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What is the bidding process?
Currently, bidding starts with the lien amount due at the time
of the Tax Certificate Sale. The lien amount is the sum of
delinquent amounts owed to the municipality plus expenses
incurred in making the sale. The Tax Certificate Sale lien is
awarded to the highest bidder.
The full bid value is paid when the foreclosure is complete. As
a general rule, on the date of the auction, the only amount that
is paid is the lien amount plus any applicable high bid premium.
Many counties now use the high bid premium method for the
bidding process. Some counties bundle properties in groups and
do not offer individual liens for sale. The advertisement for
the sale usually specifies the method that the respective county
will use. Call the county tax sale office and find out.
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