Posted: Friday, 11 October 2013 6:03AM
New Orleans properties on the auction block
The New Orleans Redevelopment Authority will be offering a number of properties at auction in November. And, interested buyers can get a look at the properties this weekend.
They're spread throughout the city...in Gentilly, New Orleans East, Holy Cross, the Seventh Ward, St. Roch and Lakeview.
""There are more than 130 properties," says Brenda Breaux, Chief Operating Officer for NORA. "About 50 of those include structures."
Breaux says these are not blighted properties. "They're properties that NORA owns. They're former Road Home properties that we received in our inventory or properties that NORA may have owned in and of itself."
The properties will be up for bid on Saturday, November 2nd, starting at 11 a.m. in the Iberville Club Lounge at the Superdome. Registration will begin at 9 a.m.
Single family homes, doubles and vacant lots are included and are spread throughout the city...in Gentilly, New Orleans East, Holy Cross, the Seventh Ward, St. Roch and Lakeview.
"All of our lots are maintained," Breaux says. "The structures, for the most part, are structures that you buy 'as is', which is why we're having the open house."
"Individuals can inspect about 50 of the structures on Saturday and Sunday, this weekend, beginning at 11 a.m. to 4 p.m."
"The properties, for the most part, have been gutted," says Breaux. "There may be some that they started interior renovations on and, for whatever reason, stopped. But, they're great opportunities for individuals who want to buy properties at a fair, fair price."
A nonreturnable minimum deposit of $2,000, or 10 percent of the winning bid price, will be required of the highest bidders. That deposit, in the form of a cashier’s check, will be due the day of the auction. There is no cost to bid and no buyer's premium required.
Winning bidders must also agree to rehabilitate or begin construction on the property within a year and maintain it at code compliance.
A high bidder can use a property for green space if they own property directly adjacent to the property they acquire at the auction.
"It's an excellent opportunity for individuals to participate and buy a bit of New Orleans," says Breaux.
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