New Orleans’ new online-auction system for tax-adjudicated properties went online Friday and was greeted by a flurry of action from potential buyers.
Since a previous guide to the auction was posted, readers have posted new questions and some fundamental aspects of the program have changed, notably the “guarantee” of title insurance.
A company is asking the Rapides Parish Police Jury to join some other government agencies in Louisiana in letting the company handle the sale of adjudicated properties to collect delinquent taxes.
While there would be no cost to the Police Jury, the process would increase the cost to those buying the properties. In return, the new owners would have clear titles, something they do not get now, a company representative said.
NEW ORLEANS – For the first time ever, New Orleans will hold an online auction for nearly 1,800 properties across the city that have become delinquent. The full list of available properties will be made live at noon Friday March 6, and the first online auctions are expected take place in the summer.
Winning bidders will be given full ownership of the property with guaranteed title insurance. This is the City’s first adjudicated property sale in many years, and it is the City’s first time using an online auction to sell adjudicated properties.