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Locals Bid on Binghamton Properties

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Some lucky bidders have new homes! More than 150 locals gathered at the Holiday Inn Saturday morning to bid on foreclosed property in the city of Binghamton.

Properties included both single and multi-family homes as well as vacant land.

Property Directors say several properties up for auction were on the market for the first time, making it the perfect time for purchasing.

Real Property Director David Hamlin said, "What you're doing is you're buying a property at a discount. Your auction price is considerably less then the actual market value for the property. A lot of them need work, but you're buying it with almost instant equity."

The County will hold another property auction in June, with about 20 to 25 properties up for bid.