Registration for the San Diego County Tax Sale ends tomorrow! Of the 396 properties that will be auctioned off between March 22-27, this one is the most exciting. The owner had cashed out $1,460,000 back in the heyday of 2007-2008, and they were in foreclosure in 2020 but nothing came of it. They probably still owe enough that they can’t, or won’t get right with it in time to beat the auction:
This one at the top of the hill in Carlsbad has been vacant for years, and would have been the buy of the century because it has no mortgages. But it got redeemed just in time:
https://sdttc.mytaxsale.com/doc/tax_deed/instructions
How do these type of auction take place? Can you explain a bit of the details of the process (registration, where house are listed, how to do the house inspection, offers, what happens if an offer gets accepted)
I was told that there was not much available in SD county given the large equity that a lot of owner have. Do you think this can be a good way to find good quality houses?
Thanks!
I don’t know much and they have now gone to online auctions which sounds efficient. It only costs you $1000 to be a bidder!
Here are the FAQs:
https://sdttc.mytaxsale.com/doc/tax_deed/faq
You don’t get title insurance so you need to be really clear about the other liens, recorded or not – because they will be your problem.