Sale Date: October 12th 9:30AM; Registration Deadline 10/3 at 5 PM EST
RIVERHEAD, NY, US, September 26, 2023 /EINPresswire.com/ — Suffolk County will be holding their second Online Property Auction, hosted by Realauction.com, on Thursday, October 12th at 9:30AM EST. Any bidders interested in participating in this year’s sale must register and submit the required forms listed below by October 3rd at 5:00PM EST. A free Bidder Training class, open to the public, will be held via webinar on Friday, September 29th at 2PM EST. To register, please visit the Realauction website at: https://www.realauction.com/training.
In order to be authorized to participate in the Suffolk County Foreclosure Sale, bidders will be required to complete, sign and upload a Registration Form, Acknowledgment of Terms Form and an IRS W-9 form. The instructions to complete this process are on the auction website which is: https://suffolk.ny.realforeclose.com/. Participants will also need pay a deposit of 23% plus $300 of the anticipated total bid amount, per item, via ACH or wire transfer.
It is important to note that it can take several days for an electronic transaction to clear, so bidders must allow enough time for this as all deposits are required to be received before the sale begins. Deposits will be applied toward winning payments if applicable & refunded upon bidder request. Prospective bidders can complete their research on the site as well – including links to such sites as the Real Estate and Property Appraiser’s Departments.
The previous online sale in 2021 was a huge success, with over $26 Million in third party sales and 95% of properties sold. The auction shattered the previous highest sale record of $14 Million and resulted in the fourth highest parcel count in the county’s auction history. Moving online has brought many benefits to Suffolk County, including the elimination of large public gatherings plus a significant reduction in the amount of time and money spent on traditional live sales. County employees can now focus on their day-to-day functions without the need to run these sales in person. Investors also save significant time that would have been spent traveling to the county to participate in the live sale.
For more information on Realauction.com, please see below.
About Realauction.com
Realauction.com is the largest online auction software provider in the nation. The company has been hosting online Sheriff’s Sales, Tax Sales, Foreclosure Sales and Tax Lien Sales since 2004. Serving over 500 counties in 15 states, Realauction.com runs online sales for some of the largest metropolitan counties in the US including Miami-Dade, FL; Dallas, TX; Denver, CO; Orlando, FL and Newark, NJ. For more information, please visit their website at www.realauction.com, or call their Customer Service Department at 1-877-361-7325 Option #2.
Mia Ahmed
Realauction.com, LLC
+1 954-734-7400
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