City to Auction Four Properties This Friday
NEW ORLEANS – September 10, 2015 – (RealEstateRama) — This Friday, Sept. 11, 2015, the City of New Orleans will auction four City-owned properties in the City Hall Council Chambers at 10 a.m. The Department of Property Management through the Division of Real Estate and Records will conduct the auction. Registration begins at 9 a.m.
The property auction order is as follows: 7450 Paris Road, 4131 Elysian Fields Avenue, 4415/4435 Wilson Avenue and 2019 Third Street. These properties are owned and were previously used by the City but have been determined to be “no longer needed for public purposes.” The Home Rule Charter requires that the properties be sold at public auction instead of sold privately.
Click here external link to learn more about the four City-owned properties being auctioned or schedule an appointment to view a property.
“The City of New Orleans is committed to operating more efficiently,” Deputy Mayor and Chief Administrative Officer Andy Kopplin said. “These properties have been deemed as no longer needed for public purposes and it is important that they are put back into commerce as soon as possible.”
AUCTION INSTRUCTIONS
Starting bids for properties are set at fair market value.
The winning bidder must deposit ten percent of the winning bid amount with the Real Estate and Records Division (City Hall Room 5W06) within one hour of the completion of the auction.
The deposit must be in cash, certified check, or money order and is non-refundable.
If the deposit is not received within one hour, the property will be offered to the second highest bidder.
Additional costs over the winning bid must be paid to complete the sale. These costs include: appraisal, Clerk of Court costs, City Notary fees, possible resubdivision fees and other possible costs.
The City of New Orleans cannot contract with convicted felons, City employees, or any party that owes taxes to the City of New Orleans.
Also, the City will distribute required paperwork to the winning bidder, such as a tax clearance affidavit, vendor registration form, and other required information.
All documents must be completed prior to the Act of Sale date. Sales must be completed within 120 days of the winning bid. Depending on when the Division of Real Estate and Records receives the appropriate paperwork from the purchaser, transfer may take place within three months.
Upon purchase of the property, the new owner must clean, repair, secure, or otherwise remove the conditions of blight upon the property within 60 days. Some of the properties may require the purchaser to obtain a certificate of occupancy from the Department of Safety and Permits, which must be achieved within 18 months.
Click here external link to learn more about the four City-owned properties being auctioned or to schedule an appointment to view a property
