Payment in full by wire transfer, money order or cashier’s check (made payable to Bid4Assets), will be required within 3 business days of the close of the auction. No business checks, personal checks or credit cards will be accepted. Payments in excess of the purchase price will be refunded by mail within 30 days.
Purchasers of property at the tax sale must also pay a Documentary Transfer Tax on the amount of the bid. The tax is based on the rate of $.55 for each $500 or fractional part of each $500 when the bid exceeds $100.
Purchasers of property within the city of Richmond must also pay a City Transfer Tax in addition to the Documentary Transfer Tax. The rate for this city tax is $7 per $1,000 of the purchase price.