SAN DIEGO, CA — Have you dreamed about owning property in San Diego County but were uncertain if you could afford it? San Diego County’s Treasurer-Tax Collector has announced that over 400 homes countywide will be auctioned off by the end of March. The exact number of properties might change due to homeowners paying off their property tax bills before the auction goes live, the website says.
The parcels in the auction include properties with no structures, neighborhood “fixer-uppers,” townhomes and even time-share properties.
All bidders risk is a small deposit, which you get back if you don’t win your auction.
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Whether the purchase will be a boon or a money pit is uncertain, but for many, it’s a risk worth taking. During the 2023 tax auction, nearly 100 bidders forfeited their winning auction purchases — whether too many improvements were needed on the property or for other reasons. Still, more properties received no bid at all. However, according to the sale results, many became property owners for pennies on the dollar.
Available properties are listed in the 2024 San Diego County Property Tax Auction. Chances are you will find a diamond in the rough in areas such as Oceanside, Carlsbad, Encinitas, Escondido, Santee, La Mesa, Julian, and across San Diego. Get ready to do your homework and investigate locations and the feasibility of how much you can afford if the prices reach near the current market value. Each home listed has a tax bill that has been left unpaid for five years or more, according to the county’s website, and if you see “Redeemed,” it means someone has paid the overdue taxes.
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Deposits are now being accepted, though opening bids will not be allowed until March 22, according to the San Diego County Treasurer-Tax Collector, Dan McAllister.
Each property will be offered for sale for a minimum bid, which is typically the amount of taxes owed plus all penalties and costs applied to the property in question, according to the site.
Homes will be auctioned off online, and registration is free. A deposit is required for some listings, and if you don’t win, unused deposit amounts will be refunded within 10 days after the auction closes.
“Winning bidders need to pay an additional California documentary transfer tax, which will be added to the final sales price,” the website said.
There is an case where your deposit will be forfeited.
Auction winners who don’t pay for the purchased properties within five business days from the auction’s close will lose their deposits and may be banned from future auction sales, according to the website.
Questions about the properties on the list can be answered by the county at (619) 531-5708 between 8:00 a.m. and 5:00 p.m. PT (Monday through Friday, excluding Official County Holidays).
Important Dates:
New users – Click Register for a User ID at no cost. You must have a User ID to download the auction list & use search tools. See Tax Sale Instructions for FAQs
For more information, visit sdttc.mytaxsale.com.
Read also:
‘Airbnb Effect’ Changing SoCal’s Real Estate Market
Can Gen Z-ers Afford To Buy A Single-Family California Home In 2024?
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