The Nye County treasurer’s office will hold its first online tax-defaulted property sale on auction website Bid4Assets.com beginning May 31.
Moving online allows the county to safely conduct the tax sale without worrying about the COVID-19 implications of having a large gathering at the courthouse. Many Nevada counties have been forced to postpone or cancel their live tax sale in response to COVID-19. Funds generated from the sale support essential county services.
“Transitioning our tax sale online is a necessary step in response to the current crisis,” said John Prudhont, Nye County treasurer. “Bid4Assets’ online platform will allow auction participants to bid from their computer or smartphone.
“We hope that property owners will pay off their taxes so that we can remove their properties from the auction. For those that do not, the online auction will allow us to recoup the lost tax revenues and return properties to the tax rolls. The goal is to recover revenues while keeping everyone safely at home.”
Online bidding on more than 580 parcels will begin May 31, with auctions opening at 8 a.m. Auctions will close at staggered times June 3. All auctions will be no reserve, meaning the highest bid at or above the minimum will win the property. Available properties include a 152-acre parcel of land in Amargosa Valley starting at $1,623, a single-family residential property in Pahrump starting at $1,347 and a commercial property in Tonopah starting at $4,537.
“Bid4Assets is honored to serve Nye County during this difficult time,” Bid4Assets CEO Jesse Loomis said. “Nye County has over $1.2 million in outstanding revenues on these parcels, and we’re going to help them recoup every cent possible for the benefit of the county’s residents.
“Bid4Assets’ services make bidding easier than ever and give investors an opportunity to be property owners in Nye County, all at zero cost to the county. Progressive treasurers around the country like John Prudhont are adapting their tax sales in order to operate more efficiently, rather than shut down these routine essential functions. You’re looking at the new normal.”
Bidders must register a free Bid4Assets account and fund a $500 deposit plus a $35 processing fee before they can participate in this sale. Deposits are due May 29. To view a list of available properties and additional sale details visit Bid4Assets.com/Nye.
Silver Spring, Maryland-based Bid4Assets is a privately held company that auctions distressed real estate for the federal government, county tax collectors, financial institutions and real estate funds. Bid4Assets is the leading provider of online tax sales in Nevada, working with county treasurers in Pershing, Humboldt and Douglas counties. Since its inception in 1999, the company has sold more than 125,000 properties nationwide and grossed over $1 billion in auction sales.