Tax Deed Sales in Portsmouth, Virginia: A Simple Guide for Investors

Introduction

If you’re thinking about investing in real estate through tax deed sales, Portsmouth, Virginia might be a smart place to start. With a strong local economy, affordable property options, and a clear auction process, Portsmouth offers good chances to earn returns while keeping risk manageable.

This article gives you a full picture of tax deed investing in Portsmouth, including how it works, what to expect, and how to get started.

Brief Overview of Virginia’s Tax Deed Investing

Virginia is one of the states that use tax deed sales instead of tax lien certificates. That means if a property owner doesn’t pay their taxes, the county can auction off the property itself, not just the lien. If you win, you could end up owning the property.

Each county may have its own rules, dates, and bidding methods, so it’s important to understand how things work in the specific county you’re interested in—like Portsmouth.

Important Tax Sale Details for Portsmouth, Virginia

Here’s a simple table with the key info:

Detail	Information
Tax Sale Type	Tax Deed Sale
Typical Sale Date	Varies – announced by the Treasurer’s Office
Redemption Period	None (Virginia is a tax deed state)
Interest Rate	Not applicable (since it’s not a tax lien sale)
Bid Procedure	Premium bid (highest bidder wins)
Deposit Required	Usually required—check Portsmouth Treasurer’s Office for exact details
Auction Site	TBD – not published online yet
County Website	Portsmouth County Website

Fun Facts About Virginia

• Virginia was one of the original 13 colonies and is packed with history
• The state’s property tax system dates back to colonial times
• Portsmouth was founded in 1752 and has a strong maritime history
• Virginia’s population is over 8.6 million people as of 2024

Attractions and Economic Highlights

Popular Attractions
Portsmouth is home to many museums, historical sites, theaters, parks, and a scenic waterfront.

Transportation
The city is well connected by highways, bridges, rail systems, and is near Norfolk International Airport.

Economic Growth Areas
Top industries include:

• Shipbuilding and defense
• Health care
• Education
• Logistics and shipping

Community Appeal
Residents enjoy outdoor recreation, waterfront views, art galleries, wildlife preserves, and a close-knit vibe that makes living here enjoyable and affordable.

Why Virginia is Ideal for Tax Deed Investors

Virginia offers strong property laws and stable local governments. In areas like Portsmouth, you get:

• Low starting prices on properties
• A fast route to ownership (no long redemption periods)
• Real estate in a growing area near big employers and military bases

What Makes Virginia Tax Deeds a Smart Investment?

High Returns with Low Risk
Since you’re buying the property directly, the return can be much higher than traditional investments—especially if you’re able to fix and resell the property or rent it out.

Auction Process for Tax Deed Sales

• Bids start low, but it’s a competitive auction
• The highest bidder wins and gets the deed after paying in full
• Some auctions require a deposit upfront, usually a percentage of the bid

Maximum Potential Returns
Some properties can sell for 20–50% of their market value. If you do your homework, you might make a good profit.

Open to All Investors
Anyone can take part in these auctions, including out-of-state and international investors.

Understanding the Tax Deed Sale Process in Portsmouth

How the Auction Works

1. Property is listed for sale due to unpaid taxes
2. Auction date is announced by the Treasurer’s Office
3. Interested buyers place bids at auction
4. Highest bidder pays and receives the deed
5. Buyer becomes the new property owner (no redemption period)

Expected Returns
Your returns depend on how much you pay and what you do with the property afterward—resell, rent, or hold.

Foreign Investor Participation
There are no restrictions. Investors from outside Virginia—or outside the U.S.—can bid.

Importance of Doing Your Homework (Due Diligence)

What to Research Before You Bid

• Check if there are other liens or code violations
• Look at the property’s condition (if possible)
• Do a title search to know what you’re getting into

What Can Go Wrong
If you skip research, you could buy a property with major issues—like it being landlocked, falling apart, or full of unpaid debts.

Buying Over-the-Counter (OTC) Properties in Virginia

What Is It?
If a property doesn’t sell at auction, it might be available for direct purchase afterward. These are called over-the-counter (OTC) tax deeds.

Why It’s a Good Option

• No bidding wars
• Fixed prices
• Sometimes even better deals

Why Virginia Stands Out for Investors

Tax Benefits and Location
Virginia is considered tax-friendly and centrally located on the East Coast. It’s close to major cities like Washington, D.C., and offers strong infrastructure.

Real Estate Market
In places like Portsmouth, housing remains affordable but demand is slowly growing, making it a good market for flippers and long-term investors.

Conclusion

Portsmouth, Virginia gives tax deed investors a real opportunity. With the right research and approach, you could secure valuable property at low prices, skip the long wait times found in other states, and see solid returns.

This city is rich in history, offers a strong job market, and provides a good quality of life—making it a place where real estate holds value.

Pro Tips

• Always visit the property in person if you can
• Double-check for any HOA dues or city code violations
• Ask the Treasurer’s Office for a sample auction list or results from past sales
• Join forums or Facebook groups about Virginia tax deed investing to learn from others

Frequently Asked Questions

1. Can I participate in the Portsmouth auction online?
Right now, Portsmouth does not have a confirmed online auction site. Check with the City Treasurer’s Office for updates.

2. Is there a redemption period in Portsmouth?
No. Virginia tax deed sales are final, and you own the property once the deed is transferred.

3. Do I need to live in Virginia to invest?
No. Anyone can participate, including out-of-state and foreign investors.

4. How do I find out which properties are for sale?
Listings are announced by the City Treasurer’s Office.

Useful Links

• Tax Sale Information – Portsmouth
• Portsmouth Treasurer’s Office
• Portsmouth County Government Website
• 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! 

Get Started Today!

Don’t miss out on great investment opportunities! Check our auction calendar, research properties, and get ready to participate in an upcoming tax sale. Need help? book a call with an expert or explore our free resources for tips on making smart real estate investments.

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About Dustin Hahn

Dustin Hahn is a Tax Lien & Deed investor with over 22 years of experience and hundreds of deals under his belt. He created Tax Lien School.com to help you buy Tax Deeds up to 90% off mortgage free and earn up to 36% ROI with Tax Liens. This site was voted the “Most Useful Resource” for new investors. Dustin’s YouTube Channel is the #1 Channel on Tax Liens & Deeds with over 98,000 Subscribers and 3600 videos to help you start. “The Best Time To Start Real Estate Investing Was 20 Years Ago, The Second Best Time Is TODAY!”

20+yrs

5–10deals/mo

2009TLS founded