TAX FORECLOSURE AND DISTRAINT SALES
* the 2014 Tax Foreclosure aution will begin at 9am PST on December 9, 2014
What You Should Know.
Island County does not guarantee or provide warranty whatsoever on parcels sold at tax foreclosure or distraint auctions. The County conveys the entirety of the interest that it may legally transfer, unless otherwise noted.
Anyone considering purchasing a property at a tax foreclosure or distraint sale should be aware of the risks and investigate the property carefully prior to the auction date.
Island County Treasurer tax foreclosure and distraint sales are BUYER BEWARE sales. The parcels are offered on a "where is" & "as is" basis. The County makes no representation of warranty, nor any guarantee of warranty, expressed or implied, as to the condition of title to any property, nor the physical condition of any property or its fitness for any use or purpose.
Treasurer's Deeds issued on parcels acquired in foreclosure sales DO NOT warrant clear title. It is strongly recommended that the buyer view the property and make additional inquiries about concerns or questions that may arise.
PLEASE BE ADVISED:
Private property should not be entered without the permission of the current property owner.
These parcels are privately owned until the conclusion of the auction. Any site inspection of the parcels should be done with the authorization of the current parcel owner. Anyone inspecting these parcels from anywhere other than the public right-of-way does so without the authorization of Island County and is considered to be trespassing.
Please respect the property rights of the current parcel owners.
What is Tax Foreclosure?
When real property taxes become three (3) years delinquent, the County Treasurer begins foreclosure action.
A Certificate of Delinquency is filed with the Superior Court listing the property accounts to be included in the foreclosure action. Once the Certificate is filed, foreclosure costs are added to each parcel, which will accrue.
All parties with a recorded legal interest are notified and served by certified or registered mail. A Notice of Summons is also published in the local newspapers, as required by law. (RCW 84.64.050)
WHAT IS DISTRAINT
When personal property taxes are not paid before they become delinquent, and remain unpaid, per RCW 84.56 the Treasurer is to distrain and sell said personal property, to include mobile homes, manufactured homes, park model trailers and business equipment, among other things.
What is the redemption period on parcels Subject to foreclosure or distraint?
The owner of the parcels or other parties with a recorded legal interest may redeem the property up to 4:00 p.m. (closing) on the day before the sale. (RCW 84.64.070)
There is no right of redemption by owners or lien-holders on the day of the sale.
What are excess proceeds?
If a parcel is sold at a foreclosure sale in an amount greater than the minimum bid, the surplus monies (excess proceeds) can be claimed by the previous record title owner (the owner holding title on the day the Certificate of Delinquency was filed) provided that all water and sewer district liens have been satisfied. (RCW 84.64.080)
REAL PROPERTY AUCTION PROCESS (Tax Foreclosure Sale)
NOTICE: NEXT FORECLOSURE AUCTION TO BE HELD December 9, 2014 at 9am PST
Bidding will close on the last6 parcel at noon PST on December 10th unless overtime bidding occurs.
All bidders must be registered. You may register for the tax sale by going to www.bid4assets.com and clicking the "sign up" link at the top of the page.
A minimum bid will be posted for each parcel.
Payments must be wired following the bid 4 Assets instrcutions within 24 hours of submitting a winning bid.
A Treasurer's Tax Deed will be issued within 60 days.
MOBILE HOME DISTRAINT PROCESS (DISTRAINT SALE)
NOTICE: Next Distraint Auction to be held, TBA
The Minimum Bid List will be available prior to sale. You may also contact the Collections Deputy at (Contact Us).
All bidders must be registered. You may register for the tax sale prior to the sale by contacting the Collections Deputy (Contact Us), or in the Commissioner's Hearing Room before the auction begins. No changes to the registration may be made after the sale. There is no registration fee. When you register, you will be provided a copy of the terms of sale. You are required to read and sign the terms of sale before being issued a bidder number card. You cannot bid without a card.
Those wishing to bid must be present or have a representative present at the auction.
The auctioneer will announce the minimum bid for each parcel. To bid, you must hold up your issued bidder card and call out the bid amount. Each parcel is sold to the highest bidder.
Payment requirements are as follows: Cash, Cashier's Check, Money Order. No other form of payment will be accepted.
Once a parcel is bid on and sold, the successful bidder must immediately step forward and pay in full. No time is allowed for bidders to leave the sale to get funds and return. Failure to make payment as required will trigger an immediate resale of the property to the previous bidder and the defaulting bidder will be excluded from further participation in the auction. Island County does not offer a financing program.
If a bidder is due a refund, the refund will be issued and mailed AFTER the expiration of 10 business days.
A Bill of Sale will be issued within 60 days.
WHERE WILL THE DISTRAINT SALE BE HELD?
Island County Commissioner's Hearing Room B102
1 NE 6th Street
Coupeville, WA 98239