Bidding Rules

Bidding Rules - 2018 Highlands 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 ten minutes to read.  
     
  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.
     
  4. 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 liens for this auction. Pick a dollar amount. ($10,000 for example)
    • Make a deposit of exactly 10% of that amount. The deposit is required and must be submitted before the deadline in order for your bids to be valid.
    • Bid as many quality liens as you can. Your deposit will limit how much you can win no matter how many bids you place, so bid as many quality items as possible. There is no penalty for running out of money. If you are fortunate enough to win all the liens you want, your remaining bids are simply ignored.
       
  5. You may place as many bids as you like before making a deposit, but none of your bids will count unless the deposit requirement is met before the deadline (See Summary of Important Dates).
     
  6. 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 No
  Single simultaneous bidder rule No
  Allow sub-accounts Yes
 
  Auction Information
  Bidding style Proxy Bid Auction
  0% bids use proxy system Yes
  Automatic certificate rollup / rollup fee Yes $2.25
 
  Auction Dates and Times
  Registration begins (site opens)**   03/12/2018 at 8:00 AM ET  
  Deposits or budgets begin    05/09/2018 at 8:00 AM ET  
  Bidding begins    05/09/2018 at 8:00 AM ET  
 
  Deposits or budgets end   06/02/2018 at 3:00 PM ET  
  Registrations end   06/02/2018 at 3:00 PM ET  
   
  First batch closes   06/01/2018 at 9:00 AM ET  
  Batch closing interval 2 Hours
  Last batch closes (auction ends)   06/02/2018 at 3:00 PM ET  
   
  Payment due date   06/05/2018 at 3:00 PM ET  
 
  Budget, Deposit and Payment Information  
  Deposit required (% of estimated winnings)   10%
  Minimum deposit amount   $500.00 
   
  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 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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