November 1st, 2016
Lake Charles, LA (Nov. 1, 2016) –The Lake Charles North Redevelopment Authority (LCNRA) has initiated the process of online adjudicated property auctions through CivicSource, a leading auctioneer of tax-distressed real estate. North Lake Charles adjudicated properties will be listed on civicsource.com on Tuesday, November 1, 2016 at Noon CST. Interested buyers will be able to view a map, a list, or a street view of the adjudicated properties and register to participate in the auction.
Registered users nominate properties for auction through an $850 deposit. The initial $850 deposit will go toward the sale price of the winning bid. Complete details about the online auction process are available at www.civicsource.com/help, or interested buyers can call (888) 387-8033, Monday-Friday from 8a.m.-5p.m. to speak with a help representative from CivicSource and have their questions answered.
“With CivicSource as the auction facilitator, the final sale price of each property includes a clear title, title insurance, and closing fees. In addition, property owners who live next door to properties already in the auction inventory, and who meet certain legal requirements, could potentially purchase that property for the costs to bring the property to auction,” said Corey Rubin, Assistant City Attorney and Liaison to the LCNRA.
The properties are those that previously went unsold in a tax sale, and as a result, became adjudicated to the City. Only properties that have been adjudicated for more than five years will be available. The auction will provide winning bidders with full ownership of each property along with title insurance. The auctions will place these properties back on the tax rolls, return them to commerce and generate significant, recurring annual tax revenues to the city.
CivicSource is the leading auctioneer of tax-distressed real estate. From tax sales to adjudication auctions, CivicSource digitizes due process compliance to ensure legally valid sales. Founded in 2008, New Orleans based CivicSource has been recognized by Inc. Magazine’s 500|5000 as one of “America’s Fastest Growing Companies” and has been recognized as the one of the Best Places to work in New Orleans for the past five years, receiving the designation “Best Place to Work” in 2014. www.CivicSource.com