Priest Lake Lots to be Auctioned
The State of Idaho is auctioning sixty one Priest Lake lots this month. Many of the lots have been used for family cabins for decades. The state decided a few years ago to get out of leasing land to cabin owners, after disagreements over fair market value.
Idaho Department of Lands Spokeswoman Sharla Arledge says in previous auctions, lots at Priest and Payette Lake in the South have mostly been sold to those who have cabins on them: “Of all the lots at both lakes, 98 percent have been purchased by the current lessee. If the lessee doesn’t win the bid, the winning bidders must pay the lessee for the appraised value of the cabin and all of their improvements that have been made.”
Arledge says it has been up to the current lessees to decide when they want to allow the lots to go to auction, and see if they are lucky enough to be able to purchase them. She says after this month’s auction, there will still be 149 properties, owned by the state, that will be auctioned at a future date. She says she expects the state will make a final decision on what to do with any lots that are still in the state inventory if they are not sold in the next two years.
The current auction will take place august the 18th and 19th at the Coeur d Alene resort.
You can see the listings of the properties at Corbett Bottles Real Estate Marketing, LLC.