New Orleans, La. - More than 130 properties across the city will soon be on the auction block. The New Orleans Redevelopment Authority (NORA) has partnered with Ameribid, LLC to auction the 130+ properties on Saturday, November 2, 2013.
Properties will sell absolute to the highest bidder regardless of price. There will be no minimum and no reserve. Interested bidders are encouraged to visit www.ameribid.com/NORA for property information and pre-registration instructions.
Properties include single family homes, doubles and vacant lots. The properties are located in New Orleans East, Holy Cross, Gentilly, Seventh Ward, St. Roch and Lakeview neighborhoods. The auction includes a number of former Road Home and NORA-owned properties in Orleans Parish. The single day, live auction is intended, according to NORA, to complement continuing neighborhood recovery and to respect the uniqueness of New Orleans' neighborhoods
Winning bidders will agree to rehab or complete construction on the property within 12 months (365 days) and keep it code compliant and free from blight. Bidders may also utilize the property for green space if they are a directly adjacent property owners. All properties are sold in "As-Is, Where-Is" condition.
A non-refundable minimum deposit of $2,000.00 or 10% of the winning bid price will be required as the Minimum Required Deposit. The deposit is due the day of the auction and must be in the form of cashier's check for certified funds. There is no cost to bid and no Buyer's Premium. There will be a Buyer's Seminar on Thursday, October 10, 2013 7 p.m. at Dryades YMCA, 2220 Oretha Castle Haley Blvd. Registration begins at 6:30 p.m.
The auction will be held on Saturday, November 2, 2013 at a new venue, the Mercedes-Benz Superdome, Iberville Club Lounge, Loge Level. To access auction venue, access is off of Girod St., and Dave Dixon Drive (parking is available the day of the auction in Garage Parking lot 2 only, at a cost of $10.00 per vehicle). Access to the auction is ONLY available through Gate D.
All bags and persons are subject to Mercedes-Benz Superdome access and security procedures. Attendees will then proceed up the Gate D ramp to enter the auction registration area. Anyone needing special access assistance will be directed to nearby elevators. Registration begins at 9:00 AM. The auction will begin at 11:00 AM.
Due to the extensive portfolio of this unique one-day auction event, it is difficult to determine the total time required to complete the auction. If you are a successful bidder, anticipate approximately an additional hour for completion of the contract process.
There will be a Buyer's Seminar on Thursday, October 10, 2013 7 p.m. at Dryades YMCA, 2220 Oretha Castle Haley Blvd. Registration begins at 6:30 p.m. There are 50 ± structures that will be open for inspection prior to the auction on Saturday, October 12 and Sunday, October 13, 2013. Please visit www.ameribid.com/NORA for exact the time and instructions.
"We have received hundreds of inquiries since launching our online database of properties. We are excited to make available this next pool of properties," said Jeff Hebert, NORA's Executive Director.