Weymouth Tax Asset and Real Estate Auction October 21 conducted by Strategic Auction Alliance

CONTACT: Jim Farrell, PR First, 781-681-6616, jfarrell@prfirst.com

Town of Weymouth will hold Tax Asset and Real Estate Auction October 21; Strategic Auction Alliance to market properties and conduct auction

WEYMOUTH, MA, ISSUED OCTOBER 6, 2014…The Town of Weymouth will hold a Tax Asset and Real Estate Auction Tuesday, October 21, beginning at 1 p.m. at the McCulloch Building, 182 Green Street, Weymouth.

This auction will feature approximately 50 tax title assignments secured by residential homes, commercial property and vacant land; 12 tax possession properties, and 10 “Land of Low Value” instrument of taking parcels, all offered at auction. Interested individuals can bid in person at the auction location or via Internet, or absentee bid.

Strategic Auction Alliance principals Tom Weitbrecht and Stephen Paulin will conduct the auction. Weitbrecht terms the auction an innovative one, noting that Weymouth is one of the very few municipalities which conducts this type of auction. He added, “This format of auction is beneficial for the municipality and also for the investor,” and cautioned that this particular -auction offers different types of assets.

The assignment of Tax Title assets is not the actual purchase of the real estate, but instead the sale of the municipality’s receivable amount, which the purchaser can then petition to collect, at an interest rate of 16%. “Land of Low Value” is real estate that has been taken by the municipality for back taxes owed. Successful bidders are actually purchasing an “instrument of taking” and then must petition the Land Court to acquire title. The “Sale of Municipal Tax Possession Property” is the purchase of the actual real estate.

Individuals interested in a bidder package can download by visiting http://strategicauctionalliance.com/bidder-package-download-weymouth-municipal-tax-asset-auction-2014/.

In preparation for the auction, Strategic Auction Alliance will also offer a free seminar Tuesday, Oct. 14, at 6:30 p.m. at the McCulloch Building, 182 Green Street, North Weymouth. Attendees will learn about the Massachusetts legal fundamentals concerning the acquisition of tax assets, land court foreclosure procedures and more. The seminar will help prospective bidders learn how to recognize investment opportunities and the options available either by bidding online or in person at an auction. Additionally, the seminar will help attendees learn how Municipal Liens, Tax Titles, Tax Possessions and Land of Low Value takings differ, and how these assets offer investment opportunities.

For more information, please call 877-426-8175 e-mail: info@sabids.com. Strategic Auction Alliance offices are located at 22 River Street Suite 13 Braintree, MA 02184

Tom Weitbrecht said, “At the auction, interested parties will have the opportunity to purchase real estate and tax titles at auction.” He continued, “Municipal Tax titles are widely recognized as solid investments. Tax title buyers will acquire the town’s position as first position debt holders and are entitled to collect interest at a rate of 16% from property owners who redeem their properties. Tax title buyers may elect to initiate tax foreclosure proceedings to gain ownership of the property or to compel property owners who wish to retain ownership of their property to pay the outstanding balance due. We strongly suggest interested parties conduct research as they deem appropriate to completely understand the process and the specific details of each individual property or tax title”.

For complete details, deposit requirements and terms of the sale, please visit www.strategicauctionalliance.com or call 877-426-8175.