{"live_reload":null,"modal":1,"overlayFooter":"","overlayTitle":"FAQ","javascript":["\n var realSubmit = true;\n function submit_my_form(f,sub,delay)\n {\n if (!f) f = document.my_form;\n\n if (sub && sub.match(/results/))\n f.action = \"/results\";\n\n\t\t\tif (!delay) delay = '5000';\n if ((new Date()).getTime() - f.last_submit_attempt.value > delay)\n {\n f.last_submit_attempt.value = (new Date()).getTime();\n realSubmit = false; // Distinguish real submissions\n if (!f.onsubmit) { // variable name\n f.submit();\n }\n else if (f.onsubmit()) { // function call (handler returns false to cancel)\n f.submit();\n }\n\t\t\t\treturn 1;\n }\n\t\t\telse\n\t\t\t{\n\t\t\t\treturn 0;\n\t\t\t}\n }\n "],"overlayBody":"\n
\n \n \n \n\n \n\n\n\n\n\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\n\n\n\n\n BidMiamiDade_FAQ\n
BidMiamiDade Frequently\nAsked\nQuestions
\nModified 4/26/2019
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    \n
  1. What is an Internet auction?
  2. \n
  3. How is it different from an\nin-person tax sale?
  4. \n
  5. What equipment or software do I\nneed to be able to\nparticipate?
  6. \n
  7. Will it cost me anything to\nparticipate?
  8. \n
  9. How can I learn more about how to use the auction website?
  10. \n
  11. What are the advantages of an\nInternet tax sale?
  12. \n
  13. How do I get started?
  14. \n
  15. What is a batch?
  16. \n
  17. When are my bids due?
  18. \n
  19. What is proxy bidding?
  20. \n
  21. What happens if the delinquent\ntaxes are paid after my bid\nis submitted but before the batch closes?
  22. \n
  23. How do I submit my security\ndeposit and pay for\ncertificates purchased?
  24. \n
  25. What is an ACH debit?
  26. \n
  27. When do bidders have to pay the\namount due for their\npurchases?
  28. \n
  29. What happens if I fail to pay\nthe balance within the period\nindicated?
  30. \n
  31. What happens to my deposit if I\ndon't win any certificates\nor if my deposit was more than I was awarded?
  32. \n
\n1.\nWhat is an Internet\nauction? top
\nAn auction in which bids are transmitted and received electronically\nthrough the Internet using a computer and a web browser.
\n
\n2.\nHow is it different\nfrom an in-person tax sale? top
\nPrior to the internet sale, bidders congregated in a large room and\ncalled out their bids to the auctioneer in a process lasting more than\na month. An Internet sale allows this process to be handled\nelectronically. Each bidder will use a personal ID and Password to log\non to the web site and enter bids for individual tax certificates.
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\n3.\nWhat equipment or\nsoftware do I need to be able to participate? top
\nIn order to use the auction web site you need an Internet connection\nand\nmodern web browser with JavaScript and cookies enabled.
\n\n
\n\nMany people choose one of the following freely available browsers:
\n\n\n4.\nWill it cost me\nanything to participate? top
\nThere is no actual cost to participate, however the Tax Collector\nrequires a minimum deposit of $5,000 (per Bidder Number) or 10% of intended purchases,\nwhichever is greater, to be posted through the auction website.
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\n5. How can I learn more about how to use the auction website? top
\nBidMiamiDade.com 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.
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\n6.\nWhat are the\nadvantages of an Internet tax sale? top
\nIf you are a bidder:
\n\nFor the Tax Collector:
\n\n7.\nHow do I get started? top\n
    \n
  1. Register on the website to receive a personal ID and\nPassword.
  2. \n
  3. Review the Self Demo.
  4. \n
  5. Complete and submit online IRS Form W-9.
  6. \n
  7. Submit security deposit, as required.
  8. