Image via NORA Facade Renew program.
This city is selling off roughly 1,600 of properties it’s adjudicated over the years through an online process, and the first auction of 100+ properties go up for sale on July 1.
The rules allow interested buyers to place a $650 deposit on a property, which kicks off a 90 day period for the city’s contractor to attempt to track down the owners one last time and underwrite a title insurance policy. After 90 days, the properties go up for auction.
Apparently more than 500 properties already have deposits.
Nola.com has a pretty good run-down on how the auction will work and what you need to know, which you can read here.
Happy bidding!
about the author: CSB Staff
