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City of New Orleans to hold online auction for adjucated properties

May 29th, 2016

WWL.com Reporting

 

The City of New Orleans will host its monthly online auction for adjudicated properties on Wednesday, June 1, 2016, from 8 a.m. to 8 p.m., subject to a rolling close in case of last-minute competitive bidding.

Nineteen properties are scheduled to be sold throughout the community, where winning bidders will receive full ownership and title insurance for each property.

The City reminds residents that there are over 900 properties still available for deposit to begin the research and notification processes before an auction may be scheduled.

A list of these properties, as well as the list of properties in the July 6 auction, is available at CivicSource.com, which is also where the online auctions will take place.

A property is adjudicated to the City when its property taxes have not been paid – becoming delinquent – and the City is unable to sell the property at a tax sale. The City will only auction properties where five years have elapsed from the tax sale certificate filing date. Any interested party may bid on a property in the auction, whether or not they placed the initial deposit on the property (depositors who lose at auction will have their deposit refunded within a few days).

All owners of adjudicated properties scheduled for auction have received multiple notices of taxes owed with a legally-mandated 60-day repayment grace period, including first-class and certified notices of sales.

Once a property is successfully auctioned and then sold, all adjudicated property owners, as well as those who have a recorded interest in a delinquent property, will forfeit all rights to the property. The number of properties available for auction in June could change as delinquent property owners pay the taxes and fees due.

Questions about delinquent taxes and the adjudicated property sale process should be directed to Department of Finance’s Bureau of Treasury by calling toll free 1-888-387-8027.

http://www.wwl.com/City-of-New-Orleans-to-hold-online-auction-for-adj/22759628