Land Bank Sale set for August 25, 2015

On the 25th day of August, 2015 at 10:30 a.m. the Marion Land Bank Program will sell the following parcels of real property:

The sale will take place in the lobby of Marion City Hall.    Pursuant to the adopted Disposition Guidelines those properties shall not sell for less than the fair market value which is defined in said Guidelines as 67% of the Marion County Auditor's true value for the lot value. Second sales will be at a determined fair market value by competitive bid.  No sale will be made to a transferee that has a property which is tax delinquent in Marion County, Ohio or any other Guideline prohibition as is contained within the Residential Land Transfer Policies. (Guidelines 7/21/09)

The Marion Land Bank was created by an act of City Council in 2008 in order to address the non-productive lands and work to putting these nuisance properties back to productive use for the benefit of Marion’s neighborhoods.

The successful offer will be required to execute the Land Bank Offer to Purchase Agreement on the date of the sale and will be required to pay the successful bid amount in the form of an escrow payment on the same date to the City of Marion, Ohio.  The information contained above and related hereto is believed to be true, but is not a warranty of its accuracy.  Participants are urged to complete their own due diligence and are advised neither the City of Marion, Ohio or its agents make any assurance whatsoever and buyer assumes full and absolute risk associated with the transaction.

Any interested party shall place in a sealed envelope the sum they are willing to purchase the aforementioned lot for and deliver said envelope to the Office of the Safety Director located on the 3rd floor of Marion City Hall before noon on the 26th day of August, 2015.  The envelope must be sealed and contain on the outside in clear legible text the property for which the bid is made.  The enclosed writing shall contain the amount of the bid, the submitter’s printed name, address and contact telephone number.  The highest bidder will be required to execute the City’s purchase contract within 5 days of the bid opening.