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Oklahoma County Sheriff's Office to Conduct First-Ever Online Foreclosure Auction with Bid4Assets.com

By: Bid4Assets, Inc. via GlobeNewswire

November 09, 2023 at 07:00 AM EST

ⓘ This article is third-party content and does not represent the views of this site. We make no guarantees regarding its accuracy or completeness.

OKLAHOMA CITY, Nov. 09, 2023 (GLOBE NEWSWIRE) -- The Oklahoma County, Oklahoma sheriff’s office has selected Bid4Assets, the leading online marketplace for distressed real estate sales, to conduct their first-ever online sheriff’s sale. Oklahoma County’s first sale is scheduled for November 14. Prospective bidders must register a free Bid4Assets account in order to participate in the sale.

“Our office is always searching for new ways to utilize technology to benefit the residents of Oklahoma County,” said Oklahoma County Sheriff Tommie Johnson, III. “Bringing these auctions online will open participation up to more bidders, reduce blight in the community and free up our staff to spend more time working with homeowners seeking to remove their property from the sale.”

Bid4Assets collaborated with sheriffs, attorneys and legislators to pass Senate Bill 976, which was signed into law by Governor Kevin Stitt on May 25, 2022. The bill gave Oklahoma sheriffs the option, but not the mandate, to conduct foreclosure auctions online.

Several other sheriffs’ offices are preparing to move their foreclosure sales online following Oklahoma County’s first sale. Bid4Assets’ services will come at no cost to Oklahoma County, plaintiffs, defendants or foreclosure attorneys.

Bid4Assets was founded in 1999 and has been auctioning federally forfeited and seized properties for agencies like the U.S. Marshals and Department of Treasury for over 20 years. Bid4Assets' primary focus is helping county governments to conduct foreclosure and tax foreclosure auctions online. Bid4Assets recently pioneered virtual foreclosure auctions in Pennsylvania and Washington.

“Bid4Assets has two primary goals with Oklahoma County: increase efficiency and drive sales,” said Bid4Assets President Jesse Loomis. “When properties sell for more than the amount needed to satisfy the debts of the property, the borrower may claim those excess proceeds. The focus of our marketing team is to drive participation and bidding in these sales to help distressed homeowners preserve equity in their home and other counties that we’ve transitioned online have seen a dramatic increase in these proceeds."

Anyone interested in viewing a list of properties coming up for auction may visit www.bid4assets.com/OKCSheriff.

About Bid4Assets

Bid4Assets is one of the world's leading online marketplaces for the sale of distressed real estate property sold by governments, county tax-collectors, financial institutions, and real estate funds. It conducts online tax and foreclosure sales for counties across the United States and has sold more than 100,000 properties grossing more than $1 billion in completed government transactions. Bid4Assets is a wholly owned subsidiary of Liquidity Services.

About Liquidity Services

Liquidity Services (NASDAQ: LQDT) operates the world's largest B2B e-commerce marketplace platform for surplus assets with over $10 billion in completed transactions to more than five million qualified buyers and 15,000 corporate and government sellers worldwide. The company supports its clients' sustainability efforts by helping them extend the life of assets, prevent unnecessary waste and carbon emissions, and reduce the number of products headed to landfills.

Contact: Sean McLaughlin
Marketing Manager
sean@bid4assets.com
(301) 562-3427

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