Anything that is not real estate is considered a movable or chattel property. Examples are mobile homes, automobiles, boats, furniture.
Where Is The Auction Held?
In the lobby on the first floor of the courthouse at 5800 LA Highway 44 in Convent.
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 opening bid must cover any superior claims plus the costs and commission.
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 (if 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 movable Before I Bid?
No vehicle may be started prior to the auction. Each is sold "As 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 order, cashier's check or certified check. As a courtesy, the Sheriff may allow the bidder to put down a substantial deposit and pay the balance by 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 as it may be used to recover the difference between the two bids should the second auction result in a lower sales price.