Monthly auction of Baton Rouge properties Wednesday, after owners fail to pay taxes

The Advocate staff report 

East Baton Ropuge holds auctions the first Wednesday of each month to sell property seized when the owners did not pay their taxes.

A number of properties are up for auction on Wednesday, Sept. 7, from 8 a.m. to 8 p.m. Click here to see a map of available properties. Click here to see in list form.

In February the city owned about 2,000 tax adjudicated properties, many abandoned and blighted. That month, the city partnered with CivicSource, a New Orleans-based company that allows prospective buyers to place their bids online.

By law, the government can hold an auction once someone puts down a deposit, typically $850. The city then advertises the sale, puts it on the block and sells it to the highest bidder.

The winning bid covers the price of the title, closing cost and title insurance. The person who pays the deposit gets the money back if he or she doesn’t win the auction.

Link to Article

LA Local Governments Spur Economic Activity, Neighborhood Revitalization Through Use Of ‘CivicSource’ Innovative Technology

BIZ NEW ORLEANS

7-8-16

NEW ORLEANS – Reps with CivicSource, the leading auctioneer of tax-distressed real estate, said while governments across the country are trying to avoid raising taxes, Louisiana’s local governments have found a way to increase revenues without increasing taxes – they are placing tax-adjudicated properties back on their tax rolls.

Read More

City on way to prettier neighborhoods

The Daily News

Bogalusa, LA-We’re happy that so far six homes that had been abandoned and off of the property tax rolls in Bogalusa have now been sold, are on the tax rolls and are on their way to looking better.

We want to congratulate the city leaders once again for voting to allow CivicSource to auction off abandoned property. Six houses isn’t a lot in the face of the dozens of abandoned properties, but it is better than nothing and we suspect when more people realize they can buy a home for $5,000 or $6,000, they will participate in CivicSource auctions. And while it is true that these houses may need a lot of work, the end result could easily be less than buying a home in better shape.

Read More

CivicSource puts abandoned homes back on tax rolls

The Daily News

By Jesse Wright Published 7:18 am Friday, July 8, 2016

Bogalusa, LA – Just after 8 p.m. Wednesday, the house at 322 Caswell Ave. got something it hadn’t had in a long time — an owner.

It’s not clear who owned the home or when anyone last lived at the address. The unassuming residence is today hidden behind weeds as tall as a person. A window is broken. Around the side of the home, underneath the carport, a door stands open. The smell of mildew hangs in the summer heat. But all that could change thanks to a bidder and the CivicSource program.

Earlier this year, the city board allowed CivicSource, a private company, to auction off abandoned homes in Bogalusa. So far, Brian Danos, the chief operations officer for CivicSource, said his company has auctioned several homes in Bogalusa and Wednesday’s auction was the latest. By noon, the home had a single bid of about $5,300, but Danos said he couldn’t predict whether it would get higher.“We usually see a good bit of bids right at the beginning, and a good bit of people usually wait until the very end, and it becomes very interesting,” he said. That particular crept a bit higher and the house eventually sold for $6,010 after 66 bids.

City leaders agreed to let CivicSource auction off abandoned properties after dozens of such properties had piled up over the decades and, in those decades, the city had been able to auction not a single one.Danos’ company might not be the cheapest way to auction property — they charge fees to the homebuyers — but they’re among the most thorough. While the city did not guarantee the buyer a title free and clear, CivicSource does, meaning that a new home owner can’t be challenged if the abandoned home owner’s relative should ever come forward to claim it.

Danos said his hope is that by searching for the rightful owners of the property, those people will come forward and claim their home. “The best case scenario for everyone is if the delinquent home owner comes in and pays,” he said. “That’s what we’re hoping for. But there are times when delinquent owners just don’t pay.” In those situations, the home is auctioned and this way the city can earn some money through property taxes. Danos said by the time the homes go to auction, a buyer could have a new home free and clear within weeks. “We try to close each property within the month,” he said.

Though the service has been available since March, the auction process is still new in Bogalusa because CivicSource only runs auctions once a month. Counting this week’s sale, they’ve only sold half a dozen homes. “I guess we’ve done six so far, if you count the one today. That’s pretty good,” Danos said.

CivicSource operates auctions for cities across the state, including for New Orleans. He said he thinks selling six homes is good in a city the size of Bogalusa. “Yeah, I mean, it’s hard to tell in smaller cities what the level of interest is,” he said. “I’ve gotten a lot of phone calls asking about it.” He said he expects the business to pick up, as well.  “As they sell, and if they’re renovated, we’ll see interest pick up. Word of mouth travels pretty quickly in these smaller cities,” he said.

The auctions are based on whatever properties get a deposit placed. If there is a deposit placed, then there will be an auction, though if the person who placed the deposit loses the bid, then the person will get the deposit back.“There’s only one instance when the depositor won’t get their money back,” Danos said. “That’s if it goes to sell and nobody bids in the auction. That’s what the deposit is for.”

So far, there are three auctions in Bogalusa slated for August and one for September and October, respectively. The auctions are always on the first Wednesday of the month.

To see the complete list of properties available in Bogalusa, visit the CivicSource website at www.civicsource.com.

CivicSource puts abandoned homes back on tax rolls

The Daily News

Published 7:18 am Friday, July 8, 2016

Just after 8 p.m. Wednesday, the house at 322 Caswell Ave. got something it hadn’t had in a long time — an owner.

