Bidding Policies

Bidding Policies - 2018 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. Policies Governing Certain Seminole County Employees and Elected Officials - Effective March 31, 2017
  1. 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.
  2.  
  3. 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 after the effective date of this policy.
  4.  
  5. No person who holds or has held office of the Tax Collector shall, either directly, or indirectly through a relative, third party, business entity in which the employee holds more than a 1% interest, or otherwise, participate in any auction performed by or on behalf of the Tax Collector, until a period of four (4) years has elapsed since the end of such person's term of office.
  6.  
  7. Any Seminole County Commissioner or County Constitutional Officer (Sheriff, Property Appraiser, Supervisor of Elections, Clerk of the Circuit Court), or employee of Seminole County Government or Seminole County Property Appraiser (hereinafter, "County Employee or Elected Official"), prior to participating, either directly, or indirectly through a relative, third party, business entity in which the County Employee or Elected Official holds more than a 1% interest, or otherwise, in any auction performed by or on behalf of the Tax Collector, shall file with the Tax Collector a public disclosure notice of the County Employee or Elected Official's intention to participate in that auction, on forms promulgated by the Tax Collector. (Link to SCTC Form 1)
  8.  
  9. Any County Employee or Elected Official who successfully bids on any item auctioned by or on behalf of the Tax Collector shall file with the Tax Collector a public disclosure notice within sixty (60) days after the close of the auction, and therein shall disclose the County Employee or Elected Official's name, official title, and each item successfully bid upon, on forms promulgated by the Tax Collector. (Link to SCTC Form 2)
 
 
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?
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
  Allow sub-accounts Yes
 
  Auction Information
  Bidding style Proxy Bid Auction
  0% bids use proxy system No
  Automatic certificate rollup / fee charged Yes $2.25
 
  Auction Dates and Times
  Registration begins (site opens)     05/07/2018 at 10:00 AM ET  
  Deposits (or budgets) begin   05/07/2018 at 10:00 AM ET  
  Bidding begins   05/07/2018 at 10:00 AM ET  
 
  Deposits / budgets end   05/25/2018 at 4:00 PM ET  
  Registrations end   05/25/2018 at 4:00 PM ET  
   
  First batch closes   06/01/2018 at 10:00 AM ET  
  Batch closing interval 60 Minutes
  Last batch closes (auction ends)   06/01/2018 at 4:00 PM ET  
   
  Payment due date   06/04/2018 at 4:00 PM ET  
 
  Budget, Deposit and Payment Information  
  Deposit required (% of estimated winnings)   10%
  Minimum deposit amount $0.00
   
  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
 
  Redemption 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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