Kitsap County, Washington, organizes an annual tax foreclosure auction to recover unpaid property taxes. This process ensures the county collects overdue taxes while giving property owners a chance to clear their debts. Let’s break it down step by step for easy understanding.

When Property Taxes Go Unpaid

Kitsap County starts the foreclosure process when property taxes remain unpaid for three or more years. For example, taxes from 2021 must be paid by January 2024 to avoid foreclosure.

Here’s what happens:

• The Treasurer’s Office sends several notices to inform property owners about their overdue taxes.

• These notices explain how property owners can stop the foreclosure process.

• Interest and penalties keep adding to the unpaid balance until it is fully paid.

Check out our Auction Calendar for scheduled auctions.

The Foreclosure Process

The foreclosure officially begins when the Treasurer’s Office files a Certificate of Delinquency with the Superior Court.

1. Property owners must pay all overdue taxes, penalties, interest, and fees in full to stop the process.
2. Kitsap County does not accept partial payments or payment plans once foreclosure begins.
3. If the debt remains unpaid, the property becomes eligible for auction.

Getting Ready for the Auction

Kitsap County’s tax foreclosure auction takes place once a year, usually in December, and is conducted online via Bid4Assets.

Steps to prepare:

1. Check the Property Listings:
   
   Listings are published weeks before the auction.
   
   Each listing includes the parcel number, address, and starting bid amount.
2. Register on Bid4Assets:
   
   Buyers must create an account on the platform.
   
   A $2,500 refundable deposit and a $35 non-refundable processing fee are required to participate.
3. Understand the Rules:
   
   Review the auction terms and payment requirements provided by the county.

How the Auction Works

The auction is conducted entirely online, so bidders can participate remotely.

Here’s how it happens:

• Bidding starts at an amount covering unpaid taxes, penalties, interest, and foreclosure costs.

• The highest bidder wins the property.

• The winner must pay the full purchase price, including a 5% buyer’s premium, by the deadline.

Payments are made electronically through the Bid4Assets platform.

What Happens After the Auction

Once the payment is verified, the county issues a Treasurer’s Deed to the winning bidder. This deed transfers ownership of the property but comes with certain limitations.

Important details:

1. The deed does not guarantee the property’s condition or legal status.
2. Buyers take on all risks, including liens, encumbrances, or other issues associated with the property.
3. Unsold properties become tax title properties, which may be offered in future auctions or sold through private negotiations.

Essential Tips for Buyers

To make a successful purchase, buyers should keep the following in mind:

Research Thoroughly:

• Investigate the property’s legal status, condition, and any liens.

• Confirm the property’s usability and potential risks.

Understand the Terms:

• They sell the properties “as is,” and all sales are final.

• Missing payment deadlines or failing to meet requirements can result in losing the property and deposit.

Be Prepared:

• Have sufficient funds ready for payment.

• Familiarize yourself with the auction platform and process.

Useful Links

• Auction Calendar
• Investing in Washington Tax Sales
• 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! 

Take Action Now

You don’t want to miss the next tax sale, so Check out our Auction Calendar. It’s a great chance to find valuable properties or investment opportunities. Register and start preparing now.

If you’re new to the process or have questions, schedule a call with an expert to get step-by-step guidance. Explore our free resources for helpful tips to make smart and informed decisions. Take control of your investment journey today

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