LOS ANGELES, April 02, 2024 (GLOBE NEWSWIRE) -- The Los Angeles County, California Treasurer’s office will conduct its latest tax sale on the leading online auction platform for distressed real estate properties, Bid4Assets. The sale will feature a mix of vacant lots including land zoned, residential and commercial acreage. All properties will open at a minimum bid with some properties starting at $1,664. All auctions will have no reserve, meaning the highest bid at or above the minimum will win the auction.
By conducting the sale online, Los Angeles County is exposing the sale to Bid4Assets’ national buyer base in order to return a greater amount of distressed properties to the tax rolls. Funds generated from the sale support essential county services, which can face shortfalls when taxes go unpaid.
“We’re honored to serve Los Angeles County and help improve their tax auction process,” says Bid4Assets President Jesse Loomis, “Our format is proven to boost local participation, increase auction sales and free up staff to dedicate more time towards assisting property owners.”
Auctions will open April 20 beginning at 3:00 PM PT and begin closing at staggered times between 8:00 AM PT and 1:00 PM PT on April 23. 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 16. To view a list of available properties, visit www.bid4assets.com/losangeles.
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.
Media Contact:
Sean McLaughlin
Bid4Assets Marketing Manager
301-562-3427
sean@bid4assets.com
