D.A. helping host St. John Parish property sale seminar

L’Observateur Published 12:04 am Saturday, November 12, 2016

LAPLACE — Property in St. John the Baptist Parish is available for purchase, with title insurance included, for $5,000.

That’s what officials from tax-distressed real estate auctioneer CivicSource say, and they want to share that message during a free educational seminar at 6:30 p.m. Thursday the LaPlace library on U.S. 51.

The St. John the Baptist Parish District Attorney’s Office is partnering with CivicSource to host the seminar. Those attending will learn how to purchase tax adjudicated real estate with title insurance at an average starting price of $5,000, CivicSource officials said.

The properties are those that previously went unsold in a tax sale, and as a result, became adjudicated to the parish and are available through an online auction process. St. John Parish is collaborating with CivicSource to auction the tax delinquent properties. Successful sales place the properties back on the tax rolls, proponents said, returning them to commerce and generating significant, recurring annual tax revenues to the parish.

Since partnering with St. John the Baptist Parish, CivicSource officials said 16 properties have been sold in the parish and 35 properties are available at this time. District Attorney Bridget Dinvaut said anyone interested in owning property in St. John Parish is encouraged to browse the online property inventory.

A complete listing of adjudicated properties is available at CivicSource.com, where investors nominate properties for auction through an $850 deposit. The online auction replaces the traditional adjudication sale held at the Courthouse, where participants were required to be present. 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.

Those who would like to attend the investment seminar can email an RSVP to RSVP@CivicSource.com.

CivicSource Information Session: St. John the Baptist Parish Tax Adjudicated Real Estate Thurs. Nov. 17th at 6:30 p.m.

LaPlace, La. (Nov. 10, 2016) – On Thursday, November 17, at 6:30 p.m., St. John the Baptist Parish District Attorney’s Office will partner with CivicSource to hold an educational seminar on purchasing tax adjudicated real estate at the St. John Parish Library LaPlace Branch located at 2920 Hwy 51. The event is free and open to the public. Interested citizens will learn how to purchase tax adjudicated real estate with title insurance at an average starting price of $5,000.

St. John the Baptist Parish is taking the necessary steps to sell 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. St. John the Baptist 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.

St. John the Baptist Parish District Attorney Bridget Dinvaut said anyone interested in owning property in St. John Parish is encouraged to browse the online property inventory and take advantage of this unique opportunity.

There is a complete listing of qualified adjudicated properties on CivicSource.com where investors nominate properties for auction through a deposit of $850. 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 last year, the auctions have collected nearly $20 million in unbudgeted revenue through the sale of over 1,000 properties. If you would like to attend the investment seminar for St. John the Baptist Parish tax adjudicated real estate, email your RSVP to RSVP@CivicSource.com.

 

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NORTH LAKE CHARLES TAX ADJUDICATED REAL ESTATE LISTED ON CIVICSOURCE.COM TODAY AT NOON

Lake Charles, LA (Nov. 1, 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. North Lake Charles adjudicated properties will be listed on civicsource.com on Tuesday, November 1, 2016 at Noon CST. 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.

“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.

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 auctions will place these properties back on the tax rolls, return them to commerce and generate significant, recurring annual tax revenues to the city.

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. www.CivicSource.com

 

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Residents can soon bid on north LC property

 Thursday, October 27, 2016 1:46 PM

By Emily Fontenot / American Press

Starting Nov. 1, north Lake Charles properties once repossessed by the state will be auctioned off online in an effort to recirculate them and spur development, city officials said Wednesday.

The Lake Charles North Redevelopment Authority began working with New Orleans company CivicSource, which markets adjudicated properties online, earlier this year.

Authority President Kathleen Dorsey Bellow said she and her team have been busy selecting properties to put on the company’s website.

CivicSource Chief Legal Officer Stephen Morel visited Lake Charles on Wednesday to explain the process and answer questions from the community. Over 100 people came out for the event.

Starting Nov. 1, residents can shop for local properties through CivicSource, Morel said. Once someone places an $850 deposit on a property, CivicSource will prepare it for auction. He said the deposit will go toward final payment if the person wins. If the person doesn’t win, he or she will get the deposit back.

