Bid4Assets to Host Online Tax-Defaulted Property Auction for the County of Los Angeles Treasurer and Tax Collector's Office
The online sale will open April 23, 2022, with over 1,148 properties
LOS ANGELES, March 31, 2022 (Newswire.com) - Online auction site Bid4Assets will host a tax-defaulted properties sale for the County of Los Angeles Treasurer and Tax Collector's office.
Auctions will open on April 23 and close on April 26, 2022. A free Bid4Assets account is required to participate in the sale. Bidders must submit a $5,000 deposit to qualify for bidding. Deposits are due by April 19. You can view a list of properties available in the sale at bid4assets.com/LA.
This will be Los Angeles County's first tax sale since 2019, as sales were temporarily postponed due to COVID-19. The County has regularly followed up its annual live sale with an online auction on Bid4Assets since 2014. This will be Los Angeles County's first time conducting its tax sale entirely online. Bid4Assets has hosted tax sales for nearly all of the counties in California since pioneering the first virtual tax sale in 2000.
"We're honored to be entering a new phase of online auctions with Los Angeles County," said Bid4Assets President Jesse Loomis. "Tax collectors around the U.S. have replicated the model we built with counties like Los Angeles."
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.