Tag: Bid4Assets

Wadena County, Minnesota’s First-Ever Online Tax Sale Drives Increased Bidding and Sales

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Press Release
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updated: Oct 21, 2021

WADENA, Minn., October 21, 2021 (Newswire.com)
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The Wadena County, Minnesota Auditor-Treasurer’s Office made history by hosting the county’s first-ever online tax sale on Bid4Assets.com. The sale provided complete remote bidding capability to all auction participants and generated $422,515 in sales. Of the 41 properties offered in the sale, four were withdrawn by the county and another 29 sold at auction.

“This was a fresh approach to our public auction process for Wadena County and it has produced excellent results,” said Wadena County Auditor-Treasurer Heather Olson. “The new online format increased bidder participation and gave us a strong sale while allowing everyone to bid from their computer or smartphone. Our office is always exploring ways to better serve the community and this online auction pilot has been a success.”

The online tax sale ran from October 4 to October 6 with 76 bidders registered to participate. The vast majority of winning bidders were Minnesota locals. Additional winning bidders came form Arizona, California, New Jersey and North Dakota. Over the course of the tax sale, 435 total bids were placed with winning bids ranging from $350 to $135,100.

“It was a pleasure to work with Wadena County to pilot their first virtual tax sale,” said Bid4Assets’ CEO Jesse Loomis. “Our internet-based platform, along with our large database of real estate buyers and local marketing efforts, attracted a larger audience to the auction at no cost to the county. We hope to see other counties follow Wadena’s lead.”

Bid4Assets hosts virtual public auctions around the country and has upcoming tax foreclosure sales and sheriff’s sales in Pennsylvania, California and Washington.

About Bid4Assets

Bid4Assets (http://www.bid4assets.com) is an online auction site based in Silver Spring, Md. The privately held company auctions distressed real estate for the federal government, county tax-collectors, county sheriff’s offices, financial institutions and real estate funds. Bid4Assets has conducted online public auctions for over 100 counties nationwide. Since its inception in 1999, the company has sold more than 125,000 properties nationwide and grossed over a billion dollars in auction sales.

Media Contact:

Teresa M. Lundy

TML Communications E: Teresa@TMLFirm.com

P: 215-500-8749

Source: Bid4Assets Inc.

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October 21, 2021
King County to Auction 83 Tax-Defaulted Properties Online

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Press Release
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updated: Sep 8, 2021

SEATTLE, September 8, 2021 (Newswire.com)
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The King County, Washington, Treasurer’s Office will host an internet-based tax-defaulted properties sale through online auction site Bid4Assets.com this September.

Online bidding begins Sept. 15 at 9 a.m. Pacific Time and ends Sept. 16 at staggered times. Bidders must register a free Bid4Assets account and fund a single refundable $2,500 deposit before they are able to participate in the sale. Deposits are due Sept. 9. To view more details about this auction, including a full property list, go to www.bid4assets.com/kingsale.

Minimum bids will range from $3,753 to $171,006. All auctions have no reserve price, meaning the highest bid at or above the minimum will win the property.

Benefits of the online format include eliminating risk associated with COVID-19 and exposing available properties to a larger buyer pool, greatly increasing the chance those properties will be returned to the tax rolls.

Bid4Assets was founded in 1999 and has conducted online tax sales for counties across the country, including over half the treasurers in Washington, generating over a billion dollars in county proceeds.

“Bid4Assets has valued our relationship with King County and virtual sales have never been more relevant than they are today,” said Bid4Assets CEO Jesse Loomis. “Our platform was designed to streamline the auction process for bidders and county government while increasing revenues and property sold. Under COVID-19, an additional benefit has been eliminating the need to have a live gathering at the courthouse, which obviously promotes public safety until we’re able to eradicate this pandemic.”

About Bid4Assets

Bid4Assets (http://www.bid4assets.com) is an online auction site based in Silver Spring, Maryland. The privately held company auctions distressed real estate for the federal government, county tax-collectors, financial institutions and real estate funds. Bid4Assets conducts online tax sales for a growing number of counties in Washington, including Clark, Island, King, Mason, Pend Oreille, Pierce, Skagit, Thurston, and Yakima. Since its inception in 1999, the company has sold more than 125,000 properties nationwide and grossed over a billion dollars in auction sales.

