As marketplaces trend more and more towards online purchasing, many sheriff’s offices across the US are exploring virtual alternatives to in-person auctions conducted at the local courthouse, citing the benefits of greater accessibility and rates of community participation in court-mandated mortgage foreclosure sales. This change can produce large community benefits, but it can also be fraught with legal questions and logistical hurdles.
In this panel discussion, you will hear from three sheriffs who have successfully transitioned from in-person foreclosure sales conducted on the courthouse steps to virtual auctions conducted through the Bid4Assets platform. They will discuss motivating factors that led them to explore a virtual foreclosure process, obstacles they faced making that transition a reality and feedback from both local constituents and office staff.
Finally, they’ll take your questions, helping you examine the process from every angle and determine whether prioritizing a transition to online foreclosure sales is the right move for your county.
A Partner Webinar is a sponsored webinar with an organization that provides products or services to the criminal justice industry.
Resources and Handouts
- Handout: Case Study – Laying the Foundation for Best Value Sales
- Handout: Online Real Estate Auctions with Bid4Assets
Bid4Assets is an online auction site based in Silver Spring, Maryland. The privately held company auctions distressed real estate for the federal government, sheriff’s offices, county treasurers and tax-collectors, and financial institutions. Since its inception in 1999, the company has sold more than 125,000 properties nationwide and grossed over a billion dollars in auction sales.