Press Release (ePRNews.com) - DOYLESTOWN, Penn. - Mar 29, 2021 - Beginning in April, Bucks County, Pennsylvania’s Sheriff Office will conduct its foreclosure sales online through online real estate auction site Bid4Assets.com. The first sale will open for bidding April 9 with 189 properties posted for auction. The sale’s new online format eliminates all COVID-19 concerns surrounding the auction by allowing bidders to participate remotely using their cellphones, laptops and desktops.
“While it is important to get these auctions back on schedule, the safety of our citizens remains our primary concern,” said Milton Warrell, Bucks County Sheriff. “Bid4Assets services allow us to safely conduct our auctions while introducing Bucks County to a national audience of buyers. This is a fantastic step forward.”
Bidders must register a free Bid4Assets account and fund a $10,000 bid deposit to participate in the auction. All auctions will be offered with no reserve price, meaning that the highest bid at or above the attorney’s upset price can purchase the property. Available auctions can be viewed at any time at https://www.bid4assets.com/buckscountysheriffsales.
Bid4Assets has recently hosted successful online foreclosure sales for multiple sheriff offices in Pennsylvania including Montgomery, Monroe and Berks Counties. Based on data from past auctions, the sale is projected to increase participation from bidders and surplus overages returned to former homeowners. Bid4Assets’ services come at no cost to Bucks County.
“The impact we’ve seen past online sheriff sales have on other counties in Pennsylvania has been overwhelmingly positive,” said Jesse Loomis, Bid4Assets CEO. “In Montgomery County’s first sheriff sale, participation increased ten-fold with a 400% increase in third-party sales. The success surrounding these sales has been eye-opening for Pennsylvania and many sheriffs are pledging to continue with a virtual format long after we have moved past COVID-19.”
Bid4Assets was founded in 1999 and conducted the first online tax sale and the first online federal forfeiture auction, both in 2000. Over the last 20 years, they have sold over 80,000 real properties for the public sector.
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, sheriff’s offices, county tax-collectors, financial institutions and real estate funds. Since its inception in 1999, the company has sold more than 125,000 properties nationwide and grossed over a billion dollars in auction sales.