BOROUGH LAND SALES

2/1/2022: THERE IS CURRENTLY NO PROPERTIES AVAILABLE FOR SALE

Over-the-Counter Sales.

1. Lands Available. Over-the-counter sales may include parcels that have been offered at least once by lottery, sealed bid, or auction and have not been sold, or parcels that have been returned to the borough through contract or deed of trust foreclosure.

2. Purchase Price. The minimum bid price as stated in the brochure for parcels offered but not sold shall be the purchase price.

3. Deposits. An over-the-counter sale must be accompanied by a good faith deposit of five percent of the purchase price. If the buyer fails to execute a necessary note and deed of trust, the borough shall retain the five percent deposit as liquidated damages, and all rights of the buyer in the property arising out of the sale are terminated. Unless specifically provided otherwise by the land manager in writing, the buyer shall have no right of possession to the property until all necessary notes, security, and other instruments necessary to close the sale have been executed and the sale closed.

4. Order of Accepting Sales. During regular borough office hours (8:00 a.m. to 5:00 p.m.), persons will be served in the order in which they arrive at the borough office. No appointment can be made ahead of time. If more than one person is present when the borough office opens at 8:00 a.m., numbers shall be drawn by those persons to determine the order in which they will be served.

5. Payment of Balance. The balance shall be paid in 10 equal annual payments of principal and interest with an interest rate on the unpaid balance of 10 percent. The land manager may authorize payments in annual, quarterly, or monthly installments and may establish a service fee for such installment payments. There shall be no prepayment penalty.