Auction of Foreclosed Properties Goes Online
Spokane County’s first online auction opened for bidding on Monday, March 4th and closed on Tuesday, March 5, 2013. There were 38 parcels taken to sale, 29 of which sold yielding more than four times the minimum bid. The minimum bid is set to cover the amount of back taxes, interest, penalties and other fees owed to Spokane County. The online auction was a success, producing sales at 49 percent of property values, which is higher than live auctions in the past. The next foreclosure auction will be held on Monday, January 6, 2014. A second auction, of the remaining parcels, will be on Tuesday, January 14, 2014.
For more information, contact the Treasurer’s Office at (509) 477-4713 during regular business hours.
Bid4Assets, Inc. (www.bid4assets.com) is one of the most successful online real estate auction websites. The company auctions distressed assets for financial institutions, private individuals and multiple state and local government agencies. Since its inception in 1999, the company has sold over 85,000 properties nationwide through online real estate auctions and generated over $381,933,384 for more than 55 counties nationwide.
Real property foreclosure proceedings will start if any one tax, assessment or lien is three full years delinquent. For more information on property in foreclosure related to an improvement district assessment, please contact (509) 477-5769.
If personal property and/or mobile homes on leased land become delinquent, the Treasurer can start the foreclosure process at any time. If the first half is not paid, the full amount is delinquent and must be paid in full with all interest, costs, and penalties.
Current Parcels In Foreclosure
The Treasurer’s Office is not involved in foreclosure sales held weekly, such as those by mortgage companies or other entities, which may be held in the courthouse or on the grounds as it is public property. For these other types of foreclosures, a Notice of Trustee Sale is filed with the County Auditor. The Auditor’s Office has a kiosk available for the public to make their own searches. For additional information, please contact the Spokane County Auditor’s Office.