El Dorado County’s tax-defaulted properties to be auctioned
SOUTH LAKE TAHOE, Calif. — The El Dorado County Treasurer-Tax Collector’s office will conduct its annual tax-defaulted properties sale through online auction site Bid4Assets.com beginning Nov. 1. By hosting the sale online the Treasurer-Tax Collector’s office exposes available properties to a higher volume of potential bidders.
A free Bid4Assets account is required to participate in the sale. Bidders must submit a $2,500 deposit (plus a $35 non-refundable processing fee) to qualify for participation. Deposits are due Oct. 25. To view a full list of available auctions visit bid4assets.com/eldorado.
“Allowing all bidders to participate in this sale remotely is great for our office as it opens up the process to more people while giving our staff more flexibility to work with property owners looking to redeem their properties out of the sale,” states El Dorado County Treasurer-Tax Collector K.E. Coleman in a news release. “Bid4Assets has a strong track record in California conducting sales like this one. Best of all, their services come at no cost to our office making this a win-win for El Dorado County.”
Bid4Assets has hosted tax sales for nearly every county in California since pioneering the first virtual tax sale in 2000. Bid4Assets previously conducted a sale for El Dorado County in 2014 and in early 2022. Funds generated from the sale support essential county services.
“In our 22 years of conducting California tax sales we have amassed over 200,000 registered bidders who reside in the state,” states Bid4Assets President Jesse Loomis. “Our model streamlines the process for county staff and increases revenues for the county, all at no cost to the county, guaranteed.”
Bid4Assets (bid4assets.com) is an online marketplace based in Silver Spring, Md., that 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 conducted tax-defaulted property sales for the counties of Monterey, Santa Barbara, Riverside, Imperial, Fresno and Los Angeles.
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