Jackson County has accepted a bid on another piece of distressed property.
The Board of Commissioners voted unanimously on Jan. 7 to approve an offer on a plot of land on Sparkling Falls Road in the Whittier community.
The county foreclosed on the land for past due taxes.
Roger and Dawn Helms, who have purchased two other lots in the area, offered the county $7,500 for the 2.6 acre lot. The couple plan to build on the empty lots.
The county currently has about 60 pieces of distressed property available for sale.
A list of available properties can be obtained from the tax collectors officer or from Heather Baker, county attorney.
The county’s goal is to ensure that foreclosed property is sold and get the land back on the tax rolls bringing money into the county’s coffers.
Foreclosed property sales are put through a public bid process, according to county policy. The county sets the minimum bid based upon how much money the county has invested in the property and/or the amount of taxes owed. Bids are submitted as an offer to purchase.
A bid deposit of 5 percent of the total bid is required as earnest money.
Bidders perform a title search ensuring that there are no other liens on the property and no other person has a claim to it.
When an offer is made, the county publishes a notice, and the upset bid period opens. Minimum upset bids are calculated at 10 percent of the first $1,000 of the original bid and 5 percent on every $1,000 thereafter. An upset bid should be made within 10 days of the public notice.
When an upset bid is received the bid process begins again. The process continues until 10 days pass without further bids.
The full amount due must be paid within 90 days. All property is sold as is.