The City of Lockport has announced that 11 South Street will first go to auction only to individuals willing to commit to living in the property for three years at this year’s in rem foreclosure auction. The Homeownership Auction is an effort to prioritize homeownership in the City of Lockport.
Individuals willing to commit to living in the property for three years that wish to bid on the house must register with the Community Development Department at (716) 439-6688 by 12 pm on Friday, November 3rd. In order to register, potential bidders must visit the property during viewing times, state they understand the work that must be completed in order to receive a certificate of occupancy, and sign a document stating they understand that they are committing to live in the property for three years. The purchaser must be an individual and cannot be an LLC or other incorporated entity. Interested parties can tour the property from 8:30 am to 8:55 am on November 2nd.
11 South Street will be the first property up for auction at 9:30 am on Saturday, November 4th, at the in rem foreclosure auction located at the Historic Palace Theatre at 2 East Avenue. If there are no registrars or if no one bids on the property, it will then be auctioned off like any other property.