Bidding Policies

Buying Rules - 2018 Sarasota County Tax Certificate Auction

 

  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 ten minutes to read. Remember, the purchase of a certificate does not convey title to the land. While purchasing tax certificates is generally a good investment, there is some risk. Understand the risks and employ the “buyer beware” philosophy.
     
  2. Review the Summary of Important Dates below.
     
  3. Register. You will create your own User Name and Password as part of the process.
     
  4. Bidding process:
    • Decide how much money you want to invest in tax certificates for this auction. ($10,000 for example)
    • Enter that amount as your budget.
    • Bid on as many certificates as you would like. Your budget will limit how much you can win no matter how many bids you place. As soon as you win tax certificates that equal the amount of your budget, all other bids you placed are cancelled.
       
  5. As a batch closes, you may see the results for that batch by clicking “Results” on the website menu. Click the “Sold To” link on the auction results page to display all bids on that item along with other useful information. After seeing results, you can change your bids in any unclosed batches.
     
  6. Payment for certificates won will be accepted by ACH only. Please ensure your financial institution will allow an ACH debit to your account before placing bids.
     
  7. Requirements to Participate - Registration begins at 10:00 AM ET on 06/14/2017 and ends 04/10/2019 at 4:00 PM ET.
    To become a qualified participant in the 2018 Sarasota County tax certificate sale, you must:

           a. Register on this web site.
           b. Provide bank information for processing your final payment via ACH debit.
           c. Provide bank information for processing your certificate redemptions.
           d. Create a budget conveying the amount of your anticipated purchases to the Tax Collector.
           e. Accept ALL terms and conditions in the documentation provided on this web site.

    Failure to meet ALL of the the eligibility requirements, in the time provided, will affect your ability to participate in the sale.

     

    Summary of Important Dates

     

      Bidder Accounts
      Allow foreign bidder registrations No
      Single simultaneous bidder policy No
      Allow sub-accounts No
     
      Auction Information
      Bidding style Proxy bid
      0% bids use proxy system No
      Automatic certificate rollup / rollup fee --- ---
     
      Auction Dates and Times
      Registration begins (site opens)**   06/14/2017 at 10:00 AM ET  
      Deposits or budgets begin    06/14/2017 at 10:00 AM ET  
      Bidding begins    06/18/2018 at 10:00 AM ET  
     
      Deposits or budgets end   04/10/2018 at 4:00 PM ET  
      Registrations end   04/10/2019 at 4:00 PM ET
       
      First batch closes   04/10/2019 at 4:00 PM ET  
      Batch closing interval NA
      Last batch closes (auction ends)   04/10/2019 at 4:00 PM ET  
       
      Payment due date   04/10/2019 at 4:00 PM ET  
     
      Budget, Deposit and Payment Information  
      Deposit or Budget required     100% (of estimated winnings)  
      Minimum deposit amount   $0.00 
       
      Deposit / Payment types acceptable: Deposits Payments
          Budget  No ---
          ACH  No No
          ACH auto-debit final payment  --- No
          Wire transfers No No
          Counter payments No No
     
      Redemptions via ACH Yes
     
      Public Access
      Public computers available    Public Library
     
      ** 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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