NEW ORLEANS, Oct. 3, 2013 (GLOBE NEWSWIRE) -- The New Orleans Redevelopment Authority (NORA) has authorized AmeriBid LLC to conduct the next auction sale of 130+/- residential structures and development lots located throughout New Orleans. This auction is a follow up to its recent successful auctions of a combined over 250 properties that took place in October 2012 and March 2013. Properties will sell absolute to the highest bidder regardless of price with NO MINIMUM and NO RESERVE at a one day auction event to be held on Saturday, November 2, 2013. The Auctioneer is AmeriBid LLC with broker Paul A. Lynn, CCIM, Louisiana Licensed Real Estate Broker. The auction will be held at the Mercedes-Benz Superdome, Iberville Club Lounge, Loge level, Gate D (Parking Garage 2). The auction will commence at 11:00am CDT. Registration will begin at 9:00am.
An informational Buyer Seminar will be held on Thursday, October 10, 2013 at the Dryades YMCA at 7:00pm.
"Since our last auction, we are continuing to receive hundreds of inquiries. We are excited to make available the next pool of properties," said Jeff Hebert, NORA's Executive Director. "During the previous auction events, savvy home buyers and investors were able to purchase properties through a competitive bidding process. Buyers felt they were able to obtain properties in various neighborhoods throughout New Orleans at fair prices," stated Paul A. Lynn, CCIM, Louisiana Real Estate Broker.
The properties are being sold on an "AS-IS, WHERE-IS" basis. Winning bidders must agree to rehab or begin construction on the property within 365 days and keep it code compliant. Bidders may use the property for green space if their property is directly adjacent to the property acquired at the auction. Each buyer must close on their purchase within the required timeframe and should receive pre-approval for any necessary financing. There are 50+/- structures that will be open before the auction for inspection. Please visit our website for the specific dates and times. When inspecting the structures, prospects should bring a flashlight and dress appropriately, anticipating a property that will not have any power and could be in poor physical condition.
Closing is required within 30 days after the auction and financing will not be a contingency.
For additional information about this NORA auction and to pre-register to bid, please call 866-575-6131 or visit http://www.ameribid.com/nora.
AmeriBid is the premier global real estate auction leader specializing in the sale of commercial and residential real estate, land properties and other assets for lenders, servicers, receivers, bankruptcy attorneys, estates, private owners, investment companies and local, state and federal government agencies. To be notified of future auctions, sign up for email alerts here.
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