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On December 31st of each year, the county treasurer begins the foreclosure proceedings on any property in which property taxes are delinquent by 2 years of more. The county treasurer takes the list of delinquent properties and sends out certified letters to the last recorded address of the owner, and any other party that has financial interest in the property, notifying them of the tax delinquency. The county will then publish the delinquent list in the local newspaper. The property is then auctioned off to the highest bidder.
Virginia is an oral bid state which uses the Premium Bid method. The starting minimum bid will begin with the amount owed in back taxes, along with penalties and any administrative cost incurred. Participants will need to register before the auction begins. The payment methods accepted are cash or certified checks. The property deed will be sent in the mail approximately one month after the auction is over.
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It is recommended that you further research Tax Deed information for each given state as laws and regulations are constantly changing. We cannot guarantee that the information given here is the most current information.