ALLAN Susoeff here with AskAlHow.
This post explains Virginia Tax Sales.
It comes from the video, Virginia Tax Sales Explained available on my YouTube Channel. Today we’re going to talk about Virginia The Commonwealth of Virginia has 95 counties and is a deed state. They use a premium bid system. Virginia tax deed auctions occur as many times as needed. Throughout the year, tax-foreclosed properties sell both at the county and city level.
Virginia Tax Sales Facts:
The Virginia Tax Sales auctions are all on-location oral bids. Properties sell through a premium bid process. This is where the deed conveys to the highest bidder. Minimum Bids are a combination of back taxes due, penalties, and any incurred administrative cost. This makes Virginia a pretty good option for picking up tax deeds for very little money. Auctions occur at the county and sometimes the city level. There is No Over the Counter Sales available.
They get a 3 out of 5. If you are an investor flipping or building a portfolio, then this state may be a good option. it is important to note that there are two distinct areas in Virginia. eastern Virginia is populous and culturally diverse. Western Virginia is much more rural.
Do Your Due Diligence.
If you would like to have Virginia Tax Sales explained even more,
Click on one of the links below
Interested in Tax Sales in Another State?
Tax Sales investing is a niche that has the potential to be insanely profitable.
However, most investors do not have a deep understanding of this investing strategy.
Every state has a unique set of rules and regulations. There are some basic rules you need to understand as to how the process works. Generally, states will fall into one of three categories:
- Tax Lien States
- Tax Deed States
- Hybrid States
Hybrids are states who conduct their tax sales by selling tax deeds with a caveat. The deeds have a redemption period much like a tax lien certificate.
This map provides links to information for every state as well as Washington DC.
