Seized Ranches Sold at Rock-Bottom Prices

SNEADS, FL-They don’t know yet what they are going to do with the properties but the deals were ones they couldn’t refuse–thousands of acres of ranch land bought for three cents and four cents per sf.

That’s what Waymon Moneyham, a Marianna, FL rancher, and Greg Preble, a Tallahassee, FL civil engineer, told GlobeSt.com real estate sources in this North Florida town of 2,000 residents after making the winning bids at a public auction on a total 1,688 acres of ranch land.

Seized after the arrests and convictions of the Miami-based Vega family in January, the Treasury Department unloaded the properties for the total bargain price of $2.75 million, brokers familiar with the transaction tell GlobeSt.com. The criminal division of the Internal Revenue Service in Orlando confirms the transactions for GlobeSt.com.