The city of Trenton will conduct an online public auction of 50 city-owned properties at 10 a.m. Wednesday.
Of the 50 properties, most are residential and require the bidder to commit to living at the property for five years. The auction includes multiple commercial properties and vacant lots as well.
All interested bidders must register at www.trentonnj.org/auction. After registering, interested bidders will find photographs and other information related to each property.
“For the first time ever, we are hosting an auction online to address any related COVID-19 concerns, broaden our reach, and make it as easy as possible to participate,” Mayor Reed Gusciora said. “Our goal is to get these properties back to where they belong: in the hands of Trentonians who want to call this city their home.”
While registration for the auction is free, all bidders will be required to make a deposit of $1,000 in order to participate. The deposit will be credited to the purchase or refunded to bidders who do not successfully bid on any property.
Successful bidders are required to make a nonrefundable deposit of 10% of the successful bid within 24 hours of the day of the auction. The successful bidder will be notified by the city of the date and time to come to city hall to execute the contract of sale.
The auction is being run by Trenton’s Department of Housing and Economic Development.