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County Holds Bid4Assets.com Auction

LOS ANGELES—The county will sell 675 tax-defaulted properties with a starting bid of $1,125 and a deposit amount of $5,000 in its first-ever online auction May 28 through May 30.

By Kelsi Maree Borland | Updated on May 20, 2014

LOS ANGELES—Los Angeles County is holding its first online auction. On May 28 to May 30, the county will sell 675 tax-defaulted properties through Bid4Assets.com, an online auction site that specializes in real estate properties. The starting bid will be $1,125 with a $5,000 deposit required to place bids.

Mark J. Saladino, the Los Angeles County treasurer and tax collector, the county made the choice to auction the properties online to reach a wider and more diverse audience. The sale of the properties will allow the county to recoup outstanding taxes and penalties owned to the county and place a greater number of properties back into the tax roll, which is beneficial to tax payers. Saladino was not available to comment for this story.

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