Bidding Policies

Bidding Policies - 2021 Seminole County Tax Lien Auction

If you are new to Realauction tax lien auction websites, we recommend you proceed in the following fashion: 

  1. If you are not completely familiar with the statutes governing tax liens 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 a few minutes to read.
    For purposes of the Seminole County Tax Lien Auction, a property tax lien is a security interest on a parcel for unpaid real estate taxes in any year, plus assessments, penalties, advertising costs and fees. If a property owner fails to pay the delinquent taxes and fees, under Florida law, the County Tax Collector must offer qualified investors the opportunity to purchase a tax certificate at an annual public auction tax certificate sale. An awarded tax certificate only represents a financial tax lien on the property and does not convey or promise to convey ownership of the property at any time in the future.
     
  2. Review the Summary of Important Dates (see below)
     
  3. Register. You will create your own User Name and Password as part of the process.

    Note: The Seminole County Tax Collector will only accept bidder registrations for U.S. persons or other U.S. entities with a U.S. Postal address as defined in IRS Form W-9. Registrations utilizing an ITIN or foreign registrants requiring IRS Form W-8 or any other non-US registration type will not be accepted.

     Any bidder who knowingly registers improperly or violates these Bidding Policies will be prohibited from bidding in future tax certificate sales at the discretion of the Seminole County Tax Collector's office.
     
  4. The next four items are the most important information regarding the use of the auction site, so be sure you understand them completely:
    A.  Decide how much money you want to invest in tax liens for this auction. Pick a dollar amount. ($10,000 for example) 
    B.  Make a deposit of 10% of that amount. The deposit is required and must be submitted before the deadline in order for your bids to be valid.
    C.  Use the research tools available on the website to prepare for your bidding. 
    D.  Your 10% deposit will determine the maximum certificate dollar amount you will be awarded, no matter how many bids you place, so bid as many items as your research finds suitable. There is no penalty for using up your deposit on awarded certificates. If you are awarded all the liens that your deposit permits, your remaining bids are simply not recognized.
     
  5. You may place as many bids as you like before making a deposit, but your bids will not be recognized unless the 10% deposit requirement is met before the deadline (See Summary of Important Dates).
     
  6. As each batch closes, you may view the results for that batch by clicking “Auction Results” on the menu inside the auction website. Clicking the “View” link on the auction results page will display the top ten bids on that item along with other useful information. After analyzing the results, you may want to review and change your bids in upcoming batches.
     
  7. Following the close of the Sale, the successful bidder’s Taxpayer Identification Number (TIN) will be verified against IRS data files.
     
    Any discrepancy will result in that entity's account being frozen until such time as correcting information is verified by the Tax Collector.
     
  8. By virtue of and as a condition of participating in the auction, each bidder acknowledges and agrees to be bound by the Bidding Policies promulgated by the Seminole County Tax Collector as set forth herein. Any bidder who knowingly registers improperly or violates the Bidding Policies will be prohibited from bidding in future tax certificate sales at the discretion of the Seminole County Tax Collector. Further, bidder acknowledges and agrees that any certificate obtained in violation of the Bidding Policies shall be subject to cancellation. Any dispute may be appealed directly to the Tax Collector in writing, who shall have the final ruling on any matter relating to any dispute.
     
  9. No employee of the Seminole County Tax Collector ("Tax Collector"), either directly, or indirectly through a relative, third party, business entity in which the employee holds more than a 1% interest, or otherwise, shall participate in any auction performed by or on behalf of the Tax Collector.
     
  10. No employee of the Tax Collector, either directly, or indirectly through a relative, third party, business entity in which the employee holds more than a 1% interest, or otherwise, shall acquire any tax certificate sold by the Tax Collector.
 
What is a Tax Lien
A property tax lien is a security interest on a parcel for unpaid real estate taxes in any year, plus assessments, penalties, advertising costs and fees. If a property owner fails to pay the delinquent taxes and fees, under Florida law, the County Tax Collector must offer qualified investors the opportunity to purchase a tax certificate at the annual public auction tax certificate sale. An awarded tax certificate only represents a financial tax lien on the property and does not convey or promise to convey ownership of the property at any time in the future.
 
Where can I find more information about tax liens and certificate auctions?
Delinquent property taxes, tax liens and the sale of tax certificates at public auction for unpaid taxes are administered by the County Tax Collector and regulations are provided for in Chapter 197 of the Florida Statutes.

 

 

Summary of Important Dates

 

  Bidder Accounts  
  Allow foreign bidder registrations     No  
  Single simultaneous bidder rule     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   Yes     $2.25  
 
  Auction Dates and Times  
  Registration begins (site opens)**     05/10/2021 at 10:00 AM ET  
  Deposits, Registration fees and Budgets begin     05/10/2021 at 10:00 AM ET  
  Bidding begins     05/18/2021 at 10:00 AM ET  
 
  Deposits, Registration fees and Budgets end**  

  05/25/2021 at 4:00 PM ET  

  Participation Requirements        Submit a deposit  
  
  Participation Requirements Due Date     05/25/2021 at 4:00 PM ET  
  Registrations end     05/25/2021 at 4:00 PM ET  
   
  First batch closes     06/01/2021 at 10:00 AM ET  
  Batch closing interval     60 Minutes  
  Last batch closes     06/01/2021 at 4:00 PM ET  
   
  Auxiliary batch opens (If applicable)     N/A  
  Auxiliary batch closes (If applicable)     N/A  
   
  Payment due date     06/03/2021 at 4:00 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     No  
  ACH auto-debit final payment     ---     Yes  
  Wire transfers     No     No  
  Counter payments     No     No  
 
  Redemptions available via ACH?     Yes  
 
  Public Access  
  Public computers available     Seminole County 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.

 

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