Media Contact:
Teresa M. Lundy
TML Communications
E: Teresa@TMLFirm.com
P: 215-500-8749

Source: Bid4Assets Inc.

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September 8, 2021
Franklin County Transitions to Online Sheriff’s Sales September 10

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Press Release
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updated: Aug 24, 2021

CHAMBERSBURG, Pa., August 24, 2021 (Newswire.com)
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Beginning in September, the Franklin County, Pennsylvania Sheriff’s Office will begin conducting its sheriff’s sales online through real estate auction site Bid4Assets.com. The new online format eliminates COVID-19 concerns by allowing all participants to bid remotely using their cell phones, laptops and desktop computers while exposing available auctions to a wider range of buyers, increasing the chances for third-party sales.

“We are moving forward with our sales in such a way that ensures the safety of all participants and creates new opportunities for Franklin County,” said Sheriff Dane M. Anthony “The end result of this transition will be a smoother and safer process for our buyers, attorneys and staff.”

The first sale will be held September 10, with 32 properties scheduled for auction. Bidders must register a free Bid4Assets account and fund a $10,000 deposit in order to participate in the auction. Available auctions can be viewed at any time at www.bid4assets.com/franklinsheriffsale. Offline bid forms can be found in our office, as well as the current auction list. Prospective bidders can also use publicly available computers located at your local library to access the site and view or participate in the auction.

Bid4Assets is currently conducting virtual sheriff’s sales for multiple sheriff offices in Pennsylvania including Montgomery, Monroe, Bucks, Berks, Adams, Beaver and Philadelphia counties. Based on data from similar auctions, the sale is projected to increase participation from bidders, as well as third-party sales. This also results in greater excess proceeds going back to the former homeowners. Bid4Assets’ services come at no cost to Franklin County.

“We’re honored to work with Franklin County to transition their sheriff’s sales online,” said Bid4Assets CEO Jesse Loomis. “Other sheriffs in the Commonwealth have reported numerous benefits, from increased participation to streamlined workflow for staff, to no longer having their sales beholden to the status of COVID-19 or even inclement weather. We’re modernizing a process that went unchanged for hundreds of years, and more sheriffs are signing up every month.”

Bid4Assets was founded in 1999 and conducted the first online tax sale and the first online federal forfeiture auction in the U.S., both in 2000. In October 2020, Bid4Assets conducted the first virtual sheriff’s sale in the Commonwealth with the Montgomery County Sheriff’s Office. Over the last 21 years, Bid4Assets has sold over 80,000 properties for the public sector.

About Bid4Assets

Bid4Assets (http://www.bid4assets.com) is an online auction site based in Silver Spring, Maryland. The privately held company auctions distressed real estate for the federal government, sheriff’s offices, county tax collectors, financial institutions and real estate funds. In Pennsylvania, Bid4Assets conducts online tax or sheriff’s sales for numerous counties, including Berks, Bucks, Montgomery, Monroe, Adams, Beaver and Philadelphia. Since its inception in 1999, the company has sold more than 125,000 properties nationwide and grossed over a billion dollars in auction sales.

Media Contact:

Teresa M. Lundy

TML Communications

E: Teresa@TMLFirm.com

P: 215-500-8749

Source: Bid4Assets Inc.

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August 24, 2021
Colusa County to Host Virtual Tax Sale on Bid4Assets.com

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Press Release
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updated: Jul 30, 2021

COLUSA, Calif., July 30, 2021 (Newswire.com)
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The Colusa County, California Treasurer-Tax Collector’s Office will host an online tax-defaulted properties sale through Bid4Assets.com this June. By moving the sale online, the county is exposing the properties to a wider audience, eliminating COVID-19 related concerns and greatly increasing the chances that the properties offered will be returned to the tax rolls.

