Counties turn to online auctions

More than 12,000 Detroit-area properties up for bid

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Wayne County, Mich. still has more than 12,000 tax foreclosed properties that it hopes to auction off online, following an auction in September that brought 300 participants from as far away as Hong Kong.

The online auction was conducted by Bid4Assets.com, whose clients include more than 40 counties nationwide, the U.S. Marshals Service and the U.S. Department of Treasury.