POTTSVILLE, Pa., March 26, 2024 (GLOBE NEWSWIRE) -- Bid4Assets, the leading online marketplace for distressed real estate auctions, has been selected by the Schuylkill County, Pennsylvania Sheriff’s Office to host the county’s first-ever virtual sheriff’s sale. The first sale will be held on April 12, 2024, with 18 properties currently listed. Interested bidders will be required to create a free Bid4Assets account and submit a $2,500 bid deposit by April 5.
By moving online, the sheriff’s office intends to streamline the auction process and increase accessibility by allowing all participants to bid remotely. The online format exposes the properties to a larger group of potential buyers, increasing the likelihood of third-party sales and excess proceeds for homeowners, reducing the number of properties that lenders will need to purchase.
Bid4Assets has recently hosted successful online foreclosure sales for multiple sheriff’s offices in Pennsylvania, including Montgomery, Monroe, Berks, Adams and Philadelphia Counties.
“After speaking with other sheriffs about their experience transitioning online it became obvious this was the right move for our county,” said Schuylkill County Sheriff Joseph G. Groody. “Using a sale process which allows people to bid from their phones in minutes instead of traveling to the courthouse is just common sense. It will bring more people to these sales and create new opportunities to invest in our community.”
“We are excited to work with Schuylkill County and to see the online foreclosure format continue to expand across the Commonwealth of Pennsylvania,” said Bid4Assets President Jesse Loomis. “We’ve consistently found that transitioning to online sales allows counties to bring in higher rates of participation and third-party sales, free up staff time and reduce costs.”
Bid4Assets was founded in 1999 and conducted the first online tax sale and the first online federal forfeiture auction in the U.S., both in 2000. Bid4Assets pioneered the first online sheriff’s sale in the Commonwealth of Pennsylvania in 2020.
To view available properties, visit www.bid4assets.com/SchuylkillPA.
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
