Auction On Delay

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Created on Tuesday, 29 October 2013 19:00
Written by Adam Donnelly

forclosure saleLYNDON- The condition of the Changing Seasons Motel and the connecting Vinny's Restaurant has greatly unimpressed bidders. As a result, an auction on the motel and restaurant has been pushed back until November.

 

The starting bidding price for the Changing Seasons and Vinny's was asking bidders for $250,000. After nobody responded to the initial bid, the price was lowered to $100,000. After much discussion, the bank and the attending bidders were unable to compromise with a starting bid price. As a result, the decision was made to postpone the auction, and all bidders were rushed out of the building.

Louie Buzzi built the adjoining restaurant in 1983, "Bordering my property, I'd certainly like to have it back. It's in bad enough shape so it's going to need a fair amount of money to put it back to a working condition. It's at the point where you get so much money into it and it's like jumping onto a sinking ship. It's a sad situation, it really is," Buzzi said. Buzzi is disappointed to see what he had spent so much time, effort, and money on end up in such horrible condition.

Buzzi does plan on attending the auction, and if he wins the bid he is still uncertain if he is going to tear the building down or refurnish it.

The new auction date has been set for November 20th at 3pm.