140+ NORA Properties Hit Auction Block Tomorrow

by CSB Staff • March 28, 2014 • Acquisitions, Public Development • Comments (1) • 5459

The New Orleans Redevelopment Authority will auction off 140+ proprieties tomorrow at the convention center.

Properties include single family homes, doubles and vacant lots. The properties are located in the New Orleans East, Holy Cross, Gentilly, Lower Ninth Ward, St. Roch and Lakeview neighborhoods.

There is no cost to bid, no Buyer’s premium, and no minimums! Winning bidders to have to put down a non-refundable minimum deposit, per property, of $2,000 or 10% of bid price whichever is greater. The deposit is due the day of the auction and must be in the form of cashier’s check, money order, cash or certified funds.

“We have received hundreds of inquiries since launching our online database of properties. We are excited to make available this next pool of properties,” said Jeff Hebert, NORA’s Executive Director.

Winning bidders must agree to rehab or begin construction on the property within 365 days and keep it code compliant. Bidders may use the property for green space if their property is directly adjacent to the property acquired at the auction.

Check out the properties up for auction here.