WENATCHEE, Wash., Nov. 16, 2023 (GLOBE NEWSWIRE) -- The Chelan County, Washington Sheriff’s office successfully conducted its first virtual third-party sale conducted through a leading online marketplace for distressed real estate, Bid4Assets.com. This was one of Washington’s first virtual foreclosure auctions and the first to sell third-party, rather than being purchased by the lender.

The sale of the residential property in Wenatchee took place on October 6, 2023. The property received a total of 24 bids from six bidders, ultimately selling to a King County resident for $152,000. Bid4Assets’ services came at no cost to Chelan County.

“It is great to see our virtual auctions produce a sale that likely would not have happened in the old format,” said Chelan County Sheriff Mike Morrison. “Bid4Assets manages several of the procedures of these auctions such as funds management and providing support to bidders. This allows our staff to focus more of their energy on serving our constituents.”

“Bid4Assets specializes in finding buyers for properties that struggle to get back into the public’s hands when being brought to auction at the county courthouse,” said Bid4Assets President Jesse Loomis, “Chelan County is in a great position to help homeowners and lenders maximize recovery, using a process that actually reduces their workload and never costs the county a cent."

Chelan County’s next auction on Bid4Assets will take place on December 1 with real property available in Leavenworth. Interested bidders must register a free Bid4Assets account and fund a $5,000 deposit prior to participation. Additional sale details and terms can be found at www.bid4assets.com/chelandec23.

Bid4Assets was founded in 1999 and has conducted online tax sales for counties across the country, including over half the counties in the state of Washington, generating over a billion dollars in sales proceeds.

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.

Contact: Sean McLaughlin

Marketing Manager

sean@bid4assets.com

(301) 562-3427