Bradford County, PA to Transition to Online Sheriff’s Sales

The County will conduct its first online sale on March 27 with two properties listed

TOWANDA, Pa., March 19, 2024 (GLOBE NEWSWIRE) -- Bid4Assets, the leading online marketplace for distressed real estate auctions, has been selected by the Bradford County, Pennsylvania Sheriff’s Office to host the county’s first-ever virtual sheriff’s sale. The first sale will be held on March 27, 2024, with two properties scheduled for sale. Interested bidders will be required to create a free Bid4Assets account and submit a $1,000 deposit by March 20.

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 defendants, while reducing the number of properties that lenders will need to purchase. Properties purchased by lenders at auction are often referred to as REO, or real estate owned, and are typically vacant and reduce housing stock.

Bid4Assets has recently hosted successful online foreclosure sales for multiple sheriff’s offices in Pennsylvania, including Montgomery, Monroe, Berks, Adams and Philadelphia Counties.

“I have always explored ways to use technology to improve processes and better serve my community,” said Bradford County Sheriff Clinton J. Walters. “Bid4Assets’ large database of bidders will help more property owners preserve their equity. The more efficient process will result in time savings for bidders who have other jobs, as well as free up my civil team to work with property owners trying to get their home out of foreclosure. This is a win-win for Bradford County.”

“Online sheriff’s sales have been steadily gaining momentum in Pennsylvania for several years due to the simple fact that they are more efficient and produce better results,” said Bid4Assets President Jesse Loomis. “We’ve consistently seen that bringing these sales to a virtual format saves bidders, attorneys and county staff time and maximizes sales proceeds, which helps homeowners, lenders and the county. We’re thrilled to see Bradford County making this transition.”

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.

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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