Mount Vernon, WA (November 14, 2019) – For the first time ever, the Treasurer’s Office of Skagit County will hold an online auction for tax-defaulted properties via site. By moving online, the county is exposing this sale to a wider range of buyers in order to return more distressed properties to the tax rolls. Funds generated from the sale support essential county services, which can face shortfalls when taxes go unpaid.
“Many nearby counties have transitioned their tax sales online and used Bid4Assets to do it,” says Jackie Brunson, Skagit County Treasurer, “We felt like it was time to make the change. Of course, in most cases, you hope a sale will prompt procrastinating property owners to pay their delinquent taxes. But we feel exposing these properties to a national buyer base will give them a significantly better chance of being returned to productive use for the county.”
Online bidding will open December 6th at 9:00 AM PT with 20 parcels available. Auctions will close at staggering closing times that same day starting at 12:00 PM PT. Included in the sale are a residence & farmland on Bennett Road with an assessed value of $709,100 and a minimum bid of $38,294, a commercial property on SR20 with an assessed value of $166,900 and a minimum bid of $11,791 and a riverfront home on SR20 assessed at $146,000 with a minimum bid of just $8,636. All auctions are no reserve meaning the highest bid at or above the minimum will win the property.
“We’re very excited to be working with Skagit County,” says Jesse Loomis, CEO of Bid4Assets. “Bid4Assets has over 20 years of experience helping counties transition their tax-defaulted property sales online. Part of that process is bringing a tremendous number of bidders from across the country to a group of properties that were previously only available to bidders on the local market at live auction. Online sales are cheaper, easier and return more properties to the tax rolls at higher prices.”
Bidders must register for a free Bid4Assets account and fund a $535 deposit before they are able to participate. Deposits are due by December 2nd.
Bid4Assets 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 conducts online tax sales for a growing number of counties in Washington, including Benton, Clark, Cowlitz, Island, King, Kitsap, Pierce, Spokane, Thurston, and Yakima. Since its inception in 1999, the company has sold more than 100,000 properties nationwide and grossed over a billion dollars in auction sales.