Bidding Rules
2024 Nassau County Tax Certificate Auction
Terms of Sale
Bidding Rules
Summary of Important Information
Terms of Sale
Bidding Rules
Getting Started
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-hand menu prior to logging in. It is a plain English summary of the law and will take only a few minutes to read.
Realauction offers live training classes (via the Internet) once a week for several weeks prior to the close of the sale. Attendance is by registration only. These classes generally last about ninety(90) minutes, cover the use of the software only and, are free of charge. To register for a class, please contact the Realauction Customer Service Center at (877) 361-7325.
Register on this site
As a requirement of participation in the sale, potential buyers must register on this website to receive a bidder number. At the time of registration, you will create your own Username and Password as part of the process.
Note: Nassau County utilizes a Single Simultaneous Bidding Entity Rule which states that each bidder may register only once and cannot have a contractual, legal or financial relationship with any other bidder registered in the Nassau County Tax Sale.
Requirements to Participate
Registration begins at 11:00 AM ET on 01/24/2024 and ends at 11:59 PM ET on 02/07/2024.
Registration grants you access to the site only and does not guarantee participation in the Nassau County tax certificate sale.
To become a "qualified" participant in the 2024 sale, you must also comply with the participation requirements by 11:59 PM ET on Wednesday, February 7th, 2024.
The participation requirements in Nassau County are as follows:
Submit a deposit
Set a budget
Pay the registration fee
Failure to meet ALL of the participation requirements, by the date/time specified, will affect your ability to participate in the sale.
Review Important Auction Information
Review the Summary of Important Dates table below which contains dates, times and other important information specific to the Nassau County tax certificate auction.
Terms
While purchasing tax certificates is generally a good investment, there are some risks involved. The Treasurer does not make any guarantees that a purchaser will make money on a purchase and bidders should be aware that the property owner has a right to redeem the tax lien AT ANY TIME.
The purchase of a certificate does not convey title to the land. Understand the risks and apply the “buyer beware” philosophy.
Pay your Registration Fee
A Registration Fee of $175.00 is required to participate in the sale. Registration Fees must be completed by Wednesday, February 7th, 2024, are NON-refundable and will NOT be applied to auction winnings.
Place a Deposit
A deposit is required and must be submitted prior to the deposit deadline in order for your bids to be valid. In Nassau County, the deposit requirement is 10% of your estimated winnings or, a minimum of $5,000.00, whichever is greater.
Set a Budget
As the deposit minimum in Nassau County is $5,000.00, using the 10% rule, all buyers can potentially win a minimum of $50,000 in certificates at the auction.
As such, all buyers will be required to set a budget prior to placing bids on the site. Budgets may be set up to the amount of winnings your deposit will support.
Place Your Bids
It is the bidder's responsibility to research properties, prior to placing bids.
Bid on as many quality liens as you like. Your deposit will limit how much you can win, no matter how many bids you place and there is no penalty for running out of deposit money. If you are fortunate enough to win all of the liens you want, your remaining bids are simply ignored.
Note:
• All bids placed whether intentional or not are the responsibility of the bidder.
• 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 prior to the deposit due date.
Batch Closings
Certificates are advertised and sold individually. However, in order to make the bidding process more manageable, certificates are divided into groups called "batches" which close every 60 Minutes on the sale date.
As each batch closes, you can review the results for that batch by clicking “Results” on the website menu. After viewing the results, you are welcome to modify your bids in any open batches.
Payments
Payment for certificates won will be accepted by ACH (electronic check) only. Please ensure your financial institution will allow an ACH debit to your bank account before placing bids.
If the purchaser of a tax lien fails to pay the amount due by the date/time determined by the Treasurer, the Treasurer may prohibit the purchaser from purchasing tax liens for a period of not more than one (1) year.
Summary of Important Dates
Bidder Accounts | |||
Allow foreign bidder registrations | No | ||
Single simultaneous bidder rule | 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 | Yes | $20.00 | |
Auction Dates and Times | |||
Registration begins (site opens)** | 01/24/2024 at 11:00 AM ET | ||
Deposits, Registration fees and Budgets begin | 01/24/2024 at 11:00 AM ET | ||
Bidding begins | 01/24/2024 at 11:00 AM ET | ||
Deposits, Registration fees and Budgets end | 02/07/2024 at 11:59 PM ET | ||
Participation Requirements |
Submit a deposit Click HERE to go to the "Participation Requirements" page to view or update the eligibility status of your bidder account. |
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Participation Requirements Due Date | 02/07/2024 at 11:59 PM ET | ||
Registrations end | 02/07/2024 at 11:59 PM ET | ||
First batch closes | 02/20/2024 at 12:00 PM ET | ||
Batch closing interval | 60 Minutes | ||
Last batch closes | 02/20/2024 at 4:00 PM ET | ||
Auxiliary batch opens | N/A | ||
Auxiliary batch closes | N/A | ||
Payment due date | 03/21/2024 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 | $175.00 | ||
Registration Fee Refundable | No | ||
Registration Fee Applied to Winnings | No | ||
Deposit / Payment types acceptable: | Deposits | Payments | |
Budget | Yes | --- | |
ACH | Yes | Yes | |
ACH auto-debit final payment | --- | No | |
Wire transfers | No | No | |
Counter payments | No | No | |
Redemptions available via ACH? | No | ||
Public Access | |||
Public computers available | 1 West St. Mineola NY 11501 | ||
** Subject to change. The site will open when approved by the County. |