With the economic downturn not far behind us, property auctions are familiar to many throughout the metro area. The foreclosures of thousands of properties have benefited many bidders as courthouse and bank auctions can offer some great deals. Now, one of the largest land owners in the state is advertising their own property auctions online.
The Georgia Department of Transportation (GDOT) has begun to publicly advertise properties that are being disposed of by the Department. Currently in its first phase, the program will be expanded with the addition of more properties in the future. However, this initial phase is allowing GDOT to test the waters and gauge the interest and success of the site.
The website, gdotland.com, currently lists seven properties, two of which have already sold. Ranging from intersection adjacent properties to single family homes in subdivisions, GDOT is looking to sell off the properties advertised on the site via a mail in auction. As described on the site, anyone interested in a particular property must download its specific bid package located on the property’s info page, unless otherwise noted. Some properties listed must go through GDOT’s Office of Right of Way, which issue their own bid proposal forms. These forms have all the information regarding the requirements and deposit that must be fulfilled in order to place a bid.
Considering the substantial amount of land that GDOT currently owns and manages and the changing needs of proposed transportation projects, the advertisement of excess properties provides an outlet that is sure to benefit both the department and bidders alike. The next time you are looking for a property auction, remember to look beyond the courthouse and bank auctions as GDOT may have something for you. To visit the GDOT’s surplus land website, click HERE.