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Legislators discuss solutions to auction error

What started out as a routine resolution approving all bids from a recent foreclosure auction turned complicated Tuesday for the Montgomery County Legislature as members tried to figure out how to deal with an auctioneer’s mistake.

Officials from Buanno Holdings LLC in Fultonville were the successful bidders for one parcel of land in the town of Glen. They also thought they had purchased two adjacent, smaller parcels when the original successful bidder failed to produce the required down payment.

The three parcels were intended to be sold together, but the auctioneer sold them individually, according to District 4 Legislator Ryan B. Weitz.

“Three parcels that [were intended to be sold] as one group ended up being sold separately,” Weitz said.

Weitz proposed removing the original parcel from the list of those to be approved until legislators figured out how to solve the problem.

The two smaller parcels included buildings that were severely damaged by flooding in the aftermath of Hurricanes Irene and Lee in 2013. Legislators did not want to reject the bid from Buanno Holdings LLC, but were unsure anyone would buy the two smaller parcels if they were sold separately. They are too small to be developed under the town of Glen’s minimum size requirement.

Legislators could seek requests for proposals concerning the two smaller parcels, or they could be sold in an online auction, Weitz said. District 1 Legislator Thomas L. Quackenbush. chairman of the legislature, said he could call a special meeting if necessary to resolve the issue.

About John Becker

John Becker is both a Reporter and Consulting Editor for The Compass. He and his wife Pat operate Abbey Farms in Amsterdam NY.

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