Sheriff Craig Webre announced the Lafourche Parish Sheriff’s Office will host its first-ever online Sheriff’s Sale on September 25, 2024. The auction will be facilitated through the Bid4Assets website. Prospective bidders must register a free Bid4Assets account and fund a $500 deposit to participate in the sale. A registration link and list of properties can be found at LPSO.net/SheriffSales.
“Foreclosure auctions are one of the responsibilities of a Louisiana sheriff, and we hope this transition to an online auction will help improve sales resulting in helping homeowners get out of debt,” said Sheriff Webre “An online auction will expand the bidder pool, helping to increase sales, which makes it more likely for property owners to keep some of the equity in their homes. It also helps lenders use their capital on home and business loans in our community.”
Sheriff’s sales arise from defaulted debt on real property or movables, often a mortgage on a resident’s home. If the auction results in all debts and fees being satisfied and there are excess proceeds left over, these funds go to the property owner. Research supports that online sales increase participation and sales and as a result often generate higher excess proceeds for homeowners.
In 2023, a new law in Louisiana allowed sheriffs to conduct foreclosure auctions online. Tangipahoa and Ouachita Parish are among other parishes that have moved these sales online.
ABOUT BID4ASSETS:
Bid4Assets is one of the world’s leading online marketplaces for the sale of distressed real estate property sold by governments, county tax collectors, financial institutions, and real estate funds. Founded in 1999, it conducts online tax and foreclosure sales for counties across the United States and has sold more than 100,000 properties grossing more than $1 billion in completed government transactions. They have been auctioning federally forfeited and seized properties for agencies like the U.S. Marshals and Department of Treasury for over 20 years. Its primary focus is helping county and parish governments to conduct tax and judicial foreclosure auctions online.