Out of the New Orleans Redevelopment Authority's hefty inventory of 1,500 lots and homes, 130 of them are set to be auctioned off next Saturday. Lots and homes primarily located in St Claude and New Orleans East will take center stage next Saturday, October 25th at the Convention Center. Interested parties can register at Room 293 in Hall H at 9am. After the jump, some essential info before you hit the auction.
A $2,000 deposit or 10% of your bid (whichever is the larger amount) is required for all purchases, which is the only required immediate funds so make sure to bring your check book or big suitcase full of bills. There are also no minimum bids and back taxes and liens will be cancelled upon purchase. Those who've purchased a lot or home next to vacant land can choose to maintain the green space as well. Additionally, there's a five home maximum for all individuals and developers and everything is sold as is, where it is.
Can't attend the 11am auction? You can always bid online at www.HilcoRealEstate.com/Nor.
· NORA to auction off 130 houses and vacant lots Oct. 25 [NOLA.com]
· NORA Fall Auction Brochure [NORA]
· List of homes to be auctioned [Hilco]