Wednesday, August 15, 2012

LaBelle Office Building Auction Coming

Going Once, Going Twice, Sold!

LABELLE, FL. -- The new commercial building at 505 W Hickpochee Avenue and a commercial building with a laundromat on 1st Avenue in downtown LaBelle will be auctioned off at the Hendry County Courthouse on August 22nd.

A Final Judgment of Foreclosure has been signed by the court allowing the sale to go forward next Wednesday morning at 11 a.m.

The property is included in a foreclosure action by Fifth Third Bank against Washbowl of Fort Myers, Inc. and other defendants including Rajambal Balachanthiran, Kiruddinan Balachanthiran, The Bras-Plaza Strip, Inc., and First Bank who hold an inferior mortgage to Fifth Third.

The plaza is valued at about $869,000 and the 1st Avenue property about $403,000. It is likely there will be no bidders at the sale, and Fifth Third Bank will take title to the properties 10 days after the sale.

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