"The impact we've seen from past online sheriff’s sales for other counties in Pennsylvania has been overwhelmingly positive," said Jesse Loomis, Bid4Assets’ President. Bid4Assets' services come at no cost to the county. Based on data from past auctions, the Elk’s County sale is projected to increase participation from bidders, with surplus overages returned to former homeowners. īid4Assets has hosted successful online foreclosure sales for multiple Pennsylvania sheriffs’ offices including Montgomery, Monroe, and Berks Counties. Bidders must register for a free Bid4Assets account and fund a $2,535 bid deposit to participate. Current auctions can be viewed any time at. The date of Elk County’s next sale is pending. We’ve decided it is time to bring this process into the 21 st century and make it easier for residents to participate without having to travel to the courthouse.”Ī residential property in Wilcox sold to a third-party buyer in the January 19 online auction for $27,500. “We’ve seen the success other counties have had making the switch to Bid4Assets’ virtual platform. “My office is always looking for ways to use technology to improve services for our residents on a tight budget,” said Elk County, Pennsylvania Sheriff W. Elk County is the smallest in the state to conduct their foreclosure sales online, with a population just over 30,000. County officials cite improved accessibility to a larger number of bidders, lower costs, and higher net returns as the driving force behind the decision to go online. 07, 2023 (GLOBE NEWSWIRE) - Bid4Assets, a leading online marketplace for distressed real estate auctions, successfully hosted the first online mortgage foreclosure sale for the Elk County, PA Sheriff’s office on January 19, 2023.
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