Land Auction Nets Almost $1 Million For St. Louis County
Many people walked away with great deals and the taxpayers of St. Louis County ended up with net proceeds to the budget bottom line at the most-recent Tax Forfeited Land Auction. The most-recent event - held virtually - closed on 29 different properties for a total sale of $903,575. Worth noting is the fact that 15 of those sold properties had competing bids that resulted in sale prices above the original listing price.
Similar to the Tax Forfeited Land Auctions that St. Louis County has held since the COVID-19 Pandemic began, this one was totally online. Publicsurplus.com provided the website engine on which the bidding occured.
According to details released by St. Louis County, this most-recent auction featured a variety of residential and commercial propertes, recreational land, and more. All of the parcel properties that included standing structures sold; this includes two commercial buildings, two houses, two duplexes, and a barn. In addition, wining bidders purchased several water front lots and the sale also included one formerly-blighted property that the county had demolished and cleared for new development in the future.
The online portion probably helped with diversity of bids. The county reported that "[w]hile the majority of people purchasing these properties are from Minnesota, there were also people from five other states who successfully bought land in St. Louis County through this online auction."
While the land auction was a success, there are remaining properties that are unsold. Those properties are now available on a first come-first served basis through the St. Louis County Land and Minerals Department until sold or put back on the online auction. Approximately 140 parcels fall into this category. The list of those properties, along with the results of this current auction can be found on the St. Louis County's website under the "land sales" tab.
The next scheduled Tax Forfeited Land auction for St. Louis County is planned for October of this year.