A buyer has been found to purchase from Litchfield a foreclosed 78-acre property at 66 Donahue Road, less than a month after a sealed bid auction failed to generate an acceptable bid for the property.
The Board of Selectmen recently approved a bid of $337,500 that was submitted by John B. Maxwell of Cam Properties in Thomaston. Selectmen authorized First Selectman Leo Paul Jr. to sign a contract for a sale.
The purchase price will help the town offset more than $350,000 in back taxes, lien fees and interest, legal fees and other costs that have accrued since foreclosure proceedings started in 2010.
Maxwell expressed an interest in the property, Paul said, shortly after selectmen rejected sealed bids of $265,000 and $176,000 in January. The minimum bid in the auction was $395,000.
After rejecting the bids, selectmen authorized Paul to use a real-estate broker to try to sell the property that has been in the town’s possession since June 2015.
The property includes a five-bedroom, three-and-a-half bedroom house and is assessed at $469,220 for tax purposes, according to town land-use records. Back taxes on the property total $224,586, according to the tax collector’s office.