RIVERSIDE, Calif., March 29, 2023 (GLOBE NEWSWIRE) -- The Riverside County, California Treasurer-Tax Collector’s Office will host its newest online tax-defaulted property sale in collaboration with its long-time auction partner Bid4Assets, the leading online marketplace for the sale of distressed government real estate. Online bidding for more than 267 properties will begin April 27, 2023, at 8:00 AM PT (11:00 AM ET) and end May 2, 2023, at staggered times.
“Last year’s Riverside County tax sale on Bid4Assets brought in 878 total registrants and produced over $15 million in sale proceeds,” said Bid4Assets President Jesse Loomis. “This tax sale is consistently one of the landmark events of the year for Bid4Assets’ registered buyer network. We’re honored to work with Riverside County and look forward to conducting another successful series of auctions.”
Hosting the sale in an online format ensures it remains secure against external factors while exposing available properties to a large statewide pool of buyers. Funds raised from the sale support essential county services.
Bidders must register for a free Bid4Assets account and fund a $2,500 deposit plus a $35 processing fee before being eligible to participate in the sale. Deposits are due no later than Monday, April 24, 2023. To view more details about this auction, including a full list of available properties, visit Bid4Assets.com/Riversidecounty.
Contrasting asset values are illustrated by the large spread between minimum bids which start as low as $100 for one residential property and go as high as $1,331,087 for a 13.42-acre undeveloped parcel in Temecula assessed at over $3.6 million. All auctions are no reserve, meaning the highest bid at or above the minimum will win the property.
Riverside County has hosted its tax-defaulted property sales online through Bid4Assets since 2006. For more information about this or other auctions, visit bid4assets.com.
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.
