More than 200 tax-defaulted real estate properties throughout Riverside County will hit the auction block next month, and the public is invited to bid.
The Office of the Treasurer-Tax Collector is again partnering with hosting site Bid4Assets.com to conduct the online auction on houses and vacant parcels seized as a result of unpaid property taxes.
The auction is scheduled to run April 25 to April 30.
“This is an annual process that our office facilitates with the utmost transparency,” Treasurer-Tax Collector Matthew Jennings said. “Through an online format, we are able to increase the volume of potential bidders and overall access to those interested in participating.”
Bids for county-owned real estate will start as low as $100 and could go into the hundreds of thousands of dollars before the auction closes, officials said.
All property is sold “as is.”
This will mark the 12th year that the county has turned to internet-based auctioning for its entire portfolio of assets with tax liens.
Prospective buyers must register online and make a $2,500 deposit in order to participate.
“Bid deposits must be in the form of a wire transfer, certified or cashier’s check,” according to the Office of the Treasurer-Tax Collector.
The minimum bid amounts set by the county represent tax and sales costs. According to officials, minimum prices will be reduced on some properties that do not generate interest in the first round of bidding.
Under state law, before a property under lien can be sold off, it must be held in abeyance for at least five years.
Prospective bidders can view properties and register at https://www.bid4assets.com/storefront/RiversideCountyApr24, or request offline bid forms by contacting Bid4Assets at 877-427-7387.
People concerned whether one of their properties might be on the list of sellable assets can visit the tax collector’s site to find out: countytreasurer.org/tc220.
Anyone who needs additional assistance can contact the agency at 951- 955-3999.
