First sale scheduled for October 4 with 41 tax-defaulted properties listed
Wadena County, MN, Seal
Wadena County, MN, Seal
WADENA, Minn., Sept. 16, 2021 (GLOBE NEWSWIRE) -- The Wadena County Auditor-Treasurer's Office will host its first-ever online tax-defaulted properties sale with auction site Bid4Assets.com. Transitioning the sale online will allow the county to conduct it safely, removing all COVID-19-associated concerns by allowing participants to bid from their laptops, cell phones and desktops.
"We decided to try a new approach for our tax sale this year," said Wadena County Auditor-Treasurer Heather Olson. "Our hope is that the impending auction will encourage delinquent property owners to pay off their outstanding taxes so that we can remove their property from the sale. For the properties where that doesn't happen, Bid4Assets brings a large database of real estate bidders to help sell those properties and return them to the tax rolls."
Online bidding will take place October 4 beginning at 10:00 AM CT. Auctions will close October 6 at staggered times starting at 12:00 PM CT. All auctions will have no reserve price, meaning the highest bid at or above the minimum will win the property. Minimum bids will vary greatly ranging from $300 to $34,825.
"We are honored to work with Wadena County to conduct their first virtual tax sale," said Bid4Assets CEO Jesse Loomis. "This new format will be more convenient for bidders and will benefit the county both by reducing costs associated with conducting the sale and increasing revenues generated from the sale."
Bidders must register a free Bid4Assets account and fund a refundable deposit of $100 in order to participate in the sale. Deposits are due by September 28. To view a list of available properties and additional sale details visit www.bid4assets.com/wadenasales.
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, county sheriff's offices, financial institutions and real estate funds. Bid4Assets has conducted online public auctions for over 100 counties nationwide. Since its inception in 1999, the company has sold more than 125,000 properties nationwide and grossed over a billion dollars in auction sales.
Teresa M. Lundy
Image 1: Wadena County, MN, Seal
A $100 refundable deposit due September 28 is required to participate in this tax sale.
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