SALT LAKE CITY, May 7, 2021 (Newswire.com) - 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.
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.
Source: Bid4Assets Inc.