NEW ORLEANS, LA (May 17, 2016) – On Monday, May 23, 2016, CivicSource will hold an investment seminar for St. Tammany Parish tax adjudicated real estate at 6:00 p.m. at The Southern Hotel located at 428 East Boston St. in Covington, LA. Interested investors will learn how to purchase tax adjudicated real estate with title insurance.
St. Tammany Parish is taking the necessary steps to sell thousands of adjudicated properties through a new online auction process. The properties are those that previously went unsold in a tax sale, and as a result, became adjudicated to the parish. Only properties that have been adjudicated for more than five years will available. The sale will provide winning bidders with full ownership of each property along with title insurance.
St. Tammany Parish is collaborating with CivicSource to auction the tax delinquent properties. The sales will place these properties back on the tax rolls, return them to commerce and generate significant, recurring annual tax revenues to the parish. There is a complete listing of qualified adjudicated properties on CivicSource.com where investors nominate properties for auction through a sale initiating deposit of $750.
The online auction replaces the traditional adjudication sale held at the Courthouse where participants were required to be present during the auction process. By hosting the sale online, bidders who would not normally be able to attend the auction in person are still able to participate from their homes or places of business.
CivicSource has already proven successful in other communities across the state. Since launching in July, the auctions have collected nearly $20 million in unbudgeted revenue through the sale of almost 1000 properties.
If you would like to attend the investment seminar for St. Tammany Parish tax adjudicated real estate, email your RSVP to RSVP@CivicSource.com.
CivicSource is the leading auctioneer of tax-distressed real estate. From tax sales to adjudication auctions, CivicSource digitizes due process compliance to ensure legally valid sales. Founded in 2008, New Orleans based CivicSource has been recognized by Inc. Magazine’s 500|5000 as one of “America’s Fastest Growing Companies” and has been recognized as the one of the Best Places to work in New Orleans for the past five years, receiving the designation “Best Place to Work” in 2014. www.CivicSource.com