“The time has come to streamline this process and ensure our tax-defaulted property sales have the capability to offer remote bidding,” said Colusa County Treasurer-Tax Collector Daniel A. Charter. “Bid4Assets has a long track record of managing sales of this type throughout the state. We are confident that their platform will bring greater efficiency and accessibility to our tax sale.”

Online bidding will begin on Aug. 3, 2021, at 8 a.m. PT and end on Aug.5, 2021, at staggered closing times. There are 13 properties in total listed for sale. Bidders must fund a single $1,500 deposit to participate in this sale. To view details on this sale and a list of currently available auctions, visit www.bid4assets.com/colusa.

Minimum bids range from $1,197 for a vacant lot on 7^th Street in Williams to $24,822 for a commercial property in Maxwell. All auctions are no reserve, meaning the highest bid at or above the minimum will win the property.

“Bid4Assets is thrilled to be working with Colusa County to conduct their tax sale online,” said Bid4Assets’ CEO Jesse Loomis. “We bring a database of over 200,000 California real estate bidders, which is sure to help get these properties sold for maximum proceeds.”

Bid4Assets has conducted online public auctions for over 100 counties nationwide, including 54 counties in California.

About Bid4Assets

Bid4Assets (http://www.bid4assets.com) is an online auction site based in Silver Spring, Maryland. The privately held company auctions distressed real estate for the federal government, county tax-collectors, financial institutions and real estate funds. Bid4Assets is particularly active with county governments in California, where it has conducted tax-defaulted property sales for the counties of Los Angeles, Lake, Riverside and Yolo, to name a few. Since its inception in 1999, the company has sold more than 125,000 properties nationwide and grossed over a billion dollars in auction sales.

Media Contact:
Teresa M. Lundy
TML Communications
Teresa@TMLFirm.com
215-500-8749

Source: Bid4Assets Inc.

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July 30, 2021
Beaver County Transitions to Online Sheriff’s Sales August 9

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Press Release
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updated: Jul 27, 2021

BEAVER, Pa., July 27, 2021 (Newswire.com)
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Beginning in August, the Beaver County, Pennsylvania, Sheriff’s Office will conduct its sheriff’s sales online through real estate auction site Bid4Assets.com. The first sale will be held August 9 with 14 properties currently scheduled for auction. The sale’s new online format eliminates COVID-19 concerns while exposing auctions to a wider range of buyers, allowing participants to bid using their cellphones, laptops and desktops.

“This is a big step forward for our office and based on Bid4Assets’ success working with other counties in the Commonwealth, we believe it will be a positive change for our residents,” said Beaver County Sheriff Tony Guy. “The goal for these sales is to promote active bidding and satisfy the unpaid debt. This can help the previous owner get out of debt and in some cases even claim surplus funds. The online process also frees up staff time and therefore reduces our costs in conducting these auctions.”

Bidders must register a free Bid4Assets account and fund a $5,000 bid deposit to participate in the auction. Available auctions can be viewed at any time at www.bid4assets.com/beaversheriffsales.

Bid4Assets has recently hosted successful online foreclosure sales for multiple sheriff offices in Pennsylvania, including Montgomery, Monroe, Bucks, Berks, Adams and Philadelphia Counties. Based on data from similar auctions, the sale is projected to increase participation from bidders and surplus funds returned to former homeowners. Bid4Assets’ services come at no cost to Beaver County.

“Over the past nine months we have helped transition six Eastern Pennsylvania sheriffs online, and all six have seen an increase by 100% or more in their third-party sales,” said Bid4Assets CEO Jesse Loomis. “Sheriff Guy and his team will be the first to utilize Bid4Assets’ technology and marketing to improve sheriff’s sales in Western Pennsylvania. We expect surrounding counties to follow his example.”

Bid4Assets was founded in 1999 and conducted the first online tax sale and the first online federal forfeiture auction in the U.S., both in 2000. In October 2020, Bid4Assets conducted the first virtual sheriff’s sale in the Commonwealth with the Montgomery County Sheriff’s Office. Over the last 21 years, Bid4Assets has sold over 80,000 properties for the public sector.

