NEW MEXICO
Albuquerque Business First
Stephanie Guzman
Reporter
Albuquerque Business First
The Roman Catholic Diocese of Gallup has more than 120 properties in both New Mexico and Arizona that are set to go on the market as part of a court-ordered auction. The auction comes after the diocese’s bankruptcy proceedings which began in 2013.
Accelerated Marketing Group and Tucson Realty and Trust Co. are offering the properties in two auctions, the first of which is in Arizona. About 100 properties in New Mexico will be auctioned in Albuquerque on Sept. 19 at the Sheraton Albuquerque Airport Hotel located at 2910 Yale Blvd SE.
Todd Good, president of Accelerated Marketing Group, said auctions are an effective way to quickly liquidate real estate assets. Some properties up for auction include a Catholic Charities building in Farmington and a 151-acre residential subdivision — La Vega Estates — in Cibola County.
At the auction, the properties will be sold regardless of the price, Good said. “If you’re the high bidder, you win the property and are not subject to court approval.”
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