Nye County Raises Over $1.8 Million in First-Ever Online Tax Sale

Press Release



up to date: Jul six, 2020 eighteen:forty nine EDT


The Nye County, Nevada, Treasurer’s Workplace hosted the county’s initially-at any time on the web tax-defaulted property sale auction with website Bid4Assets.com from May perhaps 31 to June 3. Of the 567 properties that had been offered at auction, 366 bought and fifty three properties had been withdrawn from the sale at the request of the Treasurer’s office environment. The on the web character of Bid4Assets’ platform eradicated all COVID-19 considerations bordering the tax sale, allowing auction participants to bid using cell phones, laptops and computer systems from the basic safety of their household.

“Our tax sale with Bid4Assets was the most successful auction Nye County has had,” mentioned John Prudhont, Nye County Treasurer. “The price savings to Nye County taxpayers, resulting from making use of Bid4Assets.com’s on the web platform, had been sizeable. For earlier are living auctions, we essential to near our places of work to the community, pay back for travel, lodging and meals for Treasurer Division personnel touring from out of town. Further price savings resulted from not necessitating two Sheriff Deputies to provide safety as well as aid from county administration and technological innovation personnel. With Bid4Assets.com, we didn’t have to have to incur those people further charges and Nye County taxpayers also benefited from the nationwide reach and participation of bidders wherever, in the earlier, number of bidders participated from other states.”

In total, 342 bidders from 21 states, such as California, New York, Texas and Florida, participated in Nye County’s tax sale. Winning bids ranged from $784 to $140,000. The sale created $one,803,522.20 in proceeds for the county.

“We’re extremely encouraged to see this sort of a powerful charge of participation for Nye County’s initially on the web tax sale looking at the existing local weather of COVID-19,” mentioned Jesse Loomis, Bid4Assets’ CEO. “Bid4Assets’ solutions had been meant to assist counties catch the attention of a larger sized bidder pool and streamline the auction process but, considering that the outbreak, a larger sized concentrate has been positioned on preserving the tax sale process running without having making a community wellness chance. A lot of counties are seeing an greater have to have for community solutions though at the same time experiencing a lower in revenues. Our existing concentrate is helping counties elevate a lot-essential revenues.”

Bid4Assets was founded in 1999 and performed the initially on the web tax sale in 2000. More than the very last 20 several years, it has performed hundreds of tax product sales all-around the place and created hundreds of hundreds of thousands of dollars in proceeds for counties.

About Bid4Assets

Bid4Assets (http://www.bid4assets.com) is an on the web auction web-site primarily based in Silver Spring, Maryland. The privately held organization auctions distressed true estate for the federal governing administration, county tax-collectors, financial establishments and true estate funds. Bid4Assets is the main service provider of on the web tax product sales in