Sunday, November 22, 2009

DC Tax Sale Rescheduled


The Office of Tax and Revenue has rescheduled its tax sale for November 30th. The tax sale, originally scheduled for September, had been canceled after a legal challenge to the process. Interested parties can register from Nov. 23rd - 25th, those who had registered prior to the September deadline need not register again.

The auction is not in fact a sale, as no property changes hands on that date. Auction bidders win a claim against the property, and may eventually begin a judicial foreclosure process, but original owners retain the property in the short term and have a statutory right to pay off the bidder and clear the title to their home. And so while most property owners delinquent as of last year will exercise their rights and retain their homes, auction bidders often come away with the right to charge penalties on the property.

The auction will be held at 941 N. Capitol Street.

Washington DC real estate news

2 comments:

i hate DC OTR! said...

thanks for the update, and informative post! a property that i own had backtaxes, and was sold OUTSIDE of the tax sale. it was actually sold in sept. of this year, for next to nothing. i was working with the dc government to get three years of taxes reflected on their books - they were paid, but weren't on the books, can you believe it?!?! so in addition to battling the gov, i had to get rid of the claim on the property, which, convenietly, was suddenly appraised from 315k to 550k! so i had to pay a LOT of taxes before the property was all clean and free. i'm trying to figure out if there's anyway i can get some money back from the whole fiasco.

anyway, dc sucks in that regard.

it is not being lived in, so i have to pay 10% of the appraised value in taxes. yeah. that's $50k a year.

trying to figure out that too. i have the yard landscaped, i clean up, installed light, etc. just so it's not an eyesore, but i get treated as if i'm some kind of slum lord.

ugh.

real estate agent from Toronto on Nov 24, 2009, 3:45:00 AM said...
This comment has been removed by a blog administrator.
 

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