How Richmond City Conducts Tax Sales: A Simple Guide

Introduction

Richmond, Virginia, holds tax sales to recover unpaid property taxes by auctioning off tax-delinquent properties. These sales allow buyers to invest in real estate at competitive prices. Unlike traditional home sales, tax auctions follow strict legal procedures.

Auction dates change, so always check the Auction Calendar for scheduled auctions.

How the Process Works

Richmond City follows a structured process for tax sales:

1. Identifying Properties – Officials review tax records and select properties with unpaid taxes.
2. Auction Preparation – A team organizes a timed auction that supports both online and in-person bidding.
3. Public Notice – The city website and local media publish auction notices at least four weeks in advance.
4. Auction Day – Buyers place bids, and the highest bidder wins the property.

How to Register and Bid

Registering for the Auction

• Sign up online before the auction begins.
• Provide personal details and proof of funds during registration.
• Get approved and receive detailed bidding instructions.

Bidding in the Auction

• Place bids actively during the auction.
• Monitor real-time bid updates and receive alerts if someone outbids you.
• Use maximum bid settings and auto-bidding features to manage your strategy.

Additional Auction Details

• Pre-bidding may open before the main auction period – Use this time to review properties and place early bids.
• Deposit Requirement – Winning bidders pay a 25% deposit immediately after the auction.
• Final Payment – The remaining balance is due within 15 days.
• Financing is your responsibility – Arrange financing in advance, as the sale does not depend on loan approval.
• Auction Location – The auction takes place at a designated government facility and supports both online and in-person participation.

Due Diligence and Property Inspection

Before bidding, research the property carefully.

Inspect the Property

• All properties sell “as-is, where-is, and if-is.”
• Conduct an inspection if possible.
• Use Richmond GIS data and tax records to check ownership history and liens.

Verify Property Information

• Contact city officials to confirm auction details.
• Make sure the property fits your investment goals.

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! 

Conclusion

Richmond City runs timed tax auctions to sell tax-delinquent properties. Buyers must register online, actively bid, and complete payments on time since all properties sell as-is, thorough research before bidding is essential.

Stay updated on future sales—check the Auction Calendar for scheduled auctions.

Call to Action

Don’t miss your chance to invest in a tax-sale property. Visit our auction calendar today and explore available properties. If you need guidance, book a call with an expert or browse our free resources for valuable investment tips.

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