National Asset Management Group (NAMG) to list 90 No Reserve Online Auctions with Bid4Assets
Published June 21st, 2009
Bid4Assets, Inc., (www.bid4assets.com), an online real estate auction company, have announced that it has been chosen by National Asset Management Group, a national real estate investment and development company, to sell 90 properties through online auction on the Bid4Assets website. These auctions will all have no “reserve price”. Bidding on some of these auctions will start at $1 and others will have relatively low minimum bids, some as low as $550. The list of properties includes highly desirable locations including California, Arizona, Florida, Texas and Georgia.
Auctions began taking bids June 15th. The auctions end Monday June 22nd.
The properties in these auctions come from large scale purchases of REO assets from banks and defaulted mortgage investors. NAMG has nationwide relationships that they are able to leverage to gain optimum access to large REO pools and obtain property in bulk for pennies on the dollar. This allows the company to price these properties very competitively.
Jesse Loomis, V.P. of Business Development at Bid4Assets, said “We are thrilled to be working with NAMG. They are an innovative company that brings quality, affordable real estate to the marketplace. We have hundreds of thousands of potential real estate buyers who visit our site every month. We think they will actively pursue many of these properties. We’re extremely pleased that NAMG has chosen us to help them sell these properties and we will do everything we can to help them succeed”.
About NAMG
National Asset Management Group (http://www.namg.com) is a full-service outsourcing solution and buyer of REO portfolios. As part of the Orange Coast Title family of companies and its Lender Services Division, National Asset Management Group is also poised to facilitate closing services associated with loan origination. The company is headquartered in Anaheim, CA.
About Bid4Assets, Inc.
Bid4Assets (http://www.bid4assets.com) is the online auction marketplace that specializes in absolute auctions – real estate with no reserve price, many starting at $1. Bid4Assets conducts online auctions for a growing list of private sellers, federal and state government agencies, including more than 40 counties nationwide, the U.S. Marshals Service and the U.S. Department of Treasury. The privately held company, launched in 1999, is based in Silver Spring, MD and has sold over 60,000 real estate properties.
