LienHub: Miami-Dade Tax Certificate Auction FAQs LienHub: Miami-Dade Tax Certificate Auction Frequently Asked Questions Modified 4/26/2019 What is an Internet auction? How is it different from an in-person tax sale? What equipment or software do I need to be able to participate? Will it cost me anything to participate? How can I learn more about how to use the auction website? What are the advantages of an Internet tax sale? How do I get started? What is a batch? When are my bids due? What is proxy bidding? What happens if the delinquent taxes are paid after my bid is submitted but before the batch closes? How do I submit my security deposit and pay for certificates purchased? What is an ACH debit? When do bidders have to pay the amount due for their purchases? What happens if I fail to pay the balance within the period indicated? What happens to my deposit if I don't win any certificates or if my deposit was more than I was awarded? 1. What is an Internet auction? top An auction in which bids are transmitted and received electronically through the Internet using a computer and a web browser. 2. How is it different from an in-person tax sale? top Prior to the internet sale, bidders congregated in a large room and called out their bids to the auctioneer in a process lasting more than a month. An Internet sale allows this process to be handled electronically. Each bidder will use a personal ID and Password to log on to the web site and enter bids for individual tax certificates. 3. What equipment or software do I need to be able to participate? top In order to use the auction web site you need an Internet connection and modern web browser with JavaScript and cookies enabled. Many people choose one of the following freely available browsers: Google Chrome Mozilla Firefox 4. Will it cost me anything to participate? top There is no actual cost to participate. 5. How can I learn more about how to use the auction website? top LienHub features an interactive demo. In order to view the demo, log in with your ID and password, and click "Auction Demo" on the Auction Selections page. The instructions are designed to lead users through the auction process. 6. What are the advantages of an Internet tax sale? top If you are a bidder: Easy access to underlying property and tax information from multiple public sources. Bids can be submitted in the comfort and privacy of the user’s home or office. An extended time frame during which the bidder can submit and review bids. A bidder does not have to worry about being heard by an auctioneer. Unofficial results from an auction can be viewed immediately after the auction is over. For the Tax Collector: Substantial savings of time and money. Internet platform allows users to bid from any location with an Internet connection, which can help to increase the number of bidders and the level of competition. 7. How do I get started? top Register on the website to receive a personal ID and Password. Review the Self Demo. Complete and submit online IRS Form W-9. Submit security deposit, as required. 8. What is a Batch? top Batches are auction subgroups of the Advertised List that serve as a means of organizing tax certificates for the purpose of facilitating bid submission. Each tax certificate in each Batch is auctioned independently of every other tax certificate and arranged in sequential order with a unique auction closing time for each Batch. 9. When are my bids due? top Bids can be submitted on the web site once the Advertised List is published on the Internet, usually in early May. Bids can be withdrawn or altered at any point up to the closing of the Batch. 10. What is Proxy bidding? top It is a form of competitive sale in which bidders input the minimum interest rate they are willing to accept for each certificate they would like to purchase. At the close of each batch, the auction system, acting as an electronic agent for each bidder, compares minimum acceptable rates entered by all bidders for each individual certificate. When there is more than one bidder, the final bids consist of the minimum rates entered by all bidders except the winner, whose final bid will be equal to the second lowest minimum rate minus 0.25%, unless there is a bid at 0%, in which case the winner will be awarded at 0%. In the case of a tie at the winning bid rate, the system awards to one of the tie bidders through a random selection process using a random number generator. In no case will a bidder be awarded a certificate at a rate lower than his specified minimum acceptable rate. Certificates that receive no bids will be struck to the county at 18%. 11. What happens if the delinquent taxes are paid after my bid is submitted but before the batch closes? top The Tax Collector will accept payments through the beginning of the sale on June 1 so it is possible that you may have entered a bid for an item that eventually is not offered for sale. The website is updated daily to reflect all payments received. If the payment was received prior to the start of the sale, the certificate is canceled, winning bids on certificates for which taxes have been paid, either before or after a batch closes, will be invalidated and winning bidders will receive a credit to the unused portion of their budget or a refund. 12. How do I submit my security deposit and pay for certificates purchased? top Security deposits, if required, and certificate purchases will be paid via ACH (Automated Clearinghouse) debit. Pursuant Miami-Dade County Administrative Order 4-86 and Section 68.065, Florida Statutes, returned payments shall be subject to an administrative fee of up to five percent (5%) of the returned payment (minimum $25.00). If your payment is returned for any reason, a 5% penalty will be due when you make a replacement payment. Payments may be returned for issues including, but not limited to, the entry of incorrect account information or non-sufficient funds. Please verify that your account is eligible for ACH debit and the account information is correct before you authorize payment. 13. What is an ACH Debit? top An ACH debit is an electronic funds transfer from your bank account, initiated by the Tax Collector with your prior authorization. For more information on ACH, please visit the NACHA, the Electronic Payments Association at www.nacha.org. Funds must be drawn from a US financial institution. Some types of money market, brokerage, and/or trust accounts cannot accept ACH debits. Please check with your financial institution prior to initiating payment on the web site. 14. When do Bidders have to pay the amount due for their purchases? top After the last batch closes the Tax Collector will balance and review the results of the sale. The Tax Collector will send notice to each buyer of awarded certificates on June 2, 2021. Payment must be made by ACH. The balance due for your purchases will be automatically debited from the bank account you designated as your "Final Payment Account" at 12:00 AM on June 5, 2024. If you wish to manually make your payment prior to the Final Payment Deadline, please go to the "Payments and Budget" page under "My Account" and click "Pay for Certificates". The button is activated once the last batch in the sale closes and any final data updates are complete. The deadline to pay is listed on the Auction Schedule. 15. What happens if I fail to pay the balance within the period indicated? top If your final payment is returned as invalid for any reason, all certificates awarded will be canceled and offered for resale and your deposit is forfeited. 16. What happens to my deposit if I don't win any certificates or if my deposit was more than I was awarded? top In either case, any unused portion(s) of the deposit will be refunded by check or ACH to your bank account. Go to: Select Auction View: Welcome, Auction Schedule, FAQ