Two Franklin homes to be auctioned

Published 7:46 am Friday, August 20, 2010

FRANKLIN—Two Franklin homes will go up for auction next week, including one that has a minimum bid of $1,000.

Williams & Williams Marketing Services, a real estate auction firm in Tulsa, Okla., will handle the sales.

“Most of the properties we have at auction are either distressed, in pre-foreclosure or foreclosure,” Mike Birnbaum, integrative marketing manager for Williams & Williams, said Wednesday. “I can’t say for certain (about the houses in Franklin), but that is typically what is out there for investors.”

One is a 1,300-square-foot, three-bedroom home at 121 Langston Court. It was built in 2006. The nominal opening bid is $1,000.

The second at 212 Southampton Road was built in 1959 and has five bedrooms. The 1,700-square foot home sits on a half-acre. Bidding will start at $10,000.

Both will be auctioned at 5 p.m. Tuesday, Aug. 24, from the Southampton Road property.

“Sometimes if there are several auctions going on in one community, all of the auctions will be held at one site,” Birnbaum said.

According to Williams & Williams, open houses for both properties will be from 1 to 4 p.m. Saturday, Aug. 21,and at 3 p.m. on Tuesday, just before the sale.

Birnbaum said there is no set increment for the bidding.

“It all depends on who shows up, how many people are bidding online and how the auction goes,” he said. “The auction is usually over within five minutes.”

Birnbaum added that although his firm was busy, it was not working at a high point.

“Right now we are averaging about 1,200 properties across the United States every month,” Birnbaum said. “We’ve had more, we’ve had less. But we do operate on a pretty quick, 30-day turnaround cycle.”