When is the auction held? 
All auctions are held on Wednesdays at 10:00 o’clock.  Auction dates are also advertised in the Gonzales Weekly Citizen, the official newspaper of record, thirty (30) days before the auction.

 

How many days does it take before a foreclosed property goes to auction?
It takes a minimum of forty-five (45) days from receipt of the writ to advertisement for the auction. During this time the foreclosure may be stopped for reasons such as bankruptcy or payment of the balance owed.

What are the usual costs of foreclosure?
Sheriff requires a $750.00 ADVANCE DEPOSIT from the party filing the orginal petition. Advertising, appraisal, certificates, curators fees, deed, docket and a three (3) percent sales commission on the sales price to the Office of the Civil Sheriff. All aforementioned fees will be taken from the final bid amount if a third-party sucessfully wins the bid.

 

What is the minimum opening bid?
There are two categories for the minimum opening bid:

When the sale is with appraisal the bid must open at two thirds (2/3) of the appraisal and must satisfy the superior claim. If 2/3 of the appraisal results in an opening bid insufficient to cover the costs and commission, then the opening bid will be raised to reflect those expenses. When the sale is “without” appraisal the bid must cover any superior claims plus the costs and commission

No access is allowed prior to the auction which is a judicial sale.

 

Must I bring the entire cash amount to the auction?
Upon successfully bidding on the property, the winning bidder must immediately provide the Sheriff with the full amount of the purchase price paid in cash, money order, cashiers or certified check or letter of credit from a bank , plus their name, address, and phone number. Note: A Letter of Credit/Guarantee is not a letter showing that you have a mortgage available to you. However, this letter allows the successful bidder three business days in which to make necessary transfers of funds.

 

When will I receive the property deed?
Within fifteen days after the adjudication, the sheriff shall pass an act of sale to the purchaser.

 

What does it mean when a property is sold with appraisal?
Under the law, both the plaintiff (the creditor) and the defendant (the debtor) have the right to appoint an appraiser to value the property which is being foreclosed upon if that right was not previously waived by the defendant. Each party who names an appraiser shall deliver the a appraisal to the the sheriff at least two day, exclusive of holidays, prior to the time of the sale. If the parties do not appoint an appraiser the Sheriff appoints the appraiser.

 

There is no substitute for viewing and appraising property oneself. All appraisals are nothing more than a refection of an individual’s opinion of the value of a property. The parties to the litigation have varying interests with respect to appraisal amounts. Ordinarily, a plaintiff hopes for a low appraisal and a defendant hopes for a high appraisal. Since there are varying interests involved, prospective bidders should be aware that appraisals might reflect those interests.

 

Commissions
Sheriff’s commissions for sales of movables are set at 6% of the sale price. Sheriff’s commissions for sales of immovable property is set at 3% of the sale price.

 

 

 

What are Movables?
Anything that is not Real Estate is considered a movable or chattel property. Examples include but are not limited to automobiles, boats, furniture, jewelry, business inventories, art work and musical instruments.

 

Where is the auction held? 
There are two locations for Sheriff's Sales:In the main hallway of the Donaldsonville Court House at 300 Houmas Street or Gonzales Court House Annex at 828 South Irma Blvd. The sale location for Each property is identified by bold red letters above the property description section of each listing.

 

What is the minimum opening bid?
Two thirds (2/3) of the appraised amount (is required) plus the Sheriff’s commission and costs.

 

How is the appraisal established?
The foreclosing creditor and the defendant both provide an appraisal within three (3) days of the auction. If the amounts differ, the Sheriff provides a referee who establishes the appraisal.

 

What costs are included in the minimum bid?
Advertising, appraisal (is required), certificates, docket fee, locksmith, towing and storage.  The Sheriff’s commission is six percent (6%) of either the sales price or the amount collected by the creditor if the sale is stopped.

 

Can I operate the Moveable before I bid?
No vehicle may be started prior to the auction. Each is sold “As Is Where Is” and all sales are final with no exchanges or refunds.

 

Must I pay for the entire amount of purchase at the auction?
Upon successfully bidding on a movable the bidder must immediately provide the Sheriff with name, address, and phone number of the bidder plus the total amount of sale either in cash, money, cashiers or certified check. As a courtesy the Sheriff may allow the bidder to put down a substantial deposit and pay the balance by four (4) p.m. of the same day. Failure to pay the balance by the end of the day may result in the movable being reset for auction with the first bidder remaining responsible for the original sale price. Should the second auction result in a lesser sales price the first bidder may lose all or part of his deposit and may be used to recover the difference between the two bids should the second auction result in a lower sales price.