It’s not clear who owned the home or when anyone last lived at the address. The unassuming residence is today hidden behind weeds as tall as a person. A window is broken. Around the side of the home, underneath the carport, a door stands open. The smell of mildew hangs in the summer heat. But all that could change thanks to a bidder and the CivicSource program. Earlier this year, the city board allowed CivicSource, a private company, to auction off abandoned homes in Bogalusa.

Read More

CIVICSOURCE TO HOLD ONLINE AUCTIONS FOR TAX ADJUDICATED PROPERTIES JULY 6

Available Properties in East Baton Rouge Parish; Orleans Parish; Tangipahoa Parish; St. Bernard Parish; Jefferson Davis Parish; St. John the Baptist Parish and Bogalusa

New Orleans, LA (July 5, 2016) – CivicSource will host online auctions for adjudicated properties on Wednesday, July 6, 2016 from 8 a.m. to 8 p.m. at CivicSource.com. Over 100 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 $5,000, 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.

A deposit initiates the research and notification processes on a property, which is required by law prior to the property being scheduled for auction. 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. There thousands of available properties throughout Louisiana awaiting deposits and research in order to be taken to future auctions.

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.

About CivicSource:

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.

 

###

Shelby County’s online-only real estate tax sale begins Wednesday

MEMPHIS, Tenn. (June 20,2016) By Linda A. Moore of The Commercial Appeal

Shelby County will holds its third online-only real estate tax sale Wednesday through Friday with an expected 400 properties available for purchase.

The sale begins at 8 a.m. Wednesday and is scheduled to end at 8 p.m. Friday unless bidding on properties continues.

The vacant lots, commercial buildings and houses will be randomly grouped to open and close at different times, allowing investors an opportunity to bid throughout the sale.

The opening bids represent the delinquent city and county taxes, accrued interest and penalties, court costs, attorney fees, service and title costs. Also, owners of a property have until the close of business the day before the sale to pay the amount owed and remove their property from the sale.

Anyone interested in participating can register at www.CivicSource.com.

The sale is conducted four times a year and is a joint effort of the chancery court clerk and master and the county trustee’s office.

The county held it’s first online-only tax sale in January, followed by a second in April.

Link to Article

 

SHELBY COUNTY TO HOST THE THIRD ONLINE TAX SALE JUNE 22-24

Sending more properties to tax sales fights blight; puts pressure on tax-delinquent owners to pay

MEMPHIS, Tenn. (June 16, 2016) – In the third of four innovative online tax sale auctions, Shelby County Government will offer over 400 residential, commercial and vacant properties at www.CivicSource.com, beginning Wednesday, June 22 at 8 a.m. through Friday, June 24 at 8 p.m..

The tax sale is conducted four times each year and is a joint effort of the Chancery Court Clerk & Master and the Shelby County Trustee’s Office. For the third auction, the 400 available properties are randomly grouped into four batches, with each batch having a different closing time. This will allow investors to redeploy unused capital throughout the sale.

As in the past, the opening bid for a property includes delinquent city and county taxes, accrued interest and penalty charges, court costs, attorney fees, as well as service and title costs. Owners of the property may still pay the amount of taxes governing the sale up until the close of business prior to the day of the sale.

“Nearly 50 properties were purchased in the last tax sale which was held in April. For the next to last sale for the year, we hope the pool of prospective bidders broadens to aid in delinquent collections and our fight against blight,” said Shelby County Trustee David C. Lenoir.  “Everyone pays more because of the blight in our communities. Blighted properties represent money lost in unpaid taxes and decreased property values.”

Interested parties can sign up for the tax sale at http://www.civicsource.com. Register now for a free account and familiarize yourself with several investor friendly features such as custom watch-lists, sliding close and proxy biding.

Additional questions can be directed to the Shelby County Trustee, at (901) 222-0200, or the Chancery Court Clerk & Master’s office at (901) 222-3900.

#  #  #

Real Estate Road Show Returns June 16

Memphis Daily News

MEMPHIS, TN (June 12, 2016) A primer on Shelby County property tax sales is June 16 at the Memphis Bioworks Foundation auditorium, 20 S. Dudley St., from 2:30 p.m. to 4 p.m., starting with a 2 p.m. sign-in.

The Real Estate Road Show session comes in advance of the three-day online tax sale June 22-24, which is expected to include about 400 properties – residential, commercial and vacant land.

Real estate information company Chandler Reports, which is owned byThe Daily News Publishing Co., is a sponsor of the road show.

The road show is an explanation of how the sales work, with representatives from Chancery Court and the Shelby County Trustee’s office present to walk those interested through the steps and the conditions for buying property.

Opening bids include delinquent city and county taxes, accrued interest and penalty charges, court costs, attorney fees, and service and title costs.

The briefing will include an explanation of recent changes in the redemption period for properties.

The online sales began in January through CivicSource.com, and those attending the road show are encouraged to bring laptops or other mobile devices to test the new software.

Register for the road show at reroadshowmemphis.eventbrite.com.

– Bill Dries

D.A.’s office leading effort to sell tax delinquent properties

L’Observateur

Published 12:10 am Wednesday, June 8, 2016

EDGARD — There have been 11 adjudicated properties in St. John the Baptist Parish sold through a partnership between the St. John the Baptist Parish District Attorney’s Office and auction house CivicSource. District Attorney Bridget A. Dinvaut said three more properties are being auctioned this month. Dinvaut said she is impressed with CivicSource for numerous reasons, one being CivicSource gives new property owners title insurance.

Read More