The Chelan County Sheriff’s Office in Washington recently successfully conducted its first virtual third-party sale conducted through a leading online marketplace for distressed real estate, Bid4Assets, a liquidity services marketplace. This was one of Washington’s first virtual foreclosure auctions and the first to sell third-party rather than being purchased by the lender.
The sale of the residential property in Wenatchee took place in October. The property received a total of 24 bids from six bidders, ultimately selling to a King County resident for $152,000. Bid4Assets’ services came at no cost to Chelan County.
“It is great to see our virtual auctions produce a sale that likely would not have happened in the old format,” said Chelan County Sheriff Mike Morrison. Sheriff’s offices in Washington were authorized to hold online foreclosure auctions under a bill passed by the 2021 Legislature.
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Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.
robert khodadadian, skyline properties, commercial real estate, off market real estate, daniel shirazi, real estate investment, new york real estate
Read MoreConnect CREThe Chelan County Sheriff’s Office in Washington recently successfully conducted its first virtual third-party sale conducted through a leading online marketplace for distressed real estate, Bid4Assets, a liquidity services marketplace. This was one of Washington’s first virtual foreclosure auctions and the first to sell third-party rather than being purchased by the lender. The sale of …
The post WA Hosts Its First Virtual Third-Party Sale for Distressed Assets appeared first on Connect CRE.