Tranzon Auction Properties - Real Estate Auction Blog

Land - Zoned Multi-Use - High Visibility - Route One, Kittery, ME

Located in a underdeveloped section of Route 1, just north of the Kittery Outlets, this 28+/- Acre parce was sold “Subject To” a first mortgage interest of about $300,000+/-. Meaning, the buyer was responsible for paying off the first mortgage of $300,000 and in essence purchased this property for $480,000.

Residential Lot - Wells, Maine

Retail Property - Bridgton, Maine

Single Family Home - Bangor, Maine

Tranzon Auction Properties continues providing solutions in an unstable real estate market.

Single Family Home - Casco, Maine 1,764± sf 4 Bedrooms, 1¾ Baths Home

Wednesday, February 28^th, 2007

Tranzon Auction Properties sold over $1.5 million in real estate at a multi-property auction held in Wells, Maine. Properties sold included residential lots in Scarborough, Cape Neddick and Wells, 28 acres in Kittery off Route 1 and an office building situated on Route 1 in York.

Hired by Flash Island, a Maine private lender, to conduct the foreclosure sale, Tranzon’s accelerated marketing campaign began in February and received tremendous response with over 200 inquiries from prospective buyers across the country. Nearly two-dozen people registered for the auction, bringing certified funds between $10,000 and $50,000 as a qualification to bid. In less than half an hour, Tranzon put over $1.5 million of real estate under contract and collected $90,000 in hard-money deposits. Each of these properties will close in 45 days. After the sale, Tom Saturley, President of Tranzon Auction Properties said, “The participation in today’s auction clearly demonstrates the overall strength of Maine real estate.”

Tranzon Auction Properties, with offices in Portland & Greater Boston, provides real estate solutions, including Asset Disposition Services, Analysis, Accelerated Marketing and Auction Services. Tranzon Auction Properties is a member company of Tranzon, LLC comprised of over 22 offices nationwide. The member companies of Tranzon have completed transactions in excess of $700 million over the past 6 years.

Old Stone Barn - Peterborough, NH

63 Old Street Road, Peterborough NH - 38+/- acres with Beautiful Antique Barn.

Sale price = $1,200,000

While not your typical Real Estate Auction, the Tranzon Auction Properties Team has completed another successful transaction for our clients.

This property was purchased by our Lender Client at the Foreclosure Auction in February of 2006 due to a variety of reason too intricate to discuss in this forum.

Because we had become so intimately involved in this property through the Auction Process, our client hired us to continue marketing what had now become their REO Property. Through those efforts we were able to put the property under contract and forming a partnership with local developers usher this property through the town approvals process. This property will soon be converted into ten architecturally designed condominium units to be known as Highland Farms of Peterborough. If you should be interested in learning more about purchasing what can only be described as one of the most unique and historically significant condominiums in Southern New Hampshire, please contact Peterson’s Real Estate at 603-924-3321.

Another successful Real Estate Auction for the Tranzon Auction Properties Team.

Commercial Property - Columbia, ME

Another great sale for the Tranzon Auction Properties Team. Fantastic results for our client. Property closed in under 30 days. Very clean, very smooth. Congratulations to all.

Another successful auction! We thought this might be a good opportunity to highlight how Tranzon services the needs of clients who own and/or manage a nationwide real estate portfolio. Tranzon Auction Properties was employed by Keybank NA to implement a professional accelerated marketing campaign in order to supplement the minimal legal advertising that is usual and customary for foreclosure sales in OH.

Working with our partner, Tranzon Asset Strategies, we produced a high bid offer of $96,000. I know this isn’t the most astounding dollar figure you’ve ever seen, but understand that real estate in that part of the country is significantly less expensive than either coast. Add to this that foreclosure sales in OH are usually a fairly anticlimactic event culminating in the lender/mortgagee purchasing the property for the outstanding debt and bringing it into REO to maintain and manage for some indefinite amount of time before it can be sold through conventional means.

We have offered this supplemental service to our clients for many years and have developed a proprietary process that incorporates all parties involved in the foreclosure process including attorneys, sherriff’s, magistrates, etc…The benefit for a lender/mortgagee is that by supplementing the minimal legal advertising with a professional accelerated marketing campaign and producing and providing a comprehensive due diligence package to buyers, the lender can be assured that on the day of sale the property has been exposed to any and all interested parties and the high bidder is offering a fair market cash offer for that property.

SEARSPORT (Jan 4): “We went out for a little excitement, and we came back with a restaurant.”

That’s how winning bidder and Lincolnville resident Tom Sadowski described the way he and his wife, Janis Kay, became the new owners of the Route 1 building that most recently housed the Chocolate Grille.Kay and Sadowski placed the high bid of $260,000 during a fast-paced auction at the site Thursday, Jan. 4. “Our plans will solidify very soon,” said Sadowski following the auction. “Right now, we’re still talking.”

Sadowski and Kay said they are interested in leasing the space to someone who would like to run a restaurant. “We’d like to see a good restaurant over there in Searsport,” said Sadowski. “One that’s reasonably priced; that’s fun to go to.”

But Sadowski added that “nothing will be happening there for a little bit.”

Sadowski and Kay own and operate Surroundings, a home-furnishing store in Camden. Kay also owned a restaurant in Seattle before making her home in Lincolnville.

The auction, which Tranzon Auction Properties Auctioneer Thomas W. Saturley said came about as the result of a foreclosure through Camden National Bank, attracted approximately 30 potential bidders, town officials and residents.

The space was formerly home to the Chocolate Grille, a restaurant and bar owned by George and Julene Gervais. The couple closed the Searsport business in spring 2006.

The 0.9-acre property with 170 feet of Route 1 frontage and a 4,459-square-foot building was also once the site of Jordan’s Restaurant. The land and building is valued at $313,000, according to the informational packet distributed by Tranzon.

Tranzon sales director Jill Daviero said Camden National Bank hired the company to organize and promote the auction. Those bidding were required to present Tranzon with a $25,000 deposit, with the winning bidder upping the deposit to 10 percent of the purchase price within five days of the auction. The balance of the bid is due within 45 days of the auction.

By Tanya Mitchell
Staff Reporter Villagesoup.com