Bid4Assets to Auction Over 590 Tax-Defaulted Properties for Riverside County
Mix of properties assessed at over $42 million with minimum bids as low as $100.00
RIVERSIDE, Calif., March 29, 2022 (Newswire.com) - This April, the Riverside County, California, Treasurer-Tax Collector's Office will host its latest online tax-defaulted property sale in collaboration with its long-time auction vendor Bid4Assets. Hosting the sale in an online format ensures it remains secure against external factors, such as COVID-19, while exposing available properties to a large statewide pool of buyers. Funds raised from the sale support essential county services.
Online bidding will begin April 21, 2022, at 8:00 a.m. PT (11:00 a.m. ET) and ends on April 26, 2022, at staggered times with over 590 properties available. Bidders must register for a free Bid4Assets account and fund a $2,500 deposit (plus a $35 processing fee) before they are able to participate in this sale. Deposits are due no later than Monday, April 18, 2022. To view more details about this auction, including a full list of available properties, visit Bid4Assets.com/Riversidecounty.
Minimum bids will vary greatly in this sale with over 150 properties starting at just $100 while a 7.06-acre land parcel in Palm Desert assessed at nearly $808,976 starts at $61,544. All auctions are no reserve, meaning the highest bid at or above the minimum will win the property. Riverside County has hosted its tax-defaulted property sale online through Bid4Assets since 2006.
"We are always honored to work with Riverside County to conduct their tax sale online," said Bid4Assets President Jesse Loomis. "Our tax sale model has become the standard in California over the years and has been proven to reduce costs, increase participation and sales and ultimately drive more proceeds for the local government funds. Riverside County's tax sale is consistently one of the most anticipated events of the year among our buyers."
Bid4Assets (http://www.bid4assets.com) is an online marketplace based in Silver Spring, Md., that 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, Santa Barbara, Riverside, Imperial, Fresno, and Los Angeles, to name a few. Since its inception in 1999, the company has sold more than 100,000 properties nationwide and grossed over a billion dollars in sales. Bid4Assets is a wholly owned subsidiary of Liquidity Services, Inc.
About Liquidity Services, Inc.
Liquidity Services (NASDAQ: LQDT) operates the world's largest B2B e-commerce marketplace platform for surplus assets, with over $9 billion of completed transactions to more than 4.7 million qualified buyers worldwide and 15,000 corporate and government sellers. It supports its clients' sustainability efforts by helping them extend the life of assets, prevent unnecessary waste and carbon emissions, and defer products from landfills.
Teresa M. Lundy
Source: Bid4Assets Inc.