Explore Affordable Tax-Defaulted Homes Up for Auction in Riverside County
Riverside County to Auction Over 800 Tax-Defaulted Parcels
Riverside County is set to conduct its annual auction of tax-defaulted properties next month, featuring more than 800 parcels available across cities including Lake Elsinore, Corona, and Riverside. This event offers a potential opportunity for first-time homebuyers to enter the housing market.
Moreno Valley residents Naomi and Randy McSwain are among those eager to find a home in Southern California. “We aren’t looking for much,” Naomi McSwain told NBC Los Angeles. “Not a mansion, just something comfortable and affordable that we can spend the rest of our years.” However, like many prospective buyers across California, they have found the housing market challenging.
“Everything was out of our price range and we went to Texas,” Naomi McSwain explained. “The weather drove us back. We are renting while we wait for the perfect place within our price range.”
The upcoming online auction, which runs from April 23 to April 28, presents a new possibility for the McSwains. Participants must register in advance and provide a $5,000 deposit by April 20 at 4 p.m. Properties will be sold “as is,” with bidding starting at increments of at least $100.
“We have a mixture of vacant land and properties that have dwellings on them,” said Adelina Abril from the Riverside County Treasurer-Tax Collector’s Office. “As it stands now, we are sitting at over 800 parcels for sale.” Some bids will start as low as $100.
For those interested, the county’s website provides maps and a comprehensive list of properties included in this year’s auction, covering various locations from Lake Elsinore to the City of Riverside.
Abril advised potential bidders to conduct thorough research, emphasizing the importance of visiting properties beforehand. “We urge all prospectives bidders to do their due diligence,” she said.
Randy McSwain noted that many of the properties they are considering are foreclosures. “You feel sorry because someone is losing their home,” he reflected.
While the McSwains see advantages to participating in the auction, they also recognize the challenges ahead, particularly the competition from cash investors. “One is getting approval from the lender and all the competition,” Naomi McSwain said. “I would see bids, and you know where they were coming from, and couldn’t match it.”
According to the county’s terms of sale, owners of tax-defaulted properties on the auction list have until April 22 to redeem their lands. The final list of available properties will be confirmed on the day of the auction.
