City of Portland to auction distressed properties at public foreclosure sale Sept. 30

Press Release

Monday's foreclosure sale will include multiple vacant properties-all with delinquent code violation fines and liens-comprised of residential and nonresidential structures and lots, situated throughout Portland neighborhoods. The auction is open to the public.

Sept. 30 foreclosure sale details

Next week, the City of Portland's treasurer will hold a foreclosure sale of vacant and neglected properties located throughout Portland. The public auction will take place in-person in Room 100 of the Portland Building at 1120 SW 5^th Ave. on Sept. 30 at noon and include seven privately-owned properties, all greenlit for foreclosure by City Council over the last year.

The former Gordon's Fireplace Shop property at 3312 NE Broadway has been approved for foreclosure by Portland City Council

This foreclosure sale marks a significant change in the City's approach to foreclosure proceedings. The sale is the first since Portland City Council voted in the spring to amend the foreclosure process, shortening the redemption period from one year to three months-the final window of time a property owner has to pay off their outstanding liens, penalties and interest and redeem ownership of their property after it is auctioned-off. The previous year-long redemption period deterred potential buyers from bidding on properties and deterred winning bidders from investing in properties in the year following a sale.

Included in the Sept. 30 sale are several properties that have previously gone through the foreclosure sale process without attracting winning bids, presenting a unique opportunity for buyers interested in investing in Portland's neighborhoods.

"We want Portlanders to know that we are committed to addressing these properties," said Kevin Foster, the City's foreclosure prevention manager. "Whether it's encouraging the property owners to resolve outstanding issues or inviting new bidders to consider investment opportunities, this foreclosure sale is essential to enhancing the quality of life in Portland's neighborhoods."

Vacant home at 5923 N. Detroit Ave. will be included in the Sept. 30 foreclosure sale

The number of properties slated for Monday's foreclosure sale, originally in the double digits, was trimmed down to seven this week after the outstanding liens, penalties and interest was paid in full on three of the properties. Property owners have up until the foreclosure sale to resolve their outstanding balance and have their property removed from the sale.

Vacant and neglected properties are recommended for the foreclosure process after months to years of unpaid code violation fines and liens. Decisions about seeking foreclosure are also based on a property's negative or unsafe neighborhood impacts. The City's code enforcement program is complaint-driven. Learn more and report a code violation online.

Portland City Council is expected to refer additional properties for foreclosure action later this fall.

As of the date of this press release, the properties listed below will be available to bid on at the Sept. 30 foreclosure sale.

• Bidders purchase properties "as is"
• The City does not have ownership or control of the property and cannot provide opportunities for on-site inspections of the land or buildings
• Winning bidders must pay in full the day of the sale; payments must be made in U.S. legal currency or cashier's check made out to City of Portland

More about City of Portland foreclosure sales

Property address	Minimum bid*
9124 NE Prescott St., Portland, 97220 (map)	$135,249.68
2826 SE 87th Ave., Portland, 97266 (map)	$206,010.00
6402 SE 103rd Ave., Portland, 97266 (map)	$293,955.00
1300 N River St., Portland, 97227 (map)	$604,816.51
3312 NE Broadway, Portland, 97232 (map)	$500,617.50
4611 N Minnesota Ave., Portland, 97217 (map)	$65,077.50
5923 N Detroit Ave., Portland 97217 (map)	$105,682.50

*Minimum bid amounts are equal to or greater than the amount of the combined lien principal, interest, penalties, collection and foreclosure sales costs; or 75% of the total assessed value of the real property, as determined by the county assessor.