Wayne County Treasurer Collects Over $4 Million with Online Auction and Announces Second Auction to Sell Remaining Tax-Foreclosed Properties

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Wayne County Tax-Foreclosed September Auction is a Huge Success. Bidding Starts at Just $500 for Thousands of Remaining Properties

“Approximately 300 people participated in the Wayne County tax sale,” said Matt Baker, CEO, Bid4Assets, Inc. “Although the majority of the buyers came from Michigan, we were able to attract participants from all over the world including Hong Kong and Can

Wayne County Treasurer Raymond Wojtowicz today announced that bidding for the September auction of tax-foreclosed properties has successfully concluded with outstanding properties still remaining on the auction block.

Starting October 22nd, bidding for the remaining properties will begin at just $500 per parcel. The online preview of the properties is available on http://www.bid4assets.com/WCTSR31. Online bidding takes place October 22 – 28, 2010 for those individuals who register with Bid4Assets.com and submit a bid deposit by October 15, 2010.

Due to the record number of tax foreclosed properties being auctioned to the public, the Office of the Wayne County Treasurer conducted its first Internet auction through Bid4Assets.com, a leading provider of online real estate auctions. The September online auction successfully generated over $4.1 million in tax revenue for the County an increase of over 600% from last year’s revenue from the live on site auction.

The decision to use the online auction service was a result of the sheer number of properties to be auctioned this year, the demands placed on the Treasurer’s Office staff during this time, the need to provide other essential services to the public and the opportunity to maximize revenue from the sales that will be dispersed to the county’s taxing municipalities.

"We are very pleased with the results of our first Internet auction. Bid4Assets.com's technology, experienced team and ultimately, the results far surpassed our expectations," said Wayne County Treasurer Raymond Wojtowicz.

“Approximately 300 people participated in the Wayne County tax sale,” said Matt Baker, CEO, Bid4Assets, Inc. “Although the majority of the buyers came from Michigan, we were able to attract participants from all over the world including Hong Kong and Canada.”

To participate in the October Auction, all bidders must register with Bid4Assets.com and submit a $1,000.00 deposit and $25.00 processing fee, a total of $1,025.00, in the form of a Cashier’s Check or bank wire in U.S. funds, to Bid4Assets, Inc. by October 15, 2010. Refer to the Bid4Assets.com Web site at http://www.bid4assets.com/wayne for deposit instructions. Potential auction bidders without a computer should contact Bid4Assets at 1-877-4-ASSETS for more information on how to register and bid. Special procedures are in place to accommodate these bidders and will require completion of an Offline Bid Form. No auction activities will take place at the office of the Wayne County Treasurer.

For additional information on the auction and to view the properties, visit: http://www.bid4assets.com/WCTSR31.

The Term and Conditions of Sale and a list of the properties offered are available online at the Wayne County Treasurer’s website: http://www.treasurer.waynecounty.com.

About Bid4Assets, Inc.
Bid4Assets, Inc. (http://www.bid4assets.com) is one of the first to market and most successful online real estate auction sites operating today. Since its inception in 1999, Bid4Assets has sold more than 63,000 properties worldwide. The company auctions distressed assets for financial institutions, private individuals and a growing list of federal and state government agencies. Among them the U.S. Marshals Service, the Department of the Treasury and multiple counties nationwide. Bid4Assets is a privately held company located in Silver Spring, Maryland.

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JENNY LYNCH

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