HILCO REAL ESTATE, LLC Announces No Minimum, No Reserve Auction of 130 +/- Homes and Lots Throughout New Orleans on Behalf of...
February 25 2015 - 4:15PM
As a follow up to previous successful real estate auctions, New
Orleans Redevelopment Authority (NORA) has directed the next
auction sale of an additional 130± homes and development lots
located throughout New Orleans. Properties will sell to the highest
bidder regardless of price with
NO MINIMUM and
NO RESERVE, at a one day auction event to be held
on Saturday, March 28, 2015. The Auctioneer is Northbrook, IL based
Hilco Real Estate, LLC, in conjunction with broker Paul A. Lynn,
CCIM, Louisiana Licensed Real Estate Broker and Steven Mathis,
Louisiana Licensed Auctioneer. The auction will be held at The New
Orleans Ernest N. Morial Convention Center, Hall H Room 293.
Parking is available across the street. The auction will commence
at 11:00 AM. Registration will begin at 8:30 AM. "Since our last
auctions, we are continuing to receive hundreds of inquiries. We
are excited to make available this next pool of properties," said
Jeff Hebert, NORA's Executive Director. "During the previous
auction events, savvy home buyers and investors were able to
establish their own purchase price through the competitive bidding
process. Buyers felt they were able to obtain properties in various
neighborhoods throughout New Orleans at fair prices," 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 complete rehab or construction on the property within
365 days from the date of closing 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. There are 25± improved properties (structures) that will
be open before the auction for inspection on Saturday, March
14th. 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.
Please visit www.hilcorealestate.com/NORA for specific times.
Closing is required within 30 calendar days after the
auction and financing will not be a contingency, so buyers will
need to know they can close on their purchase within the required
timeframe and receive pre-approval for their own personal
financing.
Buyers must obtain and maintain Flood
Insurance for any structures, as a condition of
closing. Additionally, there will be a Buyers'
Auction Seminar on Wednesday, March 11, 2015 7:00 PM at the Dryades
YMCA 2220 Oretha Castle Haley Blvd. Registration begins at 6:30 PM.
For more information about this NORA auction and to pre-register,
please call 504-233-0063 or visit www.hilcorealestate.com/NORA.
About Hilco Real Estate:
Hilco Real Estate is headquartered in Northbrook, IL, and is a
member of the Hilco Global family of companies. Hilco Global is a
privately-held, diversified financial services company that is a
premier global real estate services organization providing
Advisory, Monetization and Valuation services for corporations,
lenders, servicers, receivers, bankruptcy attorneys, estates,
private owners, investment companies as well as local, state and
federal government agencies. Social Media: Follow
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CONTACT: Gary Epstein
Chief Marketing Officer
Hilco Global
847.418.2712
gepstein@hilcoglobal.com