SOURCE: Bid4Assets, Inc.

Bid4Assets, Inc.

December 01, 2015 10:41 ET

Los Angeles County to Auction 380 Tax-Defaulted Properties Online via Bid4Assets.com

Online Auction Will Be Held Dec. 7-9, 2015, With Deposits Due Dec. 1

LOS ANGELES, CA--(Marketwired - Dec 1, 2015) - The County of Los Angeles is utilizing Bid4Assets.com to auction 380 tax-defaulted properties online this December. The online auction will include a mix of vacant residential lots, vacant commercial land and acreage. All properties will open with a minimum bid of $1,125. No reserve price will be set, so the properties will sell to the highest bid, at or above the minimum bid.

The online auction will feature properties in Alpine Butte, Antelope Acres, Black Butte, Butte Valley, Fairmont, Foothill, Glendale, Glendora, Hi Vista, Juniper Hills, Lake Los Angeles, Lancaster, Mount Waterman, Palmdale, Pearblossom, Redman, Roosevelt, Santa Clarita, Sawmill Mountain, Sun Village, and over a dozen properties in the city of Los Angeles. Some land parcels are up to 10 acres in size and have assessed values that range as high as $2,654,456.

"I am pleased that the online auction process has allowed us to return tax-defaulted properties to paying status, while doing so in an efficient, cost effective and consumer-focused manner," said Joe Kelly, Treasurer and Tax Collector for the County of Los Angeles.

The County of Los Angeles and Bid4Assets held their inaugural online auction in May 2014. That four-day virtual event resulted in the sale of hundreds of properties. Having a high volume of tax-defaulted properties can be detrimental for counties, which rely on tax revenues to support public services like education and police. These Bid4Assets online auctions not only allow the county to recoup taxes due, but they also get these neglected assets back into the hands of responsible owners.

"Holding an online auction is an extremely smart move for the County of Los Angeles," said Jesse Loomis, CEO of Bid4Assets. "This kind of platform lets bidders from all over the world view and bid on potential real estate opportunities in one of the most dynamic counties in the United States. We are pleased to assist the county in removing these properties from their docket and placing them, instead, in the hands of new, tax-paying owners."

Bid4Assets' long history of assisting California counties with their online auctions has allowed the company to forge long-standing relationships with many of the state's top land buyers and real estate investors. These relationships, coupled with Bid4Assets' secure, web-based platform, will serve as invaluable tools to the County of Los Angeles as it seeks to match these properties with the best buyers.

Auctions open December 7th, 2015 at 10:00 AM PT and close at various times on December 9th. Bidders must fund a $5,035 deposit before they are able to bid, and the deposit allows a buyer to bid on all of the properties. The deposit is due by December 1st. You can view the auction, including a list of the properties, at www.bid4assets.com/LACounty

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, financial institutions and real estate funds. Bid4Assets is particularly active with county governments in California, where it has assisted with annual tax sales for the counties of Monterey, Humboldt, Yolo, Napa, Riverside, San Francisco, Imperial, San Diego, Siskiyou, Fresno, Kings, Tulare and Santa Cruz counties, and Los Angeles. Since its inception in 1999, the company has sold more than 100,000 properties nationwide and grossed over a billion dollars in sales.

Contact Information

  • Media Contacts:
    Micah Warren
    Large Media, Inc.
    267-880-6203
    Email Contact

    Kathy Gloster
    LA County Assistant Treasurer and Tax Collector
    213-974-2077
    Email Contact