Bid4Assets to Host Online Tax-Defaulted Properties Auction for Los Angeles County Treasurer’s Office
April 02 2024 - 7:00AM
The Los Angeles County, California Treasurer’s office will conduct
its latest tax sale on the leading online auction platform for
distressed real estate properties, Bid4Assets. The sale will
feature a mix of vacant lots including land zoned, residential and
commercial acreage. All properties will open at a minimum bid with
some properties starting at $1,664. All auctions will have no
reserve, meaning the highest bid at or above the minimum will win
the auction.
By conducting the sale online, Los Angeles County is exposing
the sale to Bid4Assets’ national buyer base in order to return a
greater amount of distressed properties to the tax rolls. Funds
generated from the sale support essential county services, which
can face shortfalls when taxes go unpaid.
“We’re honored to serve Los Angeles County and help improve
their tax auction process,” says Bid4Assets President Jesse Loomis,
“Our format is proven to boost local participation, increase
auction sales and free up staff to dedicate more time towards
assisting property owners.”
Auctions will open April 20 beginning at 3:00 PM PT and begin
closing at staggered times between 8:00 AM PT and 1:00 PM PT on
April 23. 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 16. To view a list of available
properties, visit www.bid4assets.com/losangeles.
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 McLaughlinBid4Assets
Marketing Manager301-562-3427sean@bid4assets.com
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