About Bid4Assets

Bid4Assets (http://www.bid4assets.com) is an online auction site based in Silver Spring, Maryland. The privately held company auctions distressed real estate for the federal government, sheriff’s offices, county tax collectors, financial institutions and real estate funds. In Pennsylvania, Bid4Assets conducts online tax or sheriff’s sales for numerous counties, including Berks, Bucks, Montgomery, Monroe, Adams, Beaver and Philadelphia. Since its inception in 1999, the company has sold more than 125,000 properties nationwide and grossed over a billion dollars in auction sales.

Media Contact:

Teresa M. Lundy

TML Communications

E: Teresa@TMLFirm.com

P: 215-500-8749

Source: Bid4Assets Inc.

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July 27, 2021
Berks County’s First Online Tax Sale Generates $2,185,200

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Press Release
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updated: Jul 9, 2021

READING, Pa., July 9, 2021 (Newswire.com)
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The Berks County, Pennsylvania Tax Claim Bureau’s Office conducted its first-ever online tax defaulted properties sale with online auction site Bid4Assets.com. The move online allowed all participants to bid remotely and led to a dramatic increase in registration with 163 bidders funding deposits in order to bid in the sale. Over the two-day auction, a whopping 5,044 bids were placed, generating a total of $2,185,200 in proceeds. The proceeds are designated to paying real estate tax balances, municipal and state liens, along with overages being paid to other liens that exist on the properties.

“This sale was a great pilot for our shift to online auctions,” said Berks County Tax Claim Bureau Director Nicole E. Blanding, “The new format increased the efficiency of our sale process and afforded more convenience to our bidders by extending the bid period to twenty-four hours and eliminating the need to alter their schedule to attend a live auction. This was an important step forward for our office to use technology to innovate and we’re glad we made the change.”

Online bidding ran from June 17 to June 18. Of the 116 properties that were listed, 34 were redeemed and 72 were sold, with only 10 properties not returning to the tax rolls. Winning bids ranged from $1,000 to $165,100. Of the sale’s 51 winning bidders, 40 were Pennsylvania residents with the rest in nearby states like New York and New Jersey.

Bid4Assets was founded in 1999 and has sold tax-defaulted property for over 100 counties nationwide. Earlier this year, Bid4Assets was contracted by the Berks County Sheriff’s Office to transition their sheriff’s sales online.

“We’re very pleased to see such strong results from Berks County’s first sale,” said Bid4Assets’ CEO Jesse Loomis. “There are tremendous synergies to working with a group of counties in a particular state. We now have over 17,000 registered real estate bidders in the Commonwealth, so that even if an auction runs for a shorter timeframe, Bid4Assets can market the auction to a large group of targeted, in-state buyers very quickly. Online public auctions are the future in Pennsylvania and sales like this one are a perfect example of why.”

Berks County’s next tax sale will be their Upset Sale, which is anticipated to be held on Bid4Assets from September 16 through September 17.

About Bid4Assets

Bid4Assets (http://www.bid4assets.com) is an online auction site based in Silver Spring, Maryland. The privately held company auctions distressed real estate for the federal government, sheriff’s offices, county tax collectors, financial institutions and real estate funds. In Pennsylvania, Bid4Assets conducts online tax or sheriff’s sales for numerous counties, including Berks, Bucks, Montgomery, Monroe, Adams, and Philadelphia. Since its inception in 1999, the company has sold more than 125,000 properties nationwide and grossed over a billion dollars in auction sales.

Media Contact:

Teresa M. Lundy

TML Communications

E : Teresa@TMLFirm.com

P : 215-500-8749

Source: Bid4Assets Inc.

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July 9, 2021
Berks County to Hold First-Ever Online Auction for Delinquent Real Estate Taxes via Bid4Assets.com

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Press Release
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updated: Jun 10, 2021

READING, Pa., June 10, 2021 (Newswire.com)
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For the first time ever, The Tax Claim Bureau of Berks County, Pennsylvania, will hold one of its delinquent real estate tax sales online via auction website Bid4Assets.com. By moving online, the county is eliminating COVID-19 concerns from the sale while exposing distressed properties to a wider group of buyers and increasing the likelihood those properties will be returned to the tax rolls. Funds generated from the sale support essential county services, which can face shortfalls when taxes go unpaid.

