Kern County Case Study
Situation: Kern County staff was bogged down with the sale of its tax-defaulted real estate, which were sold parcel by parcel in quarterly public auctions. The sale process was time intensive, the bidders were usually limited to the local area, and the County typically sold only 59% of the assets.
Kern Country turned to Bid4Assets in September 2000 to start selling its properties via Internet auction. The County's goals were to reduce the staff time spent on real estate tax sales and increase its tax revenues by returning the properties more quickly to tax-producing status.
Action: Bid4Assets tailors a sales solution for Kern County. Prior to each sale, we feature prominently the County's auctions on the Web site. The Bid4Assets marketing team also develops a targeted marketing campaign that includes direct mail, email & online marketing, and newspaper advertising to attract buyers.
To reduce Kern County's staff administrative time, Bid4Assets posts all due diligence materials such as photos, maps, zoning guides, tax and demographic information online. Post sale, Bid4Assets' proprietary electronic Deed Wizard streamlines the closing process-- making the deed transfer process seamless.
Result: As of February 2007, Bid4Assets: