PAROWAN, UTAH (MO.Properties) – The Auditor’s Office of Iron County, Utah will hold the state’s first-ever online tax-defaulted property sale on auction website Bid4Assets.com. Utah counties are required by law to hold an annual sale for tax-defaulted properties, which has proven difficult in light of the COVID-19 outbreak. Moving online allows the county to safely conduct their sale without having to worry about the social distancing implications of a live auction. Funds generated from the sale are applied to delinquent taxes, late fees, interest and administrative fees. Funds in excess of what is owed to the County, are deemed Surplus Funds and held for delinquent property owners to claim.
“Transitioning this sale online is a necessary step for Iron County in the current climate,” said Dan Jessen, Iron County Auditor. “We are working with delinquent property owners and our goal is to auction as few properties as possible. For those properties that do need to be auctioned, Bid4Assets’ experience gives us confidence the process will be well-managed while keeping people at home. People can bid online using a computer or smart phone or by completing paperwork we have available.”
Bid4Assets pioneered the first internet-based tax sale back in 2000 and has subsequently conducted hundreds of online tax sales across the country. Online bidding will take place May 28th beginning at 10:00 AM MT. Auctions will close at staggered times starting at 12:00 PM MT. Available auctions include an 80-acre parcel of vacant land starting at $1,024 and a single-family residence on 9.28 acres starting at $8,060. All auctions will be no reserve meaning the highest bid at or above the minimum will win the property.
“We’re honored to be able to help Iron County recoup lost revenues in these challenging times,” said Jesse Loomis, Bid4Assets’ CEO. “This tax sale auction will give a new group of investors and homebuyers an opportunity to buy tax-defaulted property in Iron County. You are looking at the new normal. The days of packing the courthouse with a big crowd are over for the foreseeable future. Fortunately, online sales are easier to conduct, expand the buyer pool, allow participants to practice social distancing and they cost the county absolutely nothing.”
Bidders must register a free Bid4Assets account and fund a $200 deposit before they can participate in this sale. Deposits are due May 20th. To view a list of available properties and additional sale details visit Bid4Assets.com/Iron.
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, county tax-collectors, financial institutions and real estate funds. Bid4Assets conducts internet-based tax sales for counties in California, Washington, Nevada, Utah, Idaho and South Carolina, to name a few. Since its inception in 1999, the company has sold more than 125,000 properties nationwide and grossed over a billion dollars in auction sales.