East Baton Rouge Parish To Hold Online Auction For Tax Adjudicated Property June 1
More than 1,500 properties awaiting deposits and research in order to be scheduled for future auctions
EAST BATON ROUGE PARISH, LA (May 27, 2016)– East Baton Rouge Parish will host its monthly online auction for adjudicated properties on Wednesday, June 1, 2016 from 8 a.m. to 8 p.m. at CivicSource.com. A total of 24 properties are scheduled to be sold, where winning bidders will receive full ownership of each property with title insurance.
Adjudicated properties are properties that have failed to sell at a previous tax sale. The average starting bid on these properties is $4,000, which includes all closing costs, as well as the cost of title insurance. Title insurance protects the new land or home owners against any defects in the title of the property. The last auction was held on May 4th with the highest property bid selling at $30,000.
An $850 deposit initiates the research and notification processes on a property, which is required by law prior to the property being scheduled for auction. Parish Officials said any interested party may bid on a property in the auction whether or not they placed the initial deposit on the property. If you are not the winning bidder, you are refunded your full deposit within a few days. Office of the Parish Attorney said there are more than 1,500 properties awaiting deposits and research in order to be taken to future auctions.
“I encourage residents to visit CivicSource.com to check out the available inventory. All it takes is one depositor to start the research and notification processes so that we may schedule the property for auction,” said Special Assistant Parish Attorney William R. Aaron, II.
Interested buyers can visit www.civicsource.com to view a map, a list, or a street view of the auction inventory and register to participate in the auction or place a deposit.
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.