An auction for the Bath Country Club produced no bidders, forcing Savings Bank of Maine to buy the foreclosed property.
The Gardiner-based bank bought the 117-acre property for $1.95 million and will now attempt to sell it on the open market, according to The Times Record. Savings Bank of Maine foreclosed on the property last month after owner BCC Holdings Inc. defaulted on its mortgage payments. A trustee in charge of the golf club said it will remain open in the meantime and will be managed by BCC Holdings' Shawn Arsenault and Jason Marco.
BCC Holdings bought the property from Harris Golf in 2006 for $3.4 million.
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