Bedford County to list properties on bidding website
The county commissioners approved an agreement to allow the Sheriff's office to post properties on a website called 'Bid4Assets'. Bidders can access these sales from across the country and have access to place bids on state and county properties.
'When we have a sheriff's sale, we usually have a sale, and we will advertise it, and then we'll have some type of sheriff sale here [at the courthouse],' Bedford County Sheriff Wayne Emerick said. 'But now with Bid4Assets, the group pretty much goes online, and they go nationwide. People in D.C. or Chicago or wherever can view this and bid on a property.'
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The real estate posted online will have a bidding price. If the sale goes over the selling price, the county will get poundage back, which is the additional payment over the original selling price.
The money going back into the county can help save taxpayers money.
'It broadens more people with the bid. So the chance of making more of a poundage for the taxpayers for their, ability to, save taxes that way because they're getting more money back for the sale,' Emerick said.
The county looks to set up its website to post properties in July.
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