Aug

AUCTION! Buy History You Can Live In Sept. 10, 2011

New Orleans ROAD HOME & NORA REALM Property Auction

No Minimum! No Reserve!

100+ Properties located in 25 Neighborhoods in New Orleans including Audubon, Central City Mid-City, Lakeshore/Lake Vista, Lakeview, West End, Lower Garden District, Bayou St. John, Fairgrounds plus many others!

Absolute! Sells to the Highest Bidder!

Bidding to Start at $1,000 per Property

The New Orleans Redevelopment Authority (NORA), in its effort to catalyze neighborhood redevelopment, will auction a number of Road Home and NORA-owned properties in Orleans Parish. The single day, live auction is intended to complement continuing neighborhood recovery and to respect the uniqueness of New Orleans’ neighborhoods.

The properties included in the auction are generally located in neighborhoods that have seen strong redevelopment following the storm and have few Road Home properties (apx. 1-10). The sale of the remaining Road Home properties in these neighborhoods will strengthen an already strong private real estate market.

Alternatively neighborhoods that saw a significant number of homes sold to the Road Home benefit from NORA’s other disposition programs including Phase II sales and Requests for Proposals (RFPs). Such programs typically require purchasers to build at a large scale or for owner occupancy. These programs, developed in partnership with neighborhood organizations, aim to stabilize impacted communities and to help rebuild neighborhood real estate markets.

Additional properties with unusual characteristics and in high demand for redevelopment are also included in the auction. For a complete list of properties of historic significance, see “Property Auction List” and “Catalogs” for details.

All properties were screened for Lot Next Door eligibility and offered to the Lot Next Door eligible neighbors where they exist. Additional notification will be provided to Lot Next Door eligible neighbors who previously declined the opportunity to purchase a property included in the auction.

Bidding will start at $1,000 on each property and sells to the highest bidder regardless of price. Winning bidders will agree to rehab or begin construction on the property within 12 months and keep it free from blight. Bidders may also utilize the property for green space if they are a directly adjacent property owner.

Auction Location:

University of New Orleans

Human Performance Center

2000 Lakeshore Dr., New Orleans, LA 70148

September 10, 2011 – 10:00 a.m.

Registration will be from 8 – 10 a.m. the day of the auction for those intending to bid.

The auction is open to the public with no restrictions. Anyone can attend and bid on the properties.

“As is, where is”, all cash in 30 days after all conditions to closing are met. Seller will pay all closing costs on Road Home properties except those associated with financing. Seller will provide insurable title and environmental disclosures. Buyer will pay all closing costs on NORA REALM properties. 10% down auction day. Bidders must bring $500 in certifiedfunds, payable to yourself, to the auction. This $500 will be part of the 10% deposit that is due if, and only if, the bidder becomes the winning bidder at the auction. There is no buyer’s premium and there is no cost to bid.

If you would like to Pre-Register for the auction you may do so by clicking below on the “Click Here to Pre-Register to Bid” link below or clicking the”Pre-Register to Bid” button to the right of this page, filling out the required information and clicking “Submit Registration”. You will still need to get a bid number at registration in order to bid but, this will speed up the registration process. Please print a copy of your registration and bring it with you to the auction. Pre-Registration is not required and there is no obligation.

Click Here to Pre-Register to Bid

No Buyer’s Premium!

To view the properties please click on the tab to the right in the grey box: “Documents” for a printable list of properties and Terms or “Catalogs” for property specific information; then click on ”New Orleans ROAD HOME Properties” or “REALM Properties”. A pop up will apprear with a picture and a brief summary of each property in list form. In order to see each property’s information please click on the property’s address which is in red. Follow the same steps once you are in the property of your choice in the grey navigation box which will provide you with the documents associated with that property.