Nearly 400 tax-defaulted properties throughout Riverside County will be available for purchase, via open electronic bidding, during an online auction slated for the end of the month.
The Office of the Treasurer-Tax Collector is again partnering with hosting site Bid4Assets.com to conduct the exclusively internet-based auction on houses and vacant parcels seized as a result of unpaid property taxes.
The auction is scheduled to run April 24 to April 29. A total of 389 properties are currently on the selling block.
“This is an important process that we handle with the highest level of transparency,” Treasurer-Tax Collector Matthew Jennings said. “By offering the sale online, we’re able to expand access, increase participation and ensure a smooth, efficient process for bidders.”
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.
The total estimated aggregate value of the properties in default is $8.35 million.
This will mark the 13th 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 $5,000 deposit in order to participate.
“Deposits must be made via 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 assets and register at www.bid4assets.com/storefront/RiversideCountyApr25, or request offline bid forms by contacting Bid4Assets at 301-650-9193.
Parties 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/tc-221.
Anyone who needs additional assistance can contact the agency at 951-955-2952.