"This year we have hundreds of properties that might be the perfect opportunity for a hopeful buyer. Our online system makes it simple to research and bid on a variety of properties across San Diego County."
"The list of properties includes what the county deems as improved properties, unimproved properties and timeshares. The bulk of the listings are timeshares, with more than 500 included. Starting bids for many of those start as low as $100 and as high as $2,800."
"While this seems like a great way to obtain a home below market value in California, potential buyers are encouraged to thoroughly research the process and the property and make note that all sales are final."
San Diego County is conducting its annual tax auction of properties in default for at least five years. The auction includes 667 properties ranging from vacant land to beach cottages and churches, with over 500 being timeshares. Starting bids range from $100 to $1.1 million for a commercial property. Interested bidders must register by March 5 and pay a $1,000 refundable deposit plus $35 nonrefundable fee. The bidding period runs March 13-18. These auctions generate significant county revenue, with this year's properties potentially netting at least $18 million if all reach minimum bids. Buyers are advised to thoroughly research properties and understand that all sales are final.
Read at SFGATE
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