Details About the Ulster County Tax Foreclosure Auction May 2022
Do you have dreams of purchasing a house or piece of property at auction and then fixing it up? Occasionally, there will be tax foreclosure auctions where you might be able to get a tax foreclosure property at a savings of the full retail prince.
While some counties have canceled their county auctions, usually there is one auction per year, per county, there are a few that are being held this year, 2022.
Here is the information on the Ulster County, NY Tax Foreclosure Auction for 2022:
The auctions this year will be conducted by George Cole Auctions based out of Red Hook, NY. In order to bid on any of the properties, you will have to register with the auction company in advance of the auction. All of the auctions will be taking place via online auction. There will be no in-person bidding. Bidding begins on April 11, 2022, and ends on April 18, 2022, at 5 PM.
How many properties are up for auction in Ulster County, NY?
There are 267 parcels. The parcels are a mix of vacant land, residential, commercial, and other properties. Each one of the properties is listed on the 25-page auction listing available from the auctioneer. Click here for the listing pdf.
If you have never participated in an auction like this, what do you need to know?
The auction company is a reputable one, they have listed everything you need to know, including what is a hammer price, what you will need to pay for the buyers premium, what to do if you win the auction as far as how much you will need to pay at the end of the auction, etc. The buyer's premium is 3%, which is above and beyond what you will need to pay for the item. Here is a link to a calculator to give you a better idea of how much you might actually pay for an item.
What do you need to do to be a part of the online tax foreclosure auction?
Read, read, read. First and foremost, know what you are bidding on. Ask questions, not during the auction, but before. Make sure that you are 100% registered a day or two before the final auction begins. As an added suggestion, don't just take the listing info in its printed word. If you can, do your due diligence and investigate the properties. Know what you are bidding on before you bid. Best of luck.