Hundreds of properties in this Bay Area county to be auctioned with bids as low as $455

Summary

• An auction for tax-delinquent properties will be held in Alameda County this month.

• More than 250 parcels, from vacant lands to residences, will be put out to tender.

• Minimum bids start at $455, according to online auction marketplace Bid4Assets.

OAKLAND, California – More than 250 properties in Alameda County will go up for auction later this month, with minimum bids as low as $455.

Part of a district-led program Bid4Assetsan online auction marketplace that works with local, state, and federal government agencies across the country to assist in the sale of distressed goods real estateIncluding tax-defaulted properties.

Bid4Assets Marketing Manager Sean McLaughlin told KTVU the firm is working “on a mission to create a better way to conduct government foreclosure sales.”

In an email exchange with KTVU, McLaughlin noted that the program could serve as a win-win not only for participants who own property at significantly below market rates, but also for government agencies trying to recover the costs of lost real estate.

“This leads to benefits such as reduced costs, increased local participation, and higher sales rates that ultimately produce compensated revenue for the offices we work with and their constituents,” McLaughlin explained.

Properties up for auction

A total of 256 properties are being offered at the Alameda County tax default auction.

Available parcels range from vacant land to residential properties.

All of them had been in tax delinquency for years, McLaughlin said, and he also noted that oftentimes properties were offered at the amount still owed rather than their actual assessed value.

The minimum bid starts at $455, with bids going up to $1.5 million.

How can I join?

To benefit from the program, potential participants must first register for a free registration. Bid4Assets account on the website.

They must then make a single refundable deposit of $5,000 plus a non-refundable processing fee of $35.

The deadline to deposit for this auction is March 17.

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Non-winning bidders will receive a refund of their deposit, which will be refunded via electronic check within 10 business days after the end of the auction.

For those who win with their bid, the deposit will be applied towards the final payment for the property.

Once the auction ends, all winning bidders will be emailed detailed next step instructions regarding settlement procedures as well as information on how to provide the required title transfer information to the county.

“Alameda County requests that the winning bidder submit title transfer information to Bid4Assets within 24 hours of the end of the auction,” the auction marketplace’s website states. The statement was included.

Winning bidders must make full payment for the property no later than 1pm on March 25, two days after the auction closes.

“No exceptions will be made. According to the Bid4Assets website, if the payment policy is not followed, the winning bidder will forfeit their deposit to Alameda County and may be barred from future sales.”

Final sales prices are subject to additional fees, including a county registration fee of $17 per parcel, California documentary transfer tax assessed at a rate of $0.55 per $500, and any additional city transfer taxes associated with the property.

Go deeper

The Alameda County tax default auction is one of 15 auctions in California and the only one in the Bay Area scheduled for this month through June.

Bid4Assets was founded in 1999.

Alameda County has been hosting auctions on tax-delinquent properties in partnership with Bid4Assets since at least 2009, according to the auction marketplace founded in 1999.

Other California counties scheduled for auctions in the coming months include Stanislaus, Yolo, San Joaquin, Monterey and Santa Cruz.

The Alameda County auction will be held March 20 through March 23.

Important dates and times

• Deposit deadline: 17 March 13:00

• Auction start: 20 March 08:30

• Auction end date: March 23, closing times vary. Participants should check the times of individual auctions.

• Deadline for payment: 25 March 13:00

Click for a list of Alameda County properties Here and look for the “Auction Folders” section.