Property auction seminar slated

St. Mary Parish Government will hold an educational seminar on investing in tax adjudicated real estate
Online auctions provide winning bidders with full ownership of each property including tide insurance
On Sept. 20, at 6 p.m. St. Mary Parish Government will partner with CivicSource to hold an educational seminar on purchasing tax adjudicated real estate at the Patterson Area Civic Center, 116 Cotten Road, in Patterson.
The event is free and open to the public. Interested citizens will learn how to purchase tax adjudicated real estate with title insurance with an average starting price of $5,000.
According to a news release, St. Mary Parish is taking the necessary steps to sell adjudicated properties through a new online auction process. The properties are those that previously went unsold in a tax sale, and as a result, became adjudicated to the parish. The average starting bid on these properties is $5,000, which includes closing costs and title insurance.
St. Mary Parish is collaborating with CivicSource to auction the tax delinquent properties. The sales will place these properties back on the tax rolls, return them to commerce and generate significant, recurring annual tax revenues to the parish.
St. Mary Parish Chief Administrative Officer Henry C. “Bo” LaGrange said anyone interested in owning property in St. Mary Parish is encouraged to browse the online property inventory and take advantage of this unique opportunity.
There is a complete listing of qualified adjudicated properties on CivicSoure.com where investors nominate properties for auction through a sale initiating deposit of $850. The online auction replaces the traditional adjudication sale held at the courthouse where participants were required to be present during the auction process. By hosting the sale online, bidders who would not normally be able to attend the auction in person are still able to participate from their homes or places of business.
CivicSource has already proven successful in other communities across the state. Since launching last year, the auctions have collected nearly $20 million in unbudgeted revenue through the sale of over 1,000 properties. If you would like to attend the investment seminar for St. Mary Parish tax adjudicated real estate, email your RSVP to RSVP@CvicSurce.com.