“Bid4Assets has continued to successfully sell tax-defaulted properties for a large section of California counties and we are growing our presence in the state by adding new counties.
Silver Spring, MD (PRWEB) April 26, 2012
May is busy season for the online auction company Bid4Assets, Inc. With over a dozen counties holding their online tax sales with Bid4Assets, the company will host auctions for several thousand homes, commercial properties and land parcels.
On schedule for online tax sales May 5 - 8 are Lassen, Modoc, Plumas, Solano, Tuolumne, Sierra and Siskiyou counties. Del Norte, Lake and San Luis Obispo counties will have their online tax sales May 12 – 15. San Bernardino County will have its auction May 12 – 18. San Diego County will hold its auction May 19 – 22. And finally, Mendocino County will have its auction May 26 – 29. For more information on each tax sale and updates to the tax sale calendar, click here.
Earlier in the year, Bid4Assets was the auction platform for two new California counties, Yuba County and Yolo County. Both counties had successfully transitioned their on-the-ground tax sales online and were able to sell $110K in back taxes for Yuba County and $312K in back taxes for Yolo County. “This is the first time we went through an online tax sale. It was painless and the most efficient, effective way to offer our properties to the broadest possible market. I am extremely satisfied and remain pleased out of how it turned out.” said Patricia L. Wright, Assistant Auditor-Controller for Yolo County, CA.
In an online auction of a tax-defaulted property, the minimum bid is set at the amount of taxes, penalties, and other costs owed to the County, and the highest bid received is the winner of the auction. “Bid4Assets has continued to successfully sell tax-defaulted properties for a large section of California counties and we are growing our presence in the state by adding new counties. By bringing a tax sale online rather than holding the traditional “on the court house steps” auction, a county is able to save in administrative costs and get more properties back on the tax rolls because the auctions are now exposed to a world-wide audience.” said Will Scott, Senior Director of Government Services for Bid4Assets.
About Bid4Assets, Inc.
Bid4Assets, Inc. (http://www.bid4assets.com) is one of the first to market and most successful online real estate auction websites. The company auctions distressed assets for financial institutions, private individuals and multiple federal and state government agencies. Since its inception in 1999, the company has sold over 82,000 properties nationwide through online real estate auctions.