A former Madison recreation department building next to a parking lot on Maple Avenue is scheduled to be auctioned off as a one-family home at 10 a.m. Oct. 18 in the courtroom at Hartley Dodge Memorial.
The minimum bid is $200,000 and all bidders must be present, in person or by an authorized representative, according to details about the auction posted on the Borough Administration website.
Financing should be arranged in advance, and the highest biddger will need to provide a $25,000 deposit within an hour of the conclusion of the auction.
The property is being sold "as is" and the governing body may approve or reject the bid at its next meeting. The building was rezoned so it can be used as a home instead of a government building.
At closing, the borough will execute a license agreement to let the owner park up to two vehicles in designated spots in the municipal parking lot adjoining the property.