City of Reading, PA Redevelopment Authority Sets Date for First Online Auctions with Bid4Assets.com
26 Maio 2023 - 6:02PM
Bid4Assets, a leading online marketplace for distressed real estate
auctions, has been selected by the City of Reading, Pennsylvania’s
Redevelopment Authority to host a special sale for four properties
in need of revitalization.
“The goal with any sale of this type is to find buyers
interested in taking ownership of these properties and restoring
them to productive use for the community,” said Jamal Abodalo,
executive director of the Redevelopment Authority. “Bid4Assets has
a great track record with Berks County in selling foreclosure and
tax foreclosures with a local buyer focus. That’s why we’ve chosen
to work with them on this group of properties.”
The sale will open to bidders on June 15 from 10:00 AM ET to
2:00 PM ET. All four available properties will start at a $1
minimum bid with no reserve price, meaning that the property will
sell to the highest bidder regardless of price. Interested bidders
will be required to register a free Bid4Assets account and fund a
$500 refundable bid deposit in order to participate. Deposits are
due by June 8th. To view the City of Reading’s auction terms and a
list of the available properties visit
www.bid4assets.com/reading.
Buyers must secure necessary building permits
within 90 days of settlement. A residential certificate of
occupancy must be obtained within 365 days after securing the
building permits. If buyers don’t meet the required terms,
ownership will revert back to the Redevelopment Authority. Full
terms are available on the Bid4Assets website.
Bid4Assets pioneered online foreclosure auctions in
Pennsylvania by conducting the first-ever virtual sheriff’s sale in
the state’s history for Montgomery County in 2020. Today Bid4Assets
conducts tax foreclosure auctions and sheriff’s sales for counties
throughout the state, including Berks County, and across the
country.
“It is a great honor to work with the City of
Reading, Pennsylvania’s Redevelopment Authority to find socially
responsible buyers for these properties,” said Bid4Assets President
Jesse Loomis, “Our focus is to find homebuyers who look at a
blighted home and see the potential for what it could be after
renovations. I am confident in our ability to provide a sale for
the City of Reading that is more efficient, has more qualified
bidders and best of all, comes at no cost to the city.”
For more information about Bid4Assets go to bid4assets.com.
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.
Contact: Sean McLaughlin
Marketing Manager
sean@bid4assets.com
(301) 562-3427
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