Bidders who did not get to participate in the San Diego County Treasurer-Tax Collector’s (TTC) first online tax sale auction will now get a second chance. Treasurer-Tax Collector Dan McAllister announced today that registration is now open for a reoffer property tax auction featuring more than 1,000 properties.
The TTC sold a record-breaking number of properties during its initial tax sale in May, but 1,015 were left on the market. As an incentive for buyers, the TTC is discounting many of the starting bids, with all timeshares starting at $100.
“Using an online auction platform allowed us to sell $5.6 million worth of properties last month – more than we’ve ever sold before,” said McAllister. “Thanks to our new system, we know it’s easier than ever to bid on this robust inventory and get a great deal.”
The auction will take place July 21 to 26, but in order to participate, bidders must register by July 13. To sign up, log onto the TTC’s special tax sale website, sdttc.mytaxsale.com, and submit a refundable $1,000 bid deposit, as well as a non-refundable $35 processing fee.
Those who register will get to bid on 18 improved properties (homes or commercial buildings), 61 unimproved properties (land), and 936 timeshares.
All sales are final; this is a buyer beware sale. The TTC encourages potential buyers to do their due diligence and start researching the available properties at www.sdttc.com.
“During May’s online auction, we had investors registered from across California and 17 other states, as well as Canada, Puerto Rico and the Philippines,” said McAllister. “We are hopeful of reaching even more people from more countries with this reoffer auction.”
The current owners of the available parcels have had defaulted property taxes for five or more years, and they have until 5 p.m. on July 20 to pay the back taxes and avoid a sale.
“We are hoping to generate even more money for taxpayers by selling as many properties as we can. If everything sells at its minimum bid, it would total nearly $3 million,” said McAllister. “We want the parcels back in buyers’ hands to get them on our tax rolls once again.
