100 NOLA Adjudicated Properties Up for Auction July 1

by • June 5, 2015 • Public DevelopmentComments (0)1641

Image via NORA Facade Renew program.

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!

 

 

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