“COVID-19 has opened our eyes to the possibility of transitioning the tax sale process,” said Tax Claim Bureau Director Nicole E. Blanding. “Our office is happy to assist any taxpayer seeking to remove their property from the sale by offering relief options available to them. For those who do not, Bid4Assets has a great track record of auctioning tax-defaulted and foreclosed properties, including Berks County’s sheriff’s sales. Their services increase our office availability to taxpayers, make the process more efficient, and keep bidders safe from COVID-19; all at zero cost to the county.”

Bidding opens on June 17 at 10:00 a.m. ET with 113 properties currently available. Auctions will close at staggered times on June 18 beginning at 10:00 a.m. ET. All auctions will start at a minimum bid of $1,000 and have no reserve price, meaning the highest bid at or above the minimum will win the auction.

“We’re excited to work with Berks County to transition their tax sale online and we are looking forward to a successful first sale,” said Bid4Assets’ CEO Jesse Loomis. “Bid4Assets brings over 17,000 registered real estate bidders who reside in the Commonwealth, which makes for a highly competitive auction. We are pleased to build off the success we have had with the Berks County Sheriff’s Office and now expand our relationship with the Tax Claim Bureau.”

Bidders must register for a free Bid4Assets account and fund a $1,000 deposit to participate in this sale. To view a list of available properties, visit www.bid4Assets.com/berkstaxsale.

About Bid4Assets

Bid4Assets (http://www.bid4assets.com) is an online auction site based in Silver Spring, Maryland. The privately held company auctions distressed real estate for the federal government, county tax collectors, sheriffs, financial institutions and real estate funds. Bid4Assets has conducted online tax sales for over 90 counties and cities nationwide, including counties in California, Pennsylvania, Washington, Nevada, Utah and more. Since its inception in 1999, the company has sold more than 125,000 properties nationwide and grossed over a billion dollars in auction sales.

Media Contact:

Teresa M. Lundy

TML Communications

E : Teresa@TMLFirm.com

P : 215-500-8749

Source: Bid4Assets Inc.

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June 10, 2021
Butte County to Auction 154 Tax-Defaulted Properties Online Through BidAssets.com

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Press Release
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updated: Jun 10, 2021

OROVILLE, Calif., June 10, 2021 (Newswire.com)
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The Butte County Treasurer-Tax Collector’s Office will host a tax-defaulted properties sale beginning June 11, 2021. In an effort to avoid COVID-19 related concerns that may arise at a live auction, the tax-defaulted properties sale will be held through online auction website Bid4Assets.com.

“Our goal is to have every property owner pay their taxes so that we can remove their properties from the auction,” said Troy Kidd, Butte County Treasurer-Tax Collector. “If that doesn’t happen, we need to auction the property. An online tax sale maximizes sales and costs the residents of Butte County absolutely nothing.”

Online bidding begins June 11, 2021, at 8 a.m. PT (11 a.m. ET) and ends June 14. Bidders must create a free Bid4Assets account and fund a $5,000 deposit before they are able to participate in this sale. Deposits are due no later than Tuesday, June 11, 2021. To view more details about this sale including a full property list go to www.bid4assets.com/butte21.

Minimum bids will range from $1,745 to over $105,000. All auctions are no reserve, meaning the highest bid at or above the minimum bid will win the auction. This will be Butte County’s first tax sale since 2018.

“We look forward to working with Butte County to take their tax sale online,” said Jesse Loomis, Bid4Assets’ CEO. “Counties all over the country are seeing the benefits of moving public auctions online. COVID-19 may be the impetus for change, but online tax sales will become the new normal beyond the pandemic.”

