Must I bring the entire cash amount to the auction? All property is sold "As Is Where Is" and the deeds are not warranted. Therefore it is only then that access to the property is legally permissible. The sale is not officially completed until the entire purchase price is paid in full. No access is allowed prior to the auction. Usually this is a relatively low amount between two and five thousand dollars. When the sale is "without" appraisal the bid must cover any superior claims plus the costs and commission.If 2/3 of the appraisal results in an opening bid insufficient to cover the costs and commission, then the opening bid will be raised to reflect those expenses. When the sale is with appraisal the bid must open at two thirds (2/3) of the appraisal and must satisfy any superior claims.There are two categories for the minimum opening bid: A successful bidder only pays the amount of his or her bid. These costs and fees are not paid by a successful bidder. ![]() During this time the foreclosure may be stopped for reasons such as bankruptcy or payment of the balance owed.Īdvertising, appraisals, mortgage, conveyance and tax certificates, curators fees, deed, docket and a three (3) percent sales commission on the sales price to the Office of the Sheriff. It takes a minimum of forty-five (45) days from receipt of the writ to advertisement for the auction. How many days does it take before a foreclosed property goes to auction? Upcoming lists of properties for sale are available in the Real Estate Section of the Sheriff’s Office three (3) weeks prior to the actual auction of a piece of property and on this website under the heading, "Real Estate Sales Lists." Properties are also advertised in a second publication like The Louisiana Weekly newspaper to run concurrently with those ads run in the Times Picayune. Each property and its auction date is advertised in the Times Picayune, the official newspaper of record, thirty (30) days before the auction and again on Monday, the week of the auction. In the lobby of the Civil District Courthouse located at 421 Loyola Avenue at Poydras Street.Įvery Thursday at noon unless otherwise advertised. It is land with its improvements and the right to own and use it. The Sheriff Sale Information Sheet is now available for download. ![]() Please choose the appropriate format below.
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