Plantation, Florida- November 26, 2013- Realauction (Realauction.com), a market-leading provider of technology solutions for government agencies, recently completed the largest single tax-foreclosed property auction in Wayne County, Michigan. The county's most notable sale of the year, attracted over 140,000 individual bids, exceeding $65 million in revenue for the Wayne County Treasurer. The sale also included the ownership transfer of the abandoned 3,500,000 square foot Packard Automotive Plant located in Detroit, Michigan. The annual sale closed on October 25, 2013, with the county amassing an additional $10M in revenue year over year as a result.
"The Realauction platform has facilitated 20,615 properties sales to date in 2013, with two of our largest sales in history closing this September and October," explained Raymond Wojtowicz, Wayne County Treasurer. "Recovered revenue may now be allocated toward essential government services that can significantly enhance our communities and notably improve the quality of life throughout Wayne County."
Since partnering with Realauction, the largest provider of auction technology for County government, the Wayne County Treasurer has measurably reduced the personnel burden and cost associated with tax-foreclosed property auctions. Realauction automates time-intensive activities via the county's custom website at www.wayne.realforeclose.com. With most processes automated, the county is able to quickly collect revenue on tax liens and property foreclosure sales. "We've streamlined weeks of planning and preparation into just a few hours," he continued.
"We're proud to be the vendor of choice for Wayne County and to play a central role in expediting revenue recovery," stated Lloyd McClendon, CEO of Realauction.com. "Our advanced online auction platform is designed to benefit all stakeholders-from administrators to investors and taxpayers- by reducing auction management cost, expanding bidder participation, creating an environment designed to encourage higher winning bids."