Soon, Bid4Assets.com will host L.A. County’s tax-defaulted properties sale where over 1,000 tax-defaulted properties online will be up for auction for the month of August. This online auction will be held in various vacant lots, including land zoned residential, commercial, and acreage. Properties will start at $1,426, with the exception of three items with multiple parcels sold in blocks. There is no reserve price. Properties will sell to the highest bidder, regardless of cost.
Following an annual in-person tax-defaulted property auction in October 2017 and follow-up online auction in December 2017, Los Angeles County is once again hosting an online sale through auction website Bid4Assets.com. The August 2018 online sale will expose properties to a wider range of buyers in order to return more distressed properties to the tax rolls. Funds generated support essential county services, which can face shortfalls when taxes go unpaid.
“We’re honored to serve Los Angeles County in conducting their public auction for tax-defaulted properties,” says Jesse Loomis, CEO of Bid4Assets. “The hope is always that the auction will prompt property owners to pay their taxes and redeem the properties. When that doesn’t happen, we auction the property and find a new buyer. If there aren’t enough bidders in the local market, we bring a database of hundreds of thousands of nationwide real estate bidders to the auction.”
Edited by V. Haviland
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