CivicSource.com is designed to electronically manage every aspect of the auction which makes the whole process run more efficiently.
New Orleans, LA (Vocus) July 20, 2010
A recent tax property sale in Iberia Parish illustrated the benefits of live online property and tax auctions to the community as well as investors. Archon Information Systems is set to post auctions across the State of Louisiana via the CivicSource Auctioneer platform.
With a large number of tax delinquent and foreclosed homes, communities previously resorted to auctions on the “courthouse steps.” Archon Information Systems online auction platform enables Louisiana's parishes to increase efficiency and revenue, while adding a layer of transparency that only online systems can efficiently provide.
"Since 2007, we have given the parish governments across Louisiana an opportunity to recover delinquent taxes through an easy online auction site,” says Archon Chief Operations Officer, Beau L. Button. “Iberia Parish saw just what we could do with their auction this past month."
Iberia Parish auction by the numbers:
- 210 properties sold at a total of $133,267.41
- 23 properties adjudicated at a total of $8,385.59
- Total of 233 properties at a total of $141,653.00
- Properties which received no bids can be put up again at another auction for a reduced price.
Not only does Archon’s CivicSource Auctioneer provide a venue for the event, it also collects delinquent funds from homeowners whose properties are set to go on the auction block. Before this past auction, CivicSource collected $1,196,691.84. The parish receives the taxes and the homeowners keep their homes!
The overall benefit of this service is that the government can recoup taxes. In the case of foreclosed properties, it puts them in the hands of investors who will revitalize the property while also offering individuals the opportunity to afford a home at a fraction of the cost.
Because Archon’s CivicSource Auctioneer is a live online auction and registration is free, the program also opens up inventory to far more possible investors than the traditional “courthouse steps” auction and newspaper listings. CivicSource.com is easy to use and navigate for any real estate investor. Thousands of investors can view and bid on properties, increasing the chances that they will be sold and their taxes recovered.
“Our goal is to make it easier for local governments to list and operate their tax lien auctions,” says Button. “CivicSource.com is designed to electronically manage every aspect of the auction which makes the whole process run more efficiently.”
Archon Information Systems and Civic Source Auctioneer have revolutionized this age-old process. By integrating advanced technology into governmental processes, CivicSource helps local municipalities and state governments become more efficient at no cost to the taxpayer.
CivicSource has many auctions already scheduled and the open registration process makes it easy for investors to get involved. Register to view and bid on tax lien properties for sale on the CivicSource website: http://www.civicsource.com
Jeanerette, New Orleans, and Patterson are the next cities in Louisiana that will hold auctions on CivicSource.com and are being conducted September 14, 15, and 16, 2010.
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