Bid4Assets' First Online Sheriff Sale With Monroe County, Pennsylvania Shows Promising Results

STROUDSBURG, Pa., February 16, 2021 (Newswire.com) - Online auction site Bid4Assets.com hosted Monroe County, Pennsylvania's first-ever online sheriff sale Thursday, Jan. 28. By moving the sale online, Monroe County Sheriff Ken Morris successfully eliminated all COVID-19 concerns surrounding the sale, as Bid4Assets' online platform allowed bidders to participate remotely using cell phones, laptops and computers. Monroe County's next sheriff sale is scheduled on Bid4Assets for Feb. 25. The sale opened to 70 online bidders from across six states and resulted in over $3.4 million in third-party sales.

"While this transition was necessary to safely conduct our sales in light of COVID-19, the benefits went beyond social distancing," said Morris. "The pool of buyers for our auctions has expanded and Bid4Assets' platform streamlines the process for our civil process software."

Bid4Assets was the first online auction site to sell real property for the US government, conducting the first federal forfeiture sales in 2000. Over the last 20 years, the company has worked with hundreds of agencies and conducted thousands of online public auctions. This past October, Bid4Assets unveiled Pennsylvania's first online sheriff's sale with Montgomery County.

"We are happy to see Monroe County off to such a strong start," said Jesse Loomis, Bid4Assets CEO. "Online sheriff sales are the future for Pennsylvania and the success of this sale is another perfect illustration of this. Our virtual sales dramatically expand the bidder pool, streamline tedious aspects of the sale process for counties, eliminate concerns about COVID-19 and cost the county nothing. We have two more sheriffs planning to transition online over the next month."

Bidders wishing to participate in future sales must register a free Bid4Assets account and fund a $250 bid deposit. Deposits for Monroe County's next auction are due by Feb. 18. To view additional sale details and a list of currently available properties visit bid4assets.com/monroesale.

About Bid4Assets

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, sheriffs, county tax-collectors, financial institutions and real estate funds. Bid4Assets has conducted online tax sales for over 100 counties and cities nationwide and has pioneered online sheriff's sales for at least four Pennsylvania counties. Since its inception in 1999, the company has sold more than 125,000 properties nationwide and grossed over a billion dollars in auction sales.

Media Contact:

Jon Amar
[email protected]
925-270-6511

Source: Bid4Assets Inc.