Tax Sales Hub Tax Sales Hub Investments

Tax Sale Property in Richmond, British Columbia
6911 NO. 3 RD RICHMOND V6Y 2C1
Folio: 11-320-R-059-400-000 ‐ PID: 024-203-581

Property Unique ID: n4n1EkNG

  • Status: Inactive
  • Sale Type: Public Auction
  • Tax sale date: Sep 27, 2021
  • Release date: Sep 17, 2021
  • Province: British Columbia
  • Municipality: Richmond
  • Address: 6911 NO. 3 RD RICHMOND V6Y 2C1
  • Folio: 11-320-R-059-400-000
  • PID: 024-203-581
  • Property size: 309993 Square Foot
  • Zoning: Unknown
  • Near water? No
  • Property on a lake or a bay or a river? No
  • Waterfront? No
  • Accessible by public/private road? Yes
  • House or cottage on the property? No
  • Other structure on the property? No
  • Farmland? No
  • Residential? Unknown
  • Commercial or industrial? Unknown
  • Vacant land? Unknown
  • Redeemable 12 months
Title Search Report

Title Search Report

Do you want to know everything about the property before buying it?

Find out what mortgages, liens, executions, etc. will affect the property after the tax sale.

The listed price is for a single pin; for multiple pins within a tax sale, reach out to us to determine the cost of a title search.

$149.95
Available only for active tenders

Become a member and save save more than 50% on every Title Search Summary purchase!

Minimum Bid

N/A

Assessed Value

$189,389,000.00  CAD

Potential Revenue

$189,388,999.00  CAD

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  • Property Unique ID: n4n1EkNG
  • Published: September 25, 2021

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Description

Properties with three years of outstanding taxes are auctioned to the highest bidder with a starting price set at the outstanding taxes plus a 5% administration charge. Once payment has been made, a tax sale charge will appear on the title. The existing owner has one year to redeem the property by paying the total outstanding charges and interest costs. If the owner redeems, the City will return the initial purchase price plus all interest paid by the original owner to the bidder, and the tax sale charge will be removed from the title. Rarely will properties with a building or structure change hands as a result of the tax sale. Original owners have the right to redeem the property within one year after the tax sale date. The only benefit to the bidder is usually a reasonable return for their money. By law, the current property owner must pay the bidder interest. The interest rate is set by the Province pursuant to section 11(3) of the Taxation (Rural Area) Act. The current interest rate is 5.45% and will be adjusted quarterly, in line with interest trends

Legal Description

Lot A Block 4N Plan LMP38670 Section 8 Range 6W Land District 36

No sales history for the last 3 full calendar years

Images

Tax Sale Richmond, British Columbia - 11-320-R-059-400-000 Tax Sale Richmond, British Columbia - 11-320-R-059-400-000 Tax Sale Richmond, British Columbia - 11-320-R-059-400-000 Tax Sale Richmond, British Columbia - 11-320-R-059-400-000 Tax Sale Richmond, British Columbia - 11-320-R-059-400-000

We cannot guarantee accuracy of the pictures and the borders of the tax sale land.

Location on Map

6911 NO. 3 RD RICHMOND V6Y 2C1

British Columbia tax sale properties buyer's guide

Before you go for a tax sale public auction you should consider the following:

Before you make a final decision to buy a tax sale property, be aware of the following: 

The municipality does not hold the title of the estate or any other matter concerning the lands to be sold. The property value can be much higher or much less than the minimum bid. 

It is up to you to examine this property to see if it is a good investment and to investigate the statutory requirements and tax sale provisions. 

Therefore, we highly recommend you to check the title and executions to see what will stay on the title and become your duty after the execution. Is the property subject to attributable holders' easements, limits and/or adverse possession? Do the condition of the property, land use, zoning, etc. fit into your property plans? 

  1. This process is buyer beware. You must undertake due diligence with respect to all aspects of the property.

Therefore it is important to do your homework before a public auction. 

  1. You may drive past the property, but site visits are not available.

Use Google Maps Street View on the property page to have a closer look. Since Google Maps photos could be deprecated and if the property you are interested in is not so far, it's a good idea to drive there and have a look yourself. 

IMPORTANT: YOU ARE NOT ALLOWED TO GO ON PROPERTY TERRITORY. 

  1. There is no vacant possession. The successful bidder will not receive a key to the property. The successful bidder is responsible for the eviction process if necessary.
  2. You should check if there are any Federal or Provincial liens on title
    . We recommend you do a title search before going for a public auction.

A Title Search Report can be ordered from the tender page on www.taxsaleshub.ca. It'll be ready in 1-2 business days. Most charges will be removed if the property is transferred at the end of the year of redemption, but ones that will be transferred to you as the new owner will be any senior government liens (i.e. Province of BC or Government of Canada). All other mortgages and charges will be removed before ownership is transferred to you. 

  1. You should investigate zoning, planning or building restrictions, and work orders.

Some municipal websites have a "Find Your Zoning" page, where you can find out zoning by the roll number. And, of course, you can always go to City Hall and do your research. 

  1. You are responsible for any environmental concerns if there are contamination issues with the property.
  2. We recommend retaining a lawyer to protect your interests before submitting a bid.

In order to determine what interests will affect a property after a tax sale, you will need to obtain an up-to-date title search report. Members can order reports directly from our site. An in-house title report specialist will prepare a "Title Search Report" in simple, easy-to-understand language. The Report will tell you if any encumbrances will remain against the property after the tax sale. 

By having a Title Search Report updated 1-2 business days before the auction is going to be held, you will be able to see if any new mortgages or other significant interests against the property have been registered since your first search was conducted. You might find that they have and decide not to go for a public auction. 

  1. Decide how much you are willing to pay for the property

Since the tax sale is held as a public auction, others will likely be bidding. The person with the highest bid will be permitted to purchase the property. No one else will be given the opportunity to make the purchase. You should decide the maximum amount you are willing to pay for a tax sale. The amount has to be no less than the minimum bid set per property.