Sale Yields Over $26 Million in Revenue, 95% of Properties Sold

RIVERHEAD, NY, UNITED STATES, December 14, 2021 /EINPresswire.com/ -- Suffolk County held their first ever Online Property Auction, hosted by Realauction.com, on Wednesday, December 1st through Thursday, December 2nd. The sale 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 auction history.

Moving online has brought many benefits to the county, including the elimination of large public gatherings plus a significant reduction in the time and money spent over traditional live sales. County employees can now focus on their day-to-day functions without the need to run these sales in person over a two (2) day period.

“This record real estate auction is a win-win for Suffolk County residents,” said Suffolk County Executive Steve Bellone. “The Auction directly benefits taxpayers by putting these parcels back onto the tax rolls and these record results underscore the confidence in the County’s real estate market.”

Due to the overwhelming success of this year’s auction, Suffolk County is considering having multiple online property auctions per year. This will help the County to reduce property hold times and costs, plus allow individuals to become Suffolk County property owners at a reasonable cost. Holding a virtual auction opens the sale up to a larger audience, as participating bidders no longer need to be present in Suffolk County to bid.

The County selected the vendor Realauction.com earlier this year to host the online auction. There is no cost to the county for their services, and a flat $300 fee is added to the winning bid regardless of the final selling price of the property. For more information on Realauction.com, please see below.

About Realauction.com

Realauction.com is an online auction software provider headquartered in Fort Lauderdale, FL. The company has been hosting online Sheriff’s Sales, Tax Sales, Foreclosure Sales and Tax Lien Sales since 2004. Serving over 350 counties in 11 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.

Mia Ahmed
Realauction.com, LLC
9544787475 ext.
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