About Bid4Assets

Bid4Assets (http://www.bid4assets.com) is an online auction site based in Silver Spring, Maryland. The privately held company auctions distressed real estate for the federal government, county tax-collectors, financial institutions and real estate funds. Bid4Assets is particularly active with county governments in California, where it has conducted tax-defaulted property sales for the counties of Monterey, Humboldt, Yolo, Napa, Riverside, Imperial, Siskiyou, Fresno, Kings, Tulare, Santa Cruz and Los Angeles, to name a few. Since its inception in 1999, the company has sold more than 125,000 properties nationwide and grossed over a billion dollars in auction sales.

Media Contact:
Sean McLaughlin
sean@bid4assets.com
301-562-3427

Source: Bid4Assets Inc.

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June 10, 2021
Salt Lake County, Utah, Transitions Tax Sales Online via Bid4Assets.com

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Press Release
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updated: May 7, 2021

SALT LAKE CITY, May 7, 2021 (Newswire.com)
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The Salt Lake County Auditor’s Office will host its first-ever online tax-defaulted properties sale with auction site Bid4Assets.com. The county is required by state law to hold its tax sale annually. Transitioning the sale online will allow the Auditor’s Office to conduct it safely, removing all COVID-19 associated concerns by allowing participants to bid from their laptops, cell phones and desktops.

“Our office is on standby to assist anyone seeking to redeem their property,” said Scott Tingley, Salt Lake County Auditor. “For the properties that do not redeem, Bid4Assets brings online capabilities, a wider potential sales audience and experience in piloting programs like this for other counties in Utah. We are confident the move to online tax sales will be a positive step forward for Salt Lake County.”

Online bidding on the properties available will take place May 27, beginning at 8:30 a.m. MT. Auctions will close at staggered times starting at 10:00 a.m. MT. All auctions will be “no reserve” meaning the highest bid at or above the minimum will win the property. Minimum bids will vary greatly ranging from $27 to $130,301.

“We’re looking forward to conducting Salt Lake County’s first online auction,” said Jesse Loomis, Bid4Assets’ CEO. “We believe many other counties will follow Salt Lake County’s innovations and by next year this will be how most of the state’s tax sales are conducted. The service brings convenience to bidders, more revenues to counties and our services come at no cost to the county, guaranteed.”

Bidders must register a free Bid4Assets account and fund a $500 refundable deposit plus a $35 processing fee to participate in this sale. Deposits are due May 21. To view a list of available properties and additional sale details, visit www.bid4assets.com/saltlake21.

About Bid4Assets

Bid4Assets (http://www.bid4assets.com) is an online auction site based in Silver Spring, Md. The privately held company auctions distressed real estate for the federal government, county tax collectors, county sheriff offices, financial institutions and real estate funds. Bid4Assets has conducted online public auctions for over 100 counties nationwide. Since its inception in 1999, the company has sold more than 125,000 properties nationwide and grossed over a billion dollars in auction sales.

Media Contact:

Jon Amar

jon@onwordstrategic.com

925-270-6511

Source: Bid4Assets Inc.

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May 7, 2021
Tehama County to Auction 100 Tax-Defaulted Properties Online Through Bid4Assets.com

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Press Release
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updated: Apr 30, 2021

RED BLUFF, Calif., April 30, 2021 (Newswire.com)
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The Tehama County, California, Treasurer-Tax Collector’s Office will host an internet-based tax-defaulted properties sale through online auction site Bid4Assets.com this May. The online nature of the sale eliminates the risk associated with COVID-19 while exposing available properties to a national buyer pool and greatly increasing the chance those properties will be returned to the tax rolls.

“The ability to conduct our tax sales online has been a huge advantage in years past and has dramatically increased bidding, which means more properties will return to the tax rolls,” said Dana Hollmer, Tehama County Treasurer-Tax Collector.

Online bidding begins May 14, 2021, at 8 a.m. PT (11 a.m. ET) and ends May 17 at staggered times with over 100 properties available. Bidders must register a free Bid4Assets account and fund a $2,500 deposit before they are able to participate in this sale. Deposits are due no later than Monday, May 10, 2021. To view more details about this auction, including a full property list, go to www.bid4assets.com/tehama21.

