Bidding Rules
Bidding Rules - 2020 Practice Site Tax Lien Auction
If you are new to Realauction tax certificate auction websites, we recommend you proceed in the following fashion:
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If you are not completely familiar with the statutes governing tax certificates in this state, read the “Tax Certificate Process” document located at the left of the home page. It is a plain English summary of the law and will only take ten minutes to read.
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Review the Summary of Important Dates (see below)
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Register. You will create your own User Name and Password as part of the process.
- Banking information must be provided for both ACH debit and ACH redemption.
- A Pre-note with NACHA (please verify the bank account and routing numbers are entered correctly).
- W-9 completed – Please note our office will perform a TIN match with the IRS. If the match comes back with an error you will forfeit your certificates.
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You must provide a US TIN number. No Foreign bidders will be allowed to register for the sale.
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The next few items are the most important information regarding the use of the auction site, so be sure you understand them completely.
- Decide how much money you want to invest in tax certificates for this auction. Pick a dollar amount. ($10,000 for example)
- Enter that amount as your budget.
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Bid as many quality certificates as you can. Your budget will limit how much you can win no matter how many bids you place. If you are fortunate enough to win all the certificates you want, your remaining bids are simply ignored.
- As a batch closes, you may see the results for that batch by clicking “Results” on the menu inside the auction website. Clicking the “Sold To” link on the auction results page will display all the bids on that item along with other useful information. After seeing results, you may want to go back and change some of your bids in upcoming batches.
Summary of Important Dates
| Bidder Accounts | |||
| Allow foreign bidder registrations | Yes | ||
| Single simultaneous bidder rule | No | ||
| Participating Bidder Agreement / Affidavit | No | ||
| Auction Information | |||
| Bidding style | Proxy Bid Auction | ||
| 0 value bids use proxy system | No | ||
| SubAccounts | |||
| Allow sub-accounts | Yes | ||
| Automatic certificate rollup / rollup fee | No | $2.25 | |
| Auction Dates and Times | |||
| Registration begins (site opens)** | Open All Year | ||
| Deposits, Registration fees and Budgets begin | 01/01/2021 at 10:00 AM ET | ||
| Bidding begins | 04/01/2020 at 10:00 AM ET | ||
| Deposits, Registration fees and Budgets end** |
05/26/2024 at 5:30 PM ET |
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| Participation Requirements |
Submit a deposit Enter ACH Redemption Information |
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| Participation Requirements Due Date | 04/10/2031 at 4:00 PM ET | ||
| Registrations end | Open All Year | ||
| First batch closes | 05/26/2022 at 5:00 PM ET | ||
| Batch closing interval | 10 minutes | ||
| Last batch closes | 05/26/2022 at 5:40 PM ET | ||
| Auxiliary batch opens (If applicable) | N/A | ||
| Auxiliary batch closes (If applicable) | N/A | ||
| Payment due date | 05/30/2030 at 2:00 PM ET | ||
| Budget, Deposit and Payment Information | |||
| Deposit or Budget required (% of estimated winnings) | 10% | ||
| Minimum deposit amount | $0.00 | ||
| Registration Fee | $0.00 | ||
| Registration Fee Refundable | No | ||
| Registration Fee Applied to Winnings | No | ||
| Deposit / Payment types acceptable: | Deposits | Payments | |
| Budget | No | --- | |
| ACH | Yes | Yes | |
| ACH auto-debit final payment | --- | No | |
| Wire transfers | Yes | Yes | |
| Counter payments | Yes | Yes | |
| Redemptions available via ACH? | Yes | ||
| Public Access | |||
| Public computers available | Public Libraries | ||
| ** Subject to change. The site will open when approved by the County. | |||
For an explanation of any of the terms above, please visit the FAQs.