Press Release (ePRNews.com) - EVERETT, Wash. - Nov 20, 2018 - For the first time, Bid4Assets.com will host an online auction for tax-lien foreclosed properties on behalf of the Snohomish County, Washington Treasurer’s Office. By moving online, the county is exposing this sale to a wider range of buyers, in order to return more distressed properties to the tax rolls. Funds generated from the sale support essential county services, which can face shortfalls when taxes go unpaid.
“Transitioning our tax sale process online is a natural step for Snohomish County,” said Jill Smith, Snohomish Chief Deputy County Treasurer, “Our office is committed to continually find new ways of generating revenue for the county. Exposing these properties to a nationwide buyer base via the internet gives us a significantly better chance of returning them to productive use. Other counties in the area have found success with Bid4Assets, so their platform seems like the ideal way to achieve this.”
Bidding opens online on December 5, at 9 A.M. PT with up to 98 parcels available. Auctions will close at staggering times on December 6, beginning at 9 A.M. PT.
“We’re excited that Snohomish County has made the decision to take their tax foreclosure process online,” said Jesse Loomis, CEO of Bid4Assets. “Our platform brings a tremendous number of bidders from across the country to a group of properties that were previously only available to local bidders at a live auction. Online tax sales are cheaper and easier to conduct, return more properties to the tax rolls, and typically generate higher proceeds for the county.”
Bidders must register a free Bid4Assets account and fund a $2,035 deposit before they’re able to participate in the sale and deposits are due by November 28. You can view the auction, including a list of the properties, at Bid4assets.com/Snohomish
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 conducts online tax sales for a growing number of counties in Washington, including Benton, Clark, Cowlitz, Island, King, Kitsap, Pierce, Spokane, Thurston, and Yakima. Since its inception in 1999, the company has sold more than 100,000 properties nationwide and grossed over a billion dollars in auction sales.
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