Bid4Assets

Bid4Assets is an online real estate auction site, founded in 1999, that partners with government agencies across the U.S. Most of its sales are county auctions of tax-defaulted and tax-foreclosed property, along with sheriff's sales, judicial sales and federal forfeiture auctions. It also hosts some bank-owned and private-seller auctions.

How buying works

• Deposits: most government auctions require a deposit before the sale starts, paid by wire transfer or certified check. One deposit covers every item in that sale. Bidders who win nothing get it back by eCheck, less a $35 processing fee.
• Fees: Bid4Assets charges the seller, not the buyer, but a seller may add a buyer's premium to its auction, so each auction's terms should be reviewed before bidding.
• Payment: in government auctions, final payment goes to Bid4Assets; in private auctions it is settled with the seller. Winners must contact the seller within 2 business days of the close.
• Non-payment: a government-sale winner who does not pay forfeits the deposit.

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Facts only, from the sources listed above. Always check each listing’s terms before you bid.