The auction of the former Davis Island Grill and two condominiums in Edgecomb planned for Oct.18 has been postponed to a later date.
According to auctioneer Stefan Keenan of the South Portland based Keenan Auction Company, there was never an “as built” plan filed with the Lincoln County Registry of Deeds. He said without this plan the owner couldn’t get an insurance title.
The Bank of Maine decided to get the proper paper work filed and re-schedule the auction for a later date.
“We are fortunate we found it before the sale,” Keenan said.
The auction for the Coburn House in Boothbay, planned for the same day, did go on. Poe Cilley, a broker from Carleton Realty, was the high bidder. Her $75,000 bid did not meet the bank’s reserve and a further conference with the bank will be required.
The Coburn House, located at 732 Wiscasset Rd. (Route 27) was a bed and breakfast with eight suites, lounge/bar and pool. It sits on 7 plus acres and has an appraised value of $387,300.