CHAMBERSBURG, Pa., Aug. 24, 2021 /PRNewswire/ -- Beginning in September, the Franklin County, Pennsylvania Sheriff's Office will begin conducting its sheriff's sales online through real estate auction site Bid4Assets.com. The new online format eliminates COVID-19 concerns by allowing all participants to bid remotely using their cell phones, laptops and desktop computers while exposing available auctions to a wider range of buyers, increasing the chances for third-party sales.
"We are moving forward with our sales in such a way that ensures the safety of all participants and creates new opportunities for Franklin County," said Sheriff Dane M. Anthony "The end result of this transition will be a smoother and safer process for our buyers, attorneys and staff."
The first sale will be held September 10, with 32 properties scheduled for auction. Bidders must register a free Bid4Assets account and fund a $10,000 deposit in order to participate in the auction. Available auctions can be viewed at any time at www.bid4assets.com/franklinsheriffsale. Offline bid forms can be found in our office, as well as the current auction list. Prospective bidders can also use publicly available computers located at your local library to access the site and view or participate in the auction.
Bid4Assets is currently conducting virtual sheriff's sales for multiple sheriff offices in Pennsylvania including Montgomery, Monroe, Bucks, Berks, Adams, Beaver and Philadelphia counties. Based on data from similar auctions, the sale is projected to increase participation from bidders, as well as third-party sales. This also results in greater excess proceeds going back to the former homeowners. Bid4Assets' services come at no cost to Franklin County.
"We're honored to work with Franklin County to transition their sheriff's sales online," said Bid4Assets CEO Jesse Loomis. "Other sheriffs in the Commonwealth have reported numerous benefits, from increased participation to streamlined workflow for staff, to no longer having their sales beholden to the status of COVID-19 or even inclement weather. We're modernizing a process that went unchanged for hundreds of years, and more sheriffs are signing up every month."
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. In October 2020, Bid4Assets conducted the first virtual sheriff's sale in the Commonwealth with the Montgomery County Sheriff's Office. Over the last 21 years, Bid4Assets has sold over 80,000 properties for the public sector.
Bid4Assets (http://www.bid4assets.com) is an online auction site based in Silver Spring, Maryland. The privately held company auctions distressed real estate for the federal government, sheriff's offices, county tax collectors, financial institutions and real estate funds. In Pennsylvania, Bid4Assets conducts online tax or sheriff's sales for numerous counties, including Berks, Bucks, Montgomery, Monroe, Adams, Beaver and Philadelphia. 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
Franklin County, PA Sheriff Seal
A single refundable $10,000 bid deposit is required to participate in this sheriff sale.
SOURCE Bid4Assets Inc.