RIVERSIDE, Calif., April 10, 2024 (GLOBE NEWSWIRE) -- The Riverside County, California Treasurer-Tax Collector’s Office will host its annual tax-defaulted property sale in collaboration with online auction provider Bid4Assets, the leading online marketplace for the sale of distressed government real estate. Online bidding for more than 152 properties will begin April 25, 2024, at 8:00 AM PT and end April 30, 2024, at staggered times.
“Since 2003, Bid4Assets has helped Riverside County return over 7,000 tax-defaulted properties to the tax rolls, generating over $115 million in sales proceeds,” said Bid4Assets President Jesse Loomis. “Riverside County conducts one of the largest tax sales in the country. This sale would consume a tremendous amount of resources as a live event, but is now seamless and efficient for both bidders and county staff.”
Hosting the sale in an online format has numerous benefits, from combating collusion to increasing sales proceeds. Funds raised from the sale support essential county services.
The sale includes a wide range of properties, with minimum bids as low as $2,575 for a .18-acre lot in Blythe to a minimum bid of $236,027 for a 2.16-acre parcel with a commercial structure assessed at over $500,000. All auctions are no reserve, meaning the highest bid at or above the minimum will win the property.
Bidders must register for a free Bid4Assets account and fund a $2,500 deposit plus a $35 processing fee before being eligible to participate in the sale. Deposits are due no later than Monday, April 22, 2024. To view more details about this auction, including a full list of available properties, visit Bid4Assets.com/Riversidecounty.
Riverside County has hosted its tax-defaulted property sales online through Bid4Assets since 2003. For more information about this or other auctions, visit bid4assets.com.
About Bid4Assets
Bid4Assets is one of the world's leading online marketplaces for the sale of distressed real estate property sold by governments, county tax-collectors, financial institutions, and real estate funds. It conducts online tax and foreclosure sales for counties across the United States and has sold more than 100,000 properties grossing more than $1 billion in completed government transactions. Bid4Assets is a wholly owned subsidiary of Liquidity Services.
About Liquidity Services
Liquidity Services (NASDAQ:LQDT) operates the world's largest B2B e-commerce marketplace platform for surplus assets with over $10 billion in completed transactions to more than five million qualified buyers and 15,000 corporate and government sellers worldwide. The company supports its clients' sustainability efforts by helping them extend the life of assets, prevent unnecessary waste and carbon emissions, and reduce the number of products headed to landfills.
Media Contact:
Sean McLaughlin
Bid4Assets Marketing Manager
301-562-3427
sean@bid4assets.com
