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County Records Research To Announce Bidding Service

Posted by Paul on March 10, 2010 at 8:00 PM

I was talking to Kurt today from County Records and he told me that they are days away from announcing a bidding service. It would initially be introduced in OC and LA and then, if successful, expand to other counties.

He stated the cost would be $2900 to have someone bid for you. The customer would bid first on the County Records website and the highest bid would be the one that the County Records, on- site, auction rep would represent. It would require giving County Records your cashier's checks and power of attorney. I suggested some type of insurance/bonding against potential fraud by one of their employees. Kurt said he was looking into it but not having much success.

As a one man team, I am intrigued by the idea, as I think it would allow some additional strategies. It will however, probably be another factor in decreasing margins.


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