Minimum bids will range from $900 to $21,000. All auctions are no-reserve, meaning the highest bid at or above the minimum will win the property. Tehama County’s 2020 sale was postponed in response to COVID-19.

“We’ve enjoyed a great relationship working with Tehama County,” said Jesse Loomis, Bid4Assets’ CEO. “This year, the sale is not just about increasing revenues and efficiencies for the county, it’s about keeping bidders safe amidst a pandemic. With 100 properties, there are some great opportunities for real estate buyers to acquire property in this rapidly growing county.”

About Bid4Assets

Bid4Assets (http://www.bid4assets.com) is an online auction site based in Silver Spring, Maryland. The privately held company auctions distressed real estate for the federal government, county tax-collectors, financial institutions and real estate funds. Bid4Assets is particularly active with county governments in California, where it has conducted tax-defaulted property sales for the counties of Monterey, Humboldt, Yolo, Napa, Riverside, Imperial, Siskiyou, Fresno, Kings, Tulare, Santa Cruz and Los Angeles, to name a few. Since its inception in 1999, the company has sold more than 125,000 properties nationwide and grossed over a billion dollars in auction sales.

Media Contact:
Jon Amar
jon@onwordstrategic.com
925-270-6511

Source: Bid4Assets Inc.

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April 30, 2021
Nye County Raises Over $1.8 Million in First-Ever Online Tax Sale

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Press Release
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updated: Jul 6, 2020

TONOPAH, Nev., July 6, 2020 (Newswire.com)
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The Nye County, Nevada, Treasurer’s Office hosted the county’s first-ever online tax-defaulted property sale auction with website Bid4Assets.com from May 31 to June 3. Of the 567 properties that were offered at auction, 366 sold and 53 properties were withdrawn from the sale at the request of the Treasurer’s office. The online nature of Bid4Assets’ platform eliminated all COVID-19 concerns surrounding the tax sale, allowing auction participants to bid using cell phones, laptops and computers from the safety of their home.

“Our tax sale with Bid4Assets was the most successful auction Nye County has had,” said John Prudhont, Nye County Treasurer. “The savings to Nye County taxpayers, resulting from utilizing Bid4Assets.com’s online platform, were substantial. For past live auctions, we needed to close our offices to the public, pay for travel, lodging and meals for Treasurer Department staff traveling from out of town. Additional savings resulted from not requiring two Sheriff Deputies to provide security as well as assistance from county administration and technology staff. With Bid4Assets.com, we didn’t need to incur those additional costs and Nye County taxpayers also benefited from the nationwide reach and participation of bidders where, in the past, few bidders participated from other states.”

In total, 342 bidders from 21 states, including California, New York, Texas and Florida, participated in Nye County’s tax sale. Winning bids ranged from $784 to $140,000. The sale generated $1,803,522.20 in proceeds for the county.

“We’re very encouraged to see such a strong rate of participation for Nye County’s first online tax sale considering the current climate of COVID-19,” said Jesse Loomis, Bid4Assets’ CEO. “Bid4Assets’ services were intended to help counties attract a larger bidder pool and streamline the auction process but, since the outbreak, a larger focus has been placed on keeping the tax sale process operating without creating a public health risk. Many counties are seeing an increased need for public services while at the same time facing a decrease in revenues. Our current focus is helping counties raise much-needed revenues.”

Bid4Assets was founded in 1999 and conducted the first online tax sale in 2000. Over the last 20 years, it has conducted hundreds of tax sales around the country and generated hundreds of millions of dollars in proceeds for counties.

About Bid4Assets

Bid4Assets (http://www.bid4assets.com) is an online auction site based in Silver Spring, Maryland. The privately held company auctions distressed real estate for the federal government, county tax-collectors, financial institutions and real estate funds. Bid4Assets is the leading provider of online tax sales in Nevada. Since its inception in 1999, the company has sold more than 125,000 properties nationwide and grossed over a billion dollars in auction sales.

Media Contact:
Jon Amar
jon@onwordstrategic.com
925-270-6511

Source: Bid4Assets, Inc.

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July 6, 2020