bt, the only auction I had direct knowledge of, the requirement was for the pre-approval/qualification, but also a check from the bank to participate. It is very possible that different auction houses have different requirements, but the auctioneer gets their fee from the buyer, so if people bid and back out, they put on the auction for free. There's that dentist office on Union Street that still has the auction sign out front, it is almost a tear since the auction. I was told that it sold. I've heard that people sometimes try to "wait out the market" and then sell some of these places, but if it's in Schenectady County, that's an expensive wait, IMO.
mx....I think you may be correct......different auctioneers.....different requirements.
I can't speak personally ....just what other folks have told me....
When the INSANE are running the ASYLUM In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche
“How fortunate for those in power that people never think.” Adolph Hitler
The high bidder on each property purchased at the auction shall immediately sign a bidder acknowledgment form on the floor at the auction, endorse to TheCounty of Schenectady, NY and deliver to the auctioneer's personnel the required down payment of 10% of the bid price in CASH, CASHIER'S OR CERTIFIED FUNDS ONLY made payable to the Yourself (THIS MEANS YOU) which will be held and deposited by the County of Schenectady, New York and shall be paid as a down payment on the day of the auction and applied to the purchase price, in addition to the bid price, the BIDDER AS PURCHASER shall pay a 10% buyer's premium, (10% add-on to the bid price and a $50.00 Administrative Fee in CASH, CASHIER'S OR CERTIFIED FUNDS, made payable to the BIDDER AS PURCHASER AT "KNOCKDOWN" (TIME OF SALE AT THE AUCTION) (US FUNDS ONLY) which shall be retained by the Auction Company. IN ADDITION, BID PRICES OF $1,000.00 OR LESS MUST BE PAID IN FULL AT TIME OF AUCTION, PLUS THE 10% BUYER'S PREMIUM AND A $50.00 ADMINISTRATIVE FEE IN CASH, CASHIER'S OR CERTIFIED FUNDS made payable to the (Yourself ) AT "KNOCKDOWN." (Time of Sale) (US FUNDS ONLY).
Old Draper school to become Rotterdam lofts By Ned Campbell October 13, 2015 | Updated 10:25 p.m.
ROTTERDAM — The old Draper High School will have a new life as loft apartments, the Schenectady Metroplex Development Authority announced today.
A development team plans to invest $15 million in converting the century-old Rotterdam school building, vacant since 2008, into 107 apartments called Draper Lofts, according to a Metroplex news release. The school at 901 Draper Ave. closed in 1986 but the building, built in 1913, was home to a charter school through 2008.
“This is a very important building that will be preserved through this project, and the end result will be quality housing which will make a very positive impact on the neighborhood,” Metroplex Chairman Ray Gillen said.
The team — Sunrise Management and Consulting of Colonie, Design Logic Architects of Albany and JPM Contractors of Brunswick — manages 1,500 apartments in Upstate New York, including the 192-unit Long Pond Village Apartments on West Campbell Road in Rotterdam. They are working on a similar project in Averill Park converting the former West Sand Lake School into 31 apartments.
“We are excited to take on the challenge of rehabbing this building which totals more than 125,000 square feet,” said Jesse Holland, president of Sunrise Management. “We believe that the Draper Lofts will be a great addition to the neighborhood and we thank Schenectady County, Metroplex and the town of Rotterdam for working with us to rehab this building.”
Construction is planned to start next year and be completed within 24 months. The project was approved by the Rotterdam Planning Commission last week and Metroplex is providing a $50,000 facade grant.
Town Supervisor Harry Buffardi said he’s excited about the project, which he said will bring vibrancy to an area of town in need of a facelift and put the building on the tax rolls for the first time.
“It’s a whole town block,” he said.
The “unsightly” building has been subject to vandalism over the years, he said. The new apartment complex will bring people to town who will shop and patronize local restaurants.
“This is a tremendous development for Rotterdam,” he said.
When the INSANE are running the ASYLUM In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche
“How fortunate for those in power that people never think.” Adolph Hitler
This story is an election year regular. Look at the history of this thread, in September or October the redevelopment of draper school ends up in the news. This has been going on since 2008. The next redevelopment story to come out will be about the Curry Rd/K Mart Plaza, followed by Hamburg Street.
This is a very real proposal by developers with the experience and resources to get it done.
George Amedore & Christian Klueg for NYS Senate 2016 Pete Vroman for State Assembly 2016[/size][/color]
"For this is what America is all about. It is the uncrossed desert and the unclimbed ridge. It is the star that is not reached and the harvest that is sleeping in the unplowed ground." Lyndon Baines Johnson
This is a very real proposal by developers with the experience and resources to get it done.
they were all 'real proposals'!!
it's an election year....period!
When the INSANE are running the ASYLUM In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche
“How fortunate for those in power that people never think.” Adolph Hitler
IF anything positive happens then it IS likely that Mr. Santabarbara will have something to do with it -- as he is a fine young man, AND a very hard worker on behalf of the Veterans and ALL Rotterdamians.
check out the date here? 9/12/2012
When the INSANE are running the ASYLUM In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche
“How fortunate for those in power that people never think.” Adolph Hitler
they were all 'real proposals'!! it's an election year....period!
I disagree with you wholeheartedly. This time there are developers with an actual plan and with the wherewithal ====> experience in projects similar to the one proposed and with the financial backing to get the job done.
George Amedore & Christian Klueg for NYS Senate 2016 Pete Vroman for State Assembly 2016[/size][/color]
"For this is what America is all about. It is the uncrossed desert and the unclimbed ridge. It is the star that is not reached and the harvest that is sleeping in the unplowed ground." Lyndon Baines Johnson
all the past developers had an 'actual' plan too! the politicians were going to make the past developments happen too.
IT'S AN ELECTION YEAR....that's the only time you hear anything about the old draper school or anything else for that matter.
broken promises....after broken promises.....after broken promises....year after year....decade after decade!!!
same sh!t...different election cycle!
When the INSANE are running the ASYLUM In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche
“How fortunate for those in power that people never think.” Adolph Hitler
How about just hoping this is real and feel positive about it and can the negative crap..... oh wait....if it's not negative you'd have nothing to write about. How foolish of me.
JUST BECAUSE SISSY SAYS SO DOESN'T MAKE IT SO...BUT HE THINKS IT DOES!!!!! JUST BECAUSE MC1 SAYS SO DOESN'T MAKE IT SO!!!!!
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