Bid4Assets is one of the first online real estate auction sites, with tax foreclosures, sheriff’s sales, and federal forfeiture auctions. Its services are best for homebuyers looking for distressed, tax-defaulted, or non-traditional properties.
Even though the company started its site in 1999, there are few online reviews. Of the handful that exist, some reviewers complain about poor customer service. Bid4Assets doesn’t have much of an online presence beyond its main site and social media pages, although its YouTube channel has helpful tutorials.
If you’re looking for strong cash offers on a home you’re selling, you’d likely do better by looking at other options. Bid4Assets mainly sells assets from government agencies, real estate funds, and small wholesalers.[1] An alternative is Clever Offers, which lets you quickly compare multiple cash offers, including direct cash sales, investor bids, and creative financing solutions.
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🔎Bid4Assets summary
- Bid4Assets is a nationwide, online real estate auction site best suited for buyers looking for fixer-uppers, tax-defaulted properties, and unique properties.
- Its non-traditional property offerings include rural land, city lots, government-seized assets, and non-buildable land.
- The company has a handful of online ratings. While those reviews are mostly negative, there are too few to draw general conclusions about the company’s service.
What is Bid4Assets?
Bid4Assets is an online-only auction that sells rental and commercial properties and vacant land. Its specialty is selling distressed properties for the federal government and county tax collectors. It also sells many types of foreclosed homes, including those resulting from tax foreclosures, sheriff’s sales, and federal forfeitures.
As a buyer, it’s free to have and use an account. The company doesn’t charge a buyer’s premium, although the seller might. If you win an auction, you have two days from closing to pay the seller. If you don’t, Bid4Assets charges a $250 non-performing bid fee, or you forfeit your deposit if it's a government auction.[2]
Many of its auctions have few, if any, photos. Properties could also have liens or other issues. Buyers are encouraged to do their due diligence by researching the property on GIS (Geographic Information Systems), like Google Maps or those available from the property’s county. Paid GIS systems it recommends include ReportAllUSA.com and MapRight.com.
While that may seem like a hassle, the steep discounts on properties, cross-country listings, and a wide range of property types may make it worth it for the right buyer. If you’re an accepted seller, you also benefit from a nationwide audience of over 850,000 registered bidders.[3]
GovEase, another government and tax-sale auction site, is likely Bid4Assets' closest competitor for buyers. For sellers wanting cash buyers, Clever Offers is a worthy alternative. Its marketplace consists of vetted real estate investors and cash buyers.
Who Bid4Assets works best for
Bid4Assets works best for investors and buyers wanting to purchase distressed, abandoned, or seized homes. It may also be a good choice for investors purchasing unique lots that they can potentially turn into a profitable business venture.
Even if Bid4Assets is a good solution for your needs, it’s essential to compare alternative platforms to make sure you get the best home your money can buy.
🔒 Is Bid4Assets legit?
Yes, Bid4Assets is a long-standing business that was one of the first of its kind on the online market. It has sold properties for over 100 counties and agencies, some of which use them exclusively.
Since its inception, it’s sold more than 125,000 properties, grossing more than $1 billion in auction sales. Moreover, it has an A+ rating with the BBB, showing it to be a trustworthy business.
Who Bid4Assets doesn't work best for
Bid4Assets likely isn’t for you if you want to buy or sell a move-in-ready home or want to sell your home for top dollar. Most buyers are investors hunting for deals, so you won’t get market value. Cash buyers or low-commission realtors who sell homes on the traditional market will give you better options.
Homebuyers looking for a primary residence should also avoid Bid4Assets since most properties are sold as-is, sight unseen, and often have title issues, liens, or no access for inspections.
Bid4Assets reviews: What real customers say
| Source | Customer rating |
|---|---|
| BBB | 2.33/5 (3 of reviews) |
Bid4Assets has had its corner of the internet for over 25 years, but the digital world has little to say about it. Few buyers or sellers discuss their experience, and the few online reviews available are generally negative buyer experiences about poor communication and customer service.
However, this doesn’t necessarily mean that Bid4Assets doesn’t provide good support. It’s important to remember that people tend to leave reviews when they’re very happy or very dissatisfied with a service. Without a larger pool of reviews, it would be unfair to make sweeping generalizations about how the company operates.
The company’s long-standing partnerships with over 100 counties and government agencies also suggest a level of operational reliability that may not be reflected in the small sample of public reviews.
Recent customer reviews
‘Poorly managed’
Some customers complained of subpar customer service.
I have been in the real estate business industry for over 20 yrs as a broker, business manager, investor and property manager. I have never, ever encountered a business that is so poorly managed…I can't get a hold of customer service for hrs on end! I have had multiple emails unanswered timely and support often transfers the issue to a higher-up anyway, which takes a few more days to resolve any issues. I have personally reported this company to my county and I hope the county reconsiders processing auctions through this outfit...
— Mudar H., BBB
‘Refund process was swift’
One reviewer appreciates how fast they received a refund.
Dear Client Service Team: I think the refund process was swift and prompt. Since I didn't have to wait the full 10 days to receive the refund. However, there could be some improvements made with the lines of communication between this seller and a buyer. In the end, it was only by seller's email. Sincerely, Buyer
— Francis G., BBB
Alternatives to Bid4Assets
| Option | Best for | Wrong for |
|---|---|---|
| Cash home buyers |
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| Low commission agents |
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| Flat fee MLS company |
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If Bid4Assets doesn't approve your seller account request, you still have options. Cash home buyers will likely provide a faster time to close and fewer contingencies than traditional sales, but cash buyers typically pay 20% to 30% less than market value.
If you want to get the highest price for your home, low-commission realtors can maximize your home’s sales value. These agents provide a full-service experience at discounted rates. It’s best for homeowners with a turn-key home or those who don’t want the hassle and potential liabilities of selling a home themselves.
However, experienced sellers who don’t need support can keep the most money in their pocket by listing the home for sale by owner. You pay a flat fee to list the home on MLS for buyer visibility and handle the other legal, marketing, and negotiation aspects yourself. You could also purchase some services from MLS à la carte, such as pricing consultations.
Beware that when selling FSBO, some states require seller disclosure forms, attorney involvement, or licensed agents at certain points in the selling process. Make sure you understand your legal responsibilities before going the DIY route.
Bid4Assets: The bottom line
Bid4Assets is a niche platform that fills a specific need in the real estate market. It’s a popular choice for government agencies looking to sell off foreclosed and seized properties. It works primarily with this market and accepts other types of sellers on a case-by-case basis.
The company may not be a good fit for everyday homebuyers or sellers looking for a straightforward transaction. However, for investors with the right risk tolerance and the time to investigate properties thoroughly, it can be a valuable tool in the hunt for deals.
Investors looking to buy distressed properties can snag deeply discounted homes, but they might have to purchase sight unseen and thoroughly research properties for liens or other issues.
If you want to sell your home to a cash buyer, consider alternatives like Clever Offers. It matches you with a couple of vetted buyers ready to pay with cash in your area. Homebuyers looking for a primary or second residence can also work with realtors to find homes that need little to no work or target off-market homes.
