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.

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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.

 

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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.

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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.

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CITY OF NEW ORLEANS TO HOLD ONLINE AUCTION FOR ADJUDICATED PROPERTIES THIS WEDNESDAY

NEW ORLEANS – The City of New Orleans will host its monthly online auction for adjudicated properties on Wednesday, June 1, 2016, from 8 a.m. to 8 p.m., subject to a rolling close in case of last-minute competitive bidding. Nineteen properties are scheduled to be sold throughout the community, where winning bidders will receive full ownership and title insurance for each property. The City reminds residents that there are over 900 properties still available for deposit to begin the research and notification processes before an auction may be scheduled. A list of these properties, as well as the list of properties in the July 6 auction, is available at CivicSource.com, which is also where the online auctions will take place.

A property is adjudicated to the City when its property taxes have not been paid – becoming delinquent – and the City is unable to sell the property at a tax sale. The City will only auction properties where five years have elapsed from the tax sale certificate filing date. Any interested party may bid on a property in the auction, whether or not they placed the initial deposit on the property (depositors who lose at auction will have their deposit refunded within a few days). There are still more than 900 properties awaiting deposits and research.

All owners of adjudicated properties scheduled for auction have received multiple notices of taxes owed with a legally-mandated 60-day repayment grace period, including first-class and certified notices of sales.

Once a property is successfully auctioned and then sold, all adjudicated property owners, as well as those who have a recorded interest in a delinquent property, will forfeit all rights to the property. The number of properties available for auction in June could change as delinquent property owners pay the taxes and fees due.

First Deputy Mayor and Chief Administrative Officer Andy Kopplin said, “These auctions will continue monthly as the City tries to get these properties back into commerce and ensures delinquent property owners get caught up on their taxes. We still have over 900 properties awaiting deposits across the city, so I encourage residents to go to CivicSource.com to check them out. All it takes is one depositor to start the research and notification processes so that we may schedule the property for auction.”

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 minimum bidding price will include the cost of the research and legal notifications, closing costs and the cost of the title insurance, which can range from $3,000 to $7,000 depending on the property. Unlike tax sales, the successful purchaser at an adjudicated property auction will own the property free and clear with title insurance underwritten by WFG National Title Insurance Company.

The City will hold the online auctions for adjudicated properties on the first Wednesday of every month, from 8 a.m. to 8 p.m., subject to a rolling close in the case of last-minute competitive bidding. The next auction is scheduled for Wednesday, July 6, 2016.

A key goal of the adjudicated property auction is to provide title insurance to the winning bidder through WFG 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 $650 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 WFG National Title Insurance Company authorized agent reviews the file for total compliance with WFG’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 WFG National Title Insurance Company. Losing depositors will be refunded their $650 deposit within a few days.

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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https://content.govdelivery.com/accounts/LANOLA/bulletins/14bc0ba

 

City of New Orleans to hold online auction for adjucated properties

WWL.com Reporting

 

The City of New Orleans will host its monthly online auction for adjudicated properties on Wednesday, June 1, 2016, from 8 a.m. to 8 p.m., subject to a rolling close in case of last-minute competitive bidding.

Nineteen properties are scheduled to be sold throughout the community, where winning bidders will receive full ownership and title insurance for each property.

The City reminds residents that there are over 900 properties still available for deposit to begin the research and notification processes before an auction may be scheduled.

A list of these properties, as well as the list of properties in the July 6 auction, is available at CivicSource.com, which is also where the online auctions will take place.

A property is adjudicated to the City when its property taxes have not been paid – becoming delinquent – and the City is unable to sell the property at a tax sale. The City will only auction properties where five years have elapsed from the tax sale certificate filing date. Any interested party may bid on a property in the auction, whether or not they placed the initial deposit on the property (depositors who lose at auction will have their deposit refunded within a few days).

All owners of adjudicated properties scheduled for auction have received multiple notices of taxes owed with a legally-mandated 60-day repayment grace period, including first-class and certified notices of sales.

Once a property is successfully auctioned and then sold, all adjudicated property owners, as well as those who have a recorded interest in a delinquent property, will forfeit all rights to the property. The number of properties available for auction in June could change as delinquent property owners pay the taxes and fees due.

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.

http://www.wwl.com/City-of-New-Orleans-to-hold-online-auction-for-adj/22759628

East Baton Rouge Parish To Hold Online Auction For Tax Adjudicated Property June 1

EBR Logo

News Release

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.

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.

 

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