Patterson City Government to Conduct Online Tax Title Sale
PATTERSON, LA – APRIL 25, 2011 – From 8am CST May 3rd through 8pm May 5th, 2011, the Patterson City Government will host a Tax Title Sale online at www.CivicSource.com. By hosting the sale online, bidders that would not normally be able to attend the auction in person are still able to participate. The increased participation leads to higher collection of local tax revenues.
Currently over 59 properties are slated to go to sale ranging in price from $200 to $11,000. This sale is open to the general public. Free registration and a list of available properties are now available at www.civicsource.com.
A tax title sale is the sale of properties that have delinquent taxes due. These properties are sold to the public for the amount of the delinquent taxes due, plus any accrued interest, penalties, costs and other statutory impositions. The Tax Title Sale is a low-bid wins style auction in which the property is sold to the purchaser willing to bid on the least percent ownership interest in the property.
Winning bidders of the tax sale are expected to pay for their purchases within 72 hours of the close of the auction. Payment must be made in one installment and all sales are final.
These auctions and all future tax sales can be viewed on the CivicSource.com website. Using the convenient search options, bidders can set the parameters for any property that falls within their interests and budget. More and more investors are becoming aware of the excellent potential of purchasing tax titles at government auctions. With the creation of online venues like CivicSource Auctioneer, it is becoming even more popular because it opens up the auction to investors all across the country. If you are looking for somewhere to participate in online tax sales, visit www.civicsource.com, the Property Auction Authority.
CivicSource Auctioneer®, a product of Archon Information Systems, is an online tax sale application, which allows municipalities to effortlessly host a tax sale via the Internet. With CivicSource Auctioneer®, every aspect of the online tax sale, including registration, browsing, bidding and payment processing, is electronically managed and implemented to meet the specific legal requirements set forth by local legislation. For more information call (888) 387-8033 or visit www.civicsource.com.