Good outcome for auction

Published 9:18 pm Wednesday, September 12, 2012

Now that all is sold and done, the early outcome of an auction of a 103-year-old Bank Street home turned out about as well as possible for Suffolk.

A Maine woman looking to start her own bed and breakfast bought the house at auction for a total of $440,000 — a $400,000 bid plus a 10-percent buyer’s premium. Ruth Baker, who is from Virginia originally, said she plans to move to Suffolk and live in the beautiful old home while running the business.

If Baker’s venture is successful, the home will be preserved and the property behind it, which includes a condemned house, will be improved. Further, it will bring revenue to the city through the business and visitor spending.

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That’s a far cry from the specter of a rental property with an absentee owner that could have been the dying gasp of the dignity and historical nature of the home.

As an added bonus, the good work of the Western Tidewater Free Clinic, which has been lauded many times on this page, will be supported by five percent of the net proceeds of the sale of the real estate. Ten percent of the net proceeds of the rest of the estate’s personal property will support the ALS Association, which fights a debilitating condition commonly known as Lou Gehrig’s disease.

We are pleased the home was purchased by a caring owner who plans to bring revenue to the city, and we thank the family for its generosity in parting with their parents’ home and family heirlooms to support causes that help the community.

We wish Ms. Baker much success in her endeavor.