Bidding Policy

Buying Rules - 2020 Lee County Tax Certificate Auction


1.  Review the Site Documents: 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: Review the Summary of Dates and Important Information below.

3.  Register: You will create your own User Name and Password as part of the process.

4. Bidding Process:
       1. Decide how much money you want to invest in tax certificates for this auction. ($10,000 for example).
       2. Enter that amount as your budget.
       3. 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.
Please be aware that some accounts included in the Items For Sale may be in active bankruptcy proceedings.

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 Requirements: All bidders are required to pre-authorize an ACH debit by the Lee County Tax Collector’s office in the amount of their winnings. 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. Certificate Redemptions: All redemption funds for certificates purchased will be sent via ACH to the authorized account and routing number provided for redemptions.

8. Requirements to Participate - Registration begins Monday, April 27th, 2020 at 10:00 AM ET and ends Wednesday, May 13th, 2020 at 11:59 PM ET.

To become a qualified participant in the 2020 Lee 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 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     Yes  
  Single simultaneous bidder rule     No  
 
  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)**     04/27/2020 at 10:00 AM ET  
  Deposits, Registration fees and Budgets begin     04/27/2020 at 10:00 AM ET  
  Bidding begins     04/27/2020 at 10:00 AM ET  
 
  Deposits, Registration fees and Budgets end**  

  05/19/2020 at 3:00 PM ET  

  Participation Requirements        Set a budget  
  Enter ACH Redemption Information  
  Enter ACH Auto-Debit Payment Information    
  Participation Requirements Due Date     05/19/2020 at 3:00 PM ET  
  Registrations end     05/13/2020 at 11:59 PM ET  
   
  First batch closes     05/19/2020 at 8:00 AM ET  
  Batch closing interval     60 Minutes  
  Last batch closes     05/19/2020 at 3:00 PM ET  
   
  Auxiliary batch opens (If applicable)     N/A  
  Auxiliary batch closes (If applicable)     N/A  
   
  Payment due date     05/21/2020 at 5:00 PM ET  
 
  Budget, Deposit and Payment Information  
  Deposit or Budget required (% of estimated winnings)     100%  
  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     Yes     ---  
  ACH     No     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     Lee County Library 2450 First St Fort Myers FL 33901  
 
  ** 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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