Bid4Assets to Host Online Tax-Defaulted Property Auctions for El Dorado County
PLACERVILLE, Calif., October 7, 2022 (Newswire.com) - The El Dorado County Treasurer-Tax Collector's office will conduct its annual tax-defaulted properties sale through the online auction site Bid4Assets. By hosting the sale online, the Treasurer-Tax Collector's office exposes available properties to a higher volume of potential bidders.
The one-day sale will be conducted on Nov. 1. A free Bid4Assets account is required to participate in the sale. Bidders must submit a $2,500 deposit (plus a $35 non-refundable processing fee) to qualify for participation. Deposits are due by Oct. 25. To view a full list of available auctions, visit bid4assets.com/eldorado .
"Allowing all bidders to participate in this sale remotely is great for our office as it opens up the process to more people while giving our staff more flexibility to work with property owners looking to redeem their properties out of the sale," said El Dorado County Treasurer-Tax Collector K.E. Coleman. "Bid4Assets has a strong track record in California conducting sales like this one. Best of all, their services come at no cost to our office making this a win-win for El Dorado County."
Bid4Assets has hosted tax sales for nearly every county in California since pioneering the first virtual tax sale in 2000. Bid4Assets previously conducted a sale for El Dorado County in 2014 and in early 2022. Funds generated from the sale support essential county services.
"We're excited to be continuing our relationship with the El Dorado County Treasurer-Tax Collector's office, and we're looking forward to a productive sale for their community," said Bid4Assets President Jesse Loomis. "In our 22 years of conducting California tax sales, we have amassed over 200,000 registered bidders who reside in the state. Our model streamlines the process for county staff and increases revenues for the county, all at no cost to the county, guaranteed."
About Bid4Assets
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. 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 $10 billion of completed transactions to more than 4.8 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.
El Dorado County Contact: K. E. Coleman, MBA
Treasurer-Tax Collector
(530) 621-5800
Source: Bid4Assets