How Tax Sales Work in Petersburg City

Petersburg City holds tax sales multiple times a year, depending on the number of delinquent properties.

• Auction Time: Most auctions open at 10:00 AM Eastern Time (ET) and close at 11:00 AM ET on the final day. Always check the auction listing for exact times.
• Auction Location: All tax sales take place online, allowing bidders to participate remotely.
• Redemption Period: Property owners can stop the sale by paying all overdue taxes, penalties, and fees before the auction begins.

Bidding and Payment Requirements

To participate in a tax sale, follow these key rules:

1. Registration: You must register before bidding. Registration starts when the auction is announced and stays open until it ends. It’s best to register early to avoid delays.
2. Deposit & Buyer’s Premium: The highest bidder must pay a deposit of 20% of the total sales price or $2,000 (whichever is greater). A 10% buyer’s premium is also added to the final bid amount.
3. Payment Methods: Accepted payment options include cash, cashier’s check, money order, or wire transfer. Personal checks are usually not accepted.
4. Property Condition: All properties are sold as-is, with no warranties. Research the property before placing a bid.

Who to Contact for Auction Details

For any tax sale questions, reach out to the Petersburg City Treasurer’s Office:

• Treasurer: Kevin Brown
• Email: [email protected]
• Phone: (804) 733-2322
• Address: 135 N Union St, Petersburg, VA 23803

Where to Find Tax Sale Updates

Stay informed about upcoming auctions by checking these sources:

• Petersburg City Treasurer’s Office – Official tax sale listings and notices
• Auction Calendar – Track scheduled sales and key dates

Get Ahead in Tax Sale Investing

• Investigate Urban Development Plans: Stay informed about Petersburg City’s redevelopment initiatives that could enhance property values.​
  
• Engage with Community Organizations: Connect with local groups to understand neighborhood dynamics and potential challenges.​
  
• Secure Proper Insurance: Obtain adequate insurance coverage to protect your investment from unforeseen events.​

Useful Links

• Learn How to Profit from Virginia Real Estate Auctions 
• Let’s talk about Tax Deeds and how you can profit from them!
• Discover Tax Deeds and how you can find property for as little as $50! 

Don’t Miss Your Investment Opportunity!

Ready to invest in Petersburg City? Check out our auction calendar for tax-sale properties. Need advice? Book a call with an expert. Our free resources can guide you, and if you need more details, an expert is just a call away. Start today!

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