NEW ORLEANS, Oct. 3, 2012 /PRNewswire/ -- In what promises to be the best buying opportunity of the year, New Orleans Redevelopment Authority (NORA) has directed the sale of 125 +/- homes and development lots located throughout New Orleans. Properties will sell absolute to the highest bidder regardless of price. NO MINIMUM, NO RESERVE, at a one day auction event to be held on Saturday, October 27, 2012. The Auctioneer is National Residential Auctioneers, LLC in conjunction with its AmeriBid LLC division of Tulsa, OK and the broker will be Paul A. Lynn, CCIM, Louisiana Licensed Real Estate Broker. The auction will be held at the Ernest N. Morial Convention Center, Hall E, starting at 1:00 PM. Registration will begin at 11:00 AM.
"We have received hundreds of inquiries since launching our online database of properties. We are excited to make available the first pool of properties that received the most interest," said Jeff Hebert, NORA's Executive Director. "Savvy home buyers and investors will get to establish their own purchase price through the competitive bidding process, for this diverse portfolio of properties," stated Paul A. Lynn, CCIM, Louisiana Real Estate Broker.
The properties are being sold on an "AS-IS, WHERE-IS" basis. Winning bidders will 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.
Closing will be within 30 days after the auction and financing will not be a contingency, so each buyer will need to know they can close on their purchase within the required timeframe.
The improved properties will be open before the auction for inspection on the weekend of October 13th and 14th. Please visit web site for specific days and times. When inspecting the properties, prospects should bring a flashlight and dress appropriately anticipating a property that will not have any power and could be in poor physical condition. A Buyer Auction Seminar will be held on Wednesday, October 10, 2012 at the Dryades YMCA at 7:00 PM.
For additional information about this NORA auction, and pre-registration, please call the sales office at 866-575-6131x907 or visit www.natresauctions.com/nora.
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SOURCE AmeriBid LLC