March 2nd, 2016
adjudicated properties across New Orleans are up for auction Wednesday.Several
The city of New Orleans said the online auction will take place from 8 a.m. to 8 p.m. Officials said 40 properties are up for bids Wednesday.
Organizers said winning bidders will receive full ownership and title insurance for each property. The online auction is being held through Civic Source.
Adjudicated properties are those which property taxes have not been paid and the city is unable to sell the property at a tax sale. Properties will only be auctioned after five years have passed from the tax sale certificate filing date.
Officials said any interested party may bid on a property in the auction whether or not they placed the initial deposit on the property. The city said there are more than 900 properties waiting deposits and research.
City leaders said all owners of adjudicated properties set for auction have received multiple notices of taxes owed with a legally mandated 60-day repayment grace period. Once a property is auctioned and sold, adjudicated property owners will forfeit all rights to the property.
The next auction will take place April 6, where 25 properties will be available. More information about the properties can be found online.