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Blighted Property Auction
Thu July 5, 2012
20 Blighted New Orleans Properties to be Auctioned in July
A former hospital is among 20 blighted properties being auctioned this month in New Orleans.
A city news release says the former River of Life hospital was last appraised at $1.4 million, and the minimum bid is $933,333.33. The city is foreclosing because the owner owes more than $320,000 in taxes and liens.
It will be the only property sold July 12. Fifteen will be auctioned off on July 19, and four on July 26.
The starting bid on each is generally two-thirds of the appraised value. Buyers must have 10 percent of the purchase price in cash, money order, cashiers or certified check.