After 90-120 days of legal work, which includes contacting heirs and securing title insurance, the property will be auctioned 8 a.m.-8 p.m. on that month’s designated auction date, which usually falls on a Wednesday, Morel said. The auction will be hosted on CivicSource’s website. The winning bidder will receive full ownership of the property at no additional cost, he said. All payments must be made within 48 hours of closing.

One question asked by the public dealt with the built-in cost of legal work. Morel said legal work costs about $5,000 on average, but could be much lower or higher depending on the number of heirs and amount of work needed to prepare the property for auction. He said bidding will start at whatever the price of legal work ends up being.

Another question dealt with rights of adjoining landowners. Morel said that if adjoining landowners meet certain criteria, they are granted right of first refusal on that property and can buy it before it goes to auction.

Morel said there are 4,000 adjudicated properties from across the state for sale on CivicSource’s website and that the number is growing.

Bellow said Lake Charles is putting 75 properties online Nov. 1 as a trial run. There are over 300 adjudicated properties in north Lake Charles alone, she said. The city will consider putting the rest up based on how well the public responds to the first 75, she said.

The goal of using CivicSource is for property buyers “to get a more excellent product,” since all the legal work will be taken care of by a team of professionals, Bellow said. The process is too complicated for a person to battle alone, she said, and CivicSource has built-in resources that take away the headache.

Bellow said the goal of recirculating property is for north Lake Charles to see healthy new development in the near future. Many people leave the area after going off to school or getting a job, she said, and the city wants to encourage them to give back to the area.

“We want them to come back home to bring back vitality to the community,” she said.

Online: www.civicsource.com.

ST. BERNARD PARISH GOVERNMENT & CIVICSOURCE TO HOLD AN EDUCATIONAL SEMINAR ON INVESTING IN TAX ADJUDICATED REAL ESTATE

ST. BERNARD PARISH GOVERNMENT & CIVICSOURCE TO HOLD EDUCATIONAL SEMINAR ON INVESTING IN TAX ADJUDICATED REAL ESTATE

Online auctions provide winning bidders with full ownership of each property including title insurance

On Tuesday, November 1st at 6:00 p.m., St. Bernard Parish Government will partner with CivicSource to hold an educational seminar on purchasing tax adjudicated real estate.  The seminar will be held in the St. Bernard Parish Council Chambers located at 8201 W. Judge Perez Drive in Chalmette, LA. The event is free and open to the public. Interested citizens will learn how to purchase tax adjudicated real estate with title insurance at an average starting price of $5,000.

St. Bernard Parish is taking the necessary steps to sell 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. St. Bernard 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.

“We appreciate the partnership with CivicSource to help spur new development and strengthen neighborhoods across our parish,” said Guy McInnis, St. Bernard Parish President.”

There is a complete listing of qualified adjudicated properties on CivicSource.com where investors nominate properties for auction through a sale initiating deposit of $850. 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 last year, the auctions have collected nearly $20 million in unbudgeted revenue through the sale of over 1,000 properties. If you would like to attend the educational seminar for St. Bernard Parish tax adjudicated real estate, email your RSVP to RSVP@CivicSource.com.

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CivicSource To Host Virtual Lunch & Learn on Wednesday, October 26th

On Wednesday, October 26th, CivicSource will host a Virtual Lunch & Learn at 12:00 p.m. CST. The WebEx meeting will provide attendees with an overview the Company, the adjudicated property sale process, how to navigate our website, register and participate in upcoming auctions.  Email your RSVP to RSVP@CivicSource.com and you will receive login details.

 

 

 

LAKE CHARLES NORTH REDEVELOPMENT AUTHORITY LEADING EFFORT TO PUT ADJUDICATED PROPERTIES BACK ON THE TAX ROLLS

Live KZWA FM 104.9

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.

LAKE CHARLES NORTH REDEVELOPMENT AUTHORITY LEADING EFFORT TO PUT ADJUDICATED PROPERTIES BACK ON THE TAX ROLLS

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.

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. www.CivicSource.com

 

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City of New Orleans Lists Over 170 New Adjudicated Properties for Sale

City of New Orleans Mayor’s Office Press Release

SEPTEMBER 29, 2016

NEW ORLEANS — Today at noon, the City of New Orleans will list over 170 new adjudicated properties available for sale at CivicSource.com. These properties were adjudicated to the City due to unpaid property taxes. The properties went unsold at tax sale and in many cases have been off the tax rolls for years, not generating annual tax revenues for the City.

