Financial News
Bid4Assets to Host Online Tax-Defaulted Property Auction for the County of Los Angeles Treasurer and Tax Collector’s Office
LOS ANGELES, April 04, 2023 (GLOBE NEWSWIRE) -- Bid4Assets, a leading online auction platform for the sale of distressed real estate, has been selected by the County of Los Angeles Treasurer and Tax Collector to host a tax-defaulted property sale April 22 through April 25, 2023.
Los Angeles County has been hosting virtual tax foreclosure sales on Bid4Assets since 2014. Last year alone, the county successfully sold and returned to the tax rolls 881 properties to raise over $17 million in sale proceeds.
“It’s an honor to continue working with Los Angeles County,” said Bid4Assets President Jesse Loomis. “Tax collectors around the U.S. have replicated the model that’s been working in LA now for nine years.”
Hosting tax and mortgage foreclosure sales online ensures they will take place regardless of outside circumstances such as extreme weather or a pandemic, while exposing available properties to a large statewide pool of buyers. Funds raised from the sale support essential county services.
A free Bid4Assets account is required to participate in the sale. Bidders must submit a $5,000 deposit to qualify for bidding. Deposits are due by April 18, 2023. To view the list of properties available for sale, visit bid4assets.com/LA.
For more information about Bid4Assets go to 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.
Contact: Sean McLaughlin
Marketing Manager
(301) 562-3427
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