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A West Side home for $5,000? Vancouver home auction for bargain hunters

D8d194f40cb13417f79d4d8daee34fdb?s=96&d=mm&r=g
DH Vancouver Staff Nov 12, 2015 11:01 am

How would you like to buy a $2 million house on West 13th Avenue and Blanca Street for as low as $10,500?

The property could be yours for the low, low price if you can snatch it up during the City of Vancouver’s annual ‘Tax Sale’ held today – but make sure you read the fine print.

Each November the City auctions off dozens of properties that have been reclaimed after three years of unpaid property taxes. The prices start off at only a fraction of the land assessment, meaning properties like the West 13th Ave. house have a starting price of only 0.5% of their value. It may sound like one of the city’s best kept secrets, but as with all good deals, there’s a catch.

Whoever purchases these properties at auction may not have the house for long. The original homeowner has one year after the Tax Sale to pay off their property taxes and take back their house. If that happens, the City returns the bidder’s money along with a tidy 6% interest. If the property is not taken back, the bidder then becomes the official property owner and can do what they like with the home.

[am2_see_also]

This year’s sale includes 18 residential and commercial properties, starting as low as $547 for a $200,000 condo in the 60 West Cordova building in Gastown.

Residential properties for sale:

#2108 1199 Seymour Street

Assessed Land Value: $280,000
Auction starts at: $2,553.92

#1204 1255 Main Street

Assessed Land Value: $413,000

Auction starts at: $1,248.12

1231 Salsbury Drive

Assessed Land Value: $602,000

Auction starts at: $3,263.76

Image: Google Maps

Image: Google Maps

#501 66 West Cordova Street

Assessed Land Value: $207,000

Auction starts at: $547.40

2065 Ferndale Street

Assessed Land Value: $2,172,000

Auction starts at: $11,264.52

#1106 1723 Alberni Street

Assessed Land Value: $278,000

Auction starts at: $2,257.76

Image: Google Maps

Image: Google Maps

1836 Parker Street

Assessed Land Value: $930,000

Auction starts at: $7,160.21

Image: Google Maps

Image: Google Maps

1786 East 1st Avenue

Assessed Land Value: $684,000

Auction starts at: $4,254.78

Image: Google Maps

Image: Google Maps

#1005 2445 West 3rd Avenue

Assessed Land Value: $397,000

Auction starts at: $2,344.29

#501 1590 West 8th Avenue

Assessed Land Value: $262,000

Auction starts at: $2,923.52

925 East Broadway

Assessed Land Value: $735,000

Auction starts at: $2,636.35

#404 2175 Salal Drive

Assessed Land Value: $384,000

Auction starts at: $3,763.27

4663 West 13th Avenue

Assessed Land Value: $2,095,000

Auction starts at: $10,595.42

Image: Google Maps

Image: Google Maps

1248 West 15th Avenue

Assessed Land Value: $882,000

Auction starts at: $6,419.52

1234 West 15th Avenue

Assessed Land Value: $882,000

Auction starts at: $6,296.31

2437 East 22nd Avenue

Assessed Land Value: $714,000

Auction starts at: $4,306.67

Image: Google Maps

Image: Google Maps

1336 East 28th Avenue

Assessed Land Value: $757,000

Auction starts at: $2,363.91

Image: Google Maps

Image: Google Maps

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DH Vancouver Staff
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