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Bidding Rules

Bidding Rules - 2023 Palm Beach County Tax Lien Auction

DISCLAIMER: The following is provided as general information only. You are strongly advised to contact an attorney for any legal advice.

There are certain risks associated with bidding at tax certificate sales. You are advised to investigate, prior to bidding, to determine whether the property would be of sufficient use or value to you, should you be in a position to statutorily apply for a tax deed auction at a future date. Pursuant to Florida Law, government properties may not be sold at a tax deed public auction.

The Tax Collector makes no express or implied warranties or representation about the condition, marketability, existing or potential uses, title, outstanding liens, mortgages or other encumbrances which may survive the sale of the property, zoning regulations or laws that may affect current or future uses of the property, or existence of any conditions regarding any property and structures or fixtures thereon offered for sale. The Tax Collector makes no guaranties that properties sold at any tax certificate sale will be eligible for future sale at a tax deed auction.

 

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

  1. Introduction
    1. If you are not completely familiar with the statutes governing tax liens in this state, read the “Tax Certificate Process” document located on the Realauction website. It is a plain English summary of the law which will take only minutes to read.
    2. Remember the purchase of a certificate does not convey title to the land.
    3. While purchasing tax certificates is generally a good investment, there is some risk. Understand the risks and employ the “buyer beware” philosophy.
  2. Register
    1. Each new bidder is required to create a Username and Password as part of the process.
    2. Make sure all account information is correct and up-to-date when registering.
    3. Acknowledge and agree to adherence to the site rules and policies.
  3. Deposits

    In order for your bids to be considered, a qualifying wire deposit equal to 10% of your estimated winnings or a minimum of $5,000.00, whichever is greater, must be deposited with the Palm Beach County Tax Collector's office by 4:00 PM ET on Wednesday, May 24th, 2023.

    1. Failure to meet the deposit requirements in the time provided will affect your ability to participate in the sale.
  4. Bidding
    1. You may bid on as many auction items as you wish; your deposit limits how much you can win. When your deposit reaches $0, all bids from that point forward are ignored.
    2. The 10% deposit rule in Palm Beach County allows you to win 10 times the deposit amount entered.
    3. IF the Minimum Deposit Amount entered exceeds 10% of your estimated winnings, it is recommended that you utilize the "Batch Limit" tool provided on the Batch Summary Screen to limit your winnings accordingly.
    4. All bids placed, whether intentional or not, are the responsibility of the bidder.
  5. Batch Closings
    1. 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.
    2. After viewing results, you may change your bids in any open batch.
  6. Payments
    1. At the close of the auction, if you are a successful bidder, wire payment for your auction balance will be due by Saturday, June 3rd, 2023, 3:00 PM.
    2. Payment for certificates won will be accepted via wire transfer only. The wiring instructions for the Constitutional Tax Collector's account must be printed and taken to your bank to initiate the transaction. It is the bidder's responsibility to ensure wire transfers are transmitted with sufficient time to arrive at the Palm Beach County Tax Collector's office in the time specified.
    3. Tax Certificates shall be issued after receipt of funds at the Palm Beach County Tax Collector's office.
  7. ACH Redemptions
    This policy applies only to Bidders who have not previously submitted a completed, signed form and a voided check to the Palm Beach County Tax Collector's office for electronic redemption payments.

    In order to receive certificate redemption payments via ACH (electronic check), Bidders must:
    1.  Complete and sign the Palm Beach County Direct Deposit Authorization Agreement (found on the Downloads page).
    2.  Attach a voided check.

       Mail the original, signed agreement AND the voided check to: 
                Palm Beach County Tax Collector
                Attn: Finance & Budget
                P.O. Box 3715
                West Palm Beach, FL 33402-3715

      You must mail both the original, signed agreement AND a voided check to the address provided on the Direct Deposit Authorization Agreement form to enroll in ACH electronic redemptions. Incomplete agreements will be returned to the Bidder.  
  8. Review
    1. Review the Summary of Important Dates and Information below

     

    Summary of Important Dates and Information

     

      Bidder Accounts  
      Allow foreign bidder registrations     Yes  
      Single simultaneous bidder rule     No  
      Entity Source Bidding Policy     Yes  
     
      Auction Information  
      Bidding style     Proxy Bid Auction  
      0 value bids use proxy system     No  
     
      SubAccounts  
      Allow sub-accounts     No  
      Automatic certificate rollup / rollup fee   No     $0.00  
     
      Auction Dates and Times  
      Registration begins (site opens)**     04/17/2023 at 10:00 AM ET  
      Deposits, Registration fees and Budgets begin     05/03/2023 at 10:00 AM ET  
      Bidding begins     05/03/2023 at 10:00 AM ET  
     
      Deposits, Registration fees and Budgets end**  

      05/24/2023 at 4:00 PM ET  

      Participation Requirements        Submit a deposit  
      
      Participation Requirements Due Date     05/24/2023 at 4:00 PM ET  
      Registrations end     04/15/2024 at 4:00 PM ET  
       
      First batch closes     05/31/2023 at 9:00 AM ET  
      Batch closing interval     60 minutes  
      Last batch closes     05/31/2023 at 1:00 PM ET  
       
      Auxiliary batch opens (If applicable)     05/31/2023 at 2:00 PM ET  
      Auxiliary batch closes (If applicable)     05/31/2023 at 3:00 PM ET  
       
      Payment due date     06/03/2023 at 3:00 PM ET  
     
      Budget, Deposit and Payment Information  
      Deposit or Budget required (% of estimated winnings)     10%  
      Minimum deposit amount     $5,000.00  
      Registration Fee     $0.00  
      Registration Fee Refundable     No  
      Registration Fee Applied to Winnings     No  
       
      Deposit / Payment types acceptable:   Deposits Payments
      Budget     No     ---  
      ACH     No     No  
      ACH auto-debit final payment     ---     No  
      Wire transfers     Yes     Yes  
      Counter payments     No     No  
     
      Redemptions 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.