Since the City initiated the first online auction in July 2015, the sale of over 650 adjudicated properties throughout New Orleans neighborhoods has brought in almost $13 million in unbudgeted revenue for the City.

“The online auctions through CivicSource.com have been a resounding success for the City,” said Mayor Mitch Landrieu. “By using the City’s Open Data, we’ve turned property auctions into a civic entrepreneurship opportunity that is reducing blight quickly and returning these properties back to commerce and strengthening neighborhoods. In addition, the City is recouping important revenue so we can stay focused on our residents’ priorities of public safety, creating new jobs, fixing our streets and providing our kids enhanced recreational options.”

Hundreds of people have purchased property in New Orleans using the online auction process including local residents, business owners and non-profit organizations.

Jacob Peters, Bayou District Foundation’s Development and Project Coordinator, said, “We found the process to be very streamlined from placing the initial deposit to closing on the properties. Bayou District Foundation was able to purchase properties which aided in building out our holistic community revitalization model in the Gentilly neighborhood.”

Deputy Mayor Jeff Hebert, Chief Administrative Officer and Chief Resilience Officer, said, “Improving the appearance of neighborhoods has positive spillover effects such as increasing residents’ sense of safety and confidence in their neighborhoods. When responsible taxpayers purchase these properties, it helps in stabilizing our neighborhoods and our property values. We look forward to continuing these monthly auctions until the City has exhausted its backlog of adjudicated properties.”

The adjudicated properties will be plotted on a map and each property will include a detailed description. Investors will then be able to initiate the legal notification process by placing a $850 deposit on properties they are interested in. The earliest possible auction date will take place in March due to the 120-day pre-sale process. The City will only auction properties where five years have elapsed from the tax sale certificate filing date. The number of properties available for auction in March could change as delinquent property owners pay the taxes and fees due.

A key goal of the adjudicated property auction is to provide title insurance to the winning bidder through US National Title Insurance Company. In order to undertake the legal research to be able to offer an Owner’s Title Insurance Policy, each property has undergone a two-step process:

STEP ONE: THE PRE-SALE RESEARCH & NOTICE PROCESS

When an investor chooses to initiate the auction process on one or more properties, he or she will place a deposit of $850 on each property, which starts the prerequisite legal research and notification process that is required before the auction takes place. The pre-sale process takes approximately 120 days to complete. If the current property owner pays all delinquent taxes and fees during the pre-sale period, the depositor is refunded the deposit and the sale is halted.

STEP TWO: THE AUCTION

If the property is not redeemed by the conclusion of the research and notification period, a US National Title Insurance (USNTI) Company authorized agent reviews the file for total compliance with USNTI’s prescribed underwriting guidelines. Properties that do not meet the guidelines remain in the research and notification processing stage until it is deemed either insurable or uninsurable within those guidelines. In the case of the latter, the property is excluded and the depositor is refunded; for properties that meet the guidelines, the auction date is set and the depositors are notified. When the auction goes live, the depositors and other interested parties place their bids and a regular online auction takes place (bidders do not have to place a deposit in order to bid, but a deposit is required to initiate the research and notification process that must occur before an auction can take place). The minimum starting price for each property includes the cost of the research and legal notifications, closing costs and the cost of the title insurance. Unlike online tax sales, the successful purchaser will own the property free and clear with title insurance guaranteed through US National Title Insurance Company. Losing depositors will be refunded their $850 deposit within a few days.

As properties clear the research and notification processes – and after they have been certified for insurability – they are scheduled for auction on a monthly basis. The City will hold the online auctions for adjudicated properties on the first Wednesday of every month, from 8:00 a.m. to 8:00 p.m., subject to a rolling close in the case of last-minute competitive bidding.

Questions about delinquent taxes and the adjudicated property sale process should be directed to Department of Finance’s Bureau of Treasury by calling toll free 1-888-387-8027.

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About CivicSource

CivicSource is the leading auctioneer of tax-distressed real estate. From tax sales to adjudicated property 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.

http://www.nola.gov/mayor/press-releases/2016/20160929-pr-city-lists-over-170-new-adjudicated-pr/