement: “The standard tax foreclosure auction process does not provide clear results or encourage owner occupancy. There is a better way. We welcome the public to learn more about this year’s Home Ownership Auction and to build equity through home ownership in Niagara Falls.”
For the first time, Niagara Falls Community Development will be providing renovation cost estimates for each auction house and a reviewable “terms of sale” document, in addition to a code violation report. Interested bidders are invited to the following informational sessions at Niagara Falls City Hall to learn more about the auction process, the specific homes being offered and scheduled open house tours for each of the properties:
Informational Sessions
Monday, May 14, 2018 – 6 pm
City Council Chambers – Niagara Falls City Hall
745 Main Street – Niagara Falls, New York
Tuesday, May 15, 2018 – 1 pm
City Council Chambers – Niagara Falls City Hall
745 Main Street – Niagara Falls, New York
As with the four previous Niagara Falls Community Development Home Ownership Auctions, successful bidders must agree to own and live in the home as prime occupant for no less than five years as well as:
· Submit a $500 bidder bond on auction day that will be repaid upon completion of the renovation and 10% of their successful bid for auctioneer fees.
· Agree to renovate the property to municipal code compliance within 12 months of purchase, unless an extended time period is designated.
· Submit a renovation plan, designating work to be completed by the owner and/or contractors, as well as financial ability to execute the renovation prior to completing the sale agreement with the City of Niagara Falls.
· Pay the appropriate/applicable city, county, water board and school district taxes at time of closing.
· If terms are not met after the purchase of the property, ownership will revert back to the City of Niagara Falls.
Interested bidders can visit https://nf-cd.org/auction/ to download a full information packet, renovation estimates, code violation reports and to learn more about the process. Interested bidders can also email Paul Martell, Home Ownership Specialist, at paul.martell@niagarafallsny.
2018 Niagara Falls Home Ownership Auction – Dates You Need to Know
Auction Date
Tuesday, June 19, 2018
Registration: 5 pm Auction: 6:30 pm
City Council Chambers – Niagara Falls City Hall
745 Main Street – Niagara Falls, New York
Open House Tours
Wednesday, June 6, 2018 – 1-3 pm
Community Development staff will be at each Home Ownership Auction property
Thursday, June 7, 2018– 1-3 pm
Community Development staff will be at each Home Ownership Auction property
Informational Sessions
Monday, May 14, 2018 – 6 pm
City Council Chambers – Niagara Falls City Hall
745 Main Street – Niagara Falls, New York
Tuesday, May 15, 2018 – 1 pm
City Council Chambers – Niagara Falls City Hall
