In the expensive real estate market in Vancouver, are you looking for a deal? Today, at Vancouver City Hall, dozens of properties will be put up for auction, with bids beginning as low as $1,000 for some.
Property owners with three years of delinquent property taxes can purchase these properties at the city’s yearly “tax sale” for astute buyers or investors.
There are fifty-five properties in the city up for sale. The majority are residential, with prices ranging from a $5.3 million condo in downtown False Creek to a $319,000 one-bedroom in Joyce-Collingwood. A few industrial properties are also up for sale; these range from a $10.2 million warehouse in south Vancouver to a $29,972 live/work loft in Mount Pleasant.
Property owners with three years of delinquent property taxes can purchase these properties at the city’s yearly “tax sale” for astute buyers or investors.Get the conversation going.
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There are fifty-five properties in the city up for sale. The majority are residential, with prices ranging from a $5.3 million condo in downtown False Creek to a $319,000 one-bedroom in Joyce-Collingwood. A few industrial properties are also up for sale; these range from a $10.2 million warehouse in south Vancouver to a $29,972 live/work loft in Mount Pleasant.
There are fifty-five properties in the city up for sale. The majority are residential, with prices ranging from a $5.3 million condo in downtown False Creek to a $319,000 one-bedroom in Joyce-Collingwood. A few industrial properties are also up for sale; these range from a $10.2 million warehouse in south Vancouver to a $29,972 live/work loft in Mount Pleasant.
The property owner has a year from the date of the auction to settle any outstanding taxes and reclaim the house, even in the event that a buyer “wins” the house at auction.
In that event, the bidder’s money is refunded with six percent interest by the city, and the deal falls through.
The winning bidder, who would have gotten a fantastic deal and had a tale to tell about Vancouver’s real estate market, would inherit the property if the owner fails to pay the taxes.
