Lake Charles, LA (Oct. 6, 2016) – The Lake Charles North Redevelopment Authority (LCNRA) has initiated the process of online adjudicated property auctions through CivicSource, a leading auctioneer of tax-distressed real estate. The goal of these property auctions is to achieve multiple objectives including, the placement of adjudicated properties back into commerce, the reduction of blight, to offer the opportunity of property ownership in North Lake Charles to residents, and to give original property owners a chance to settle their outstanding tax bills and redeem their properties.
The properties are those that previously went unsold in a tax sale, and as a result, became adjudicated to the City. Only properties that have been adjudicated for more than five years will be available. The auction will provide winning bidders with full ownership of each property along with title insurance.
“The sale of these properties to responsible tax payers will help to increase property values, strengthen our neighborhoods, and play an essential role in redevelopment of the North Lake Charles community,” said LCNRA President, Kathleen Dorsey Bellow. We encourage neighbors interested in property ownership in North Lake Charles to browse the property inventory and take advantage of this opportunity.”
The auctions will place these properties back on the tax rolls, return them to commerce and generate significant, recurring annual tax revenues to the city.
“With CivicSource as the auction facilitator, the final sale price of each property includes a clear title, title insurance, and closing fees. In addition, property owners who live next door to properties already in the auction inventory, and who meet certain legal requirements, could potentially purchase that property for the costs to bring the property to auction,” said Corey Rubin, Assistant City Attorney and Liaison to the LCNRA.
North Lake Charles adjudicated properties will be listed on civicsource.com on Tuesday, November 1, 2016. Interested buyers will be able to view a map, a list, or a street view of the adjudicated properties and register to participate in the auction. Registered users nominate properties for auction through an $850 deposit. The initial $850 deposit will go toward the sale price of the winning bid. Complete details about the online auction process are available at www.civicsource.com/help, or interested buyers can call (888) 387-8033, Monday-Friday from 8a.m.-5p.m. to speak with a help representative from CivicSource and have their questions answered.
On Tuesday, October 25, 2016, CivicSource will hold a public information session for purchasing North Lake Charles adjudicated real estate at 6:00 p.m. at the Allen P. August Multi-Purpose Annex located at 2000 Moeling St. in Lake Charles, LA 70601. If you would like to attend the public information session for North Lake Charles 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