RIVERSIDE, Calif., April 22, 2021 (Newswire.com) – Online auction site Bid4Assets.com will host an internet-based tax sale for the Riverside County Treasurer-Tax Collector’s Office. Over 800 tax-defaulted properties will be available in the sale, as the Treasurer-Tax Collector seeks to recoup taxes owed and raise funds for essential county services. By hosting the sale online, the county ensures their sale remains secure against external factors such as COVID-19 while exposing it to a nationwide buyer pool and greatly increasing the chance the properties will be returned to the tax rolls.
Online bidding begins May 13, 2021, at 8:00 a.m. PT (11:00 a.m. ET) and ends on May 18, 2021, at staggered times with over 800 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, May 10, 2021. To view more details about this auction, including a full list of available properties, visit www.bid4assets.com/riverside21.
Minimum bids will vary greatly in this sale, with over 173 properties starting at just $100 while a 10.04-acre land parcel in Menifee assessed at nearly $842,000 starts at $284,082. Three hundred of the available auctions will have their minimum bids lowered to $100 on May 14, 2021, one day into the sale. All auctions are no reserve, meaning the highest bid at or above the minimum will win the property.
“We are honored to work with Riverside County to conduct their tax sale online,” said Bid4Assets CEO Jesse Loomis “The online sale will ensure that a live gathering will not need to take place and bidders can bid online using a computer or smartphone. Bid4Assets reduces expenses for the county while bringing a tremendous base of real estate buyers to the sale. 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 auction site based in Silver Spring, Md. The privately held company 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, Humboldt, Yolo, Napa, Riverside, San Francisco, Imperial, San Diego, Siskiyou, Fresno, Kings, Tulare, Santa Cruz 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 auction sales.
Source: Bid4Assets Inc.