WADENA, Minn. - October 21, 2021 - (Newswire.com)
The Wadena County, Minnesota Auditor-Treasurer's Office made history by hosting the county's first-ever online tax sale on Bid4Assets.com. The sale provided complete remote bidding capability to all auction participants and generated $422,515 in sales. Of the 41 properties offered in the sale, four were withdrawn by the county and another 29 sold at auction.
"This was a fresh approach to our public auction process for Wadena County and it has produced excellent results," said Wadena County Auditor-Treasurer Heather Olson. "The new online format increased bidder participation and gave us a strong sale while allowing everyone to bid from their computer or smartphone. Our office is always exploring ways to better serve the community and this online auction pilot has been a success."
The online tax sale ran from October 4 to October 6 with 76 bidders registered to participate. The vast majority of winning bidders were Minnesota locals. Additional winning bidders came form Arizona, California, New Jersey and North Dakota. Over the course of the tax sale, 435 total bids were placed with winning bids ranging from $350 to $135,100.
"It was a pleasure to work with Wadena County to pilot their first virtual tax sale," said Bid4Assets' CEO Jesse Loomis. "Our internet-based platform, along with our large database of real estate buyers and local marketing efforts, attracted a larger audience to the auction at no cost to the county. We hope to see other counties follow Wadena's lead."
Bid4Assets hosts virtual public auctions around the country and has upcoming tax foreclosure sales and sheriff's sales in Pennsylvania, California and Washington.
About Bid4Assets
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, county tax-collectors, county sheriff's offices, financial institutions and real estate funds. Bid4Assets has conducted online public auctions for over 100 counties nationwide. Since its inception in 1999, the company has sold more than 125,000 properties nationwide and grossed over a billion dollars in auction sales.
Media Contact:
Teresa M. Lundy
TML Communications E: Teresa@TMLFirm.com
P: 215-500-8749
Press Release Service by Newswire.com
Original Source: Wadena County, Minnesota's First-Ever Online Tax Sale Drives Increased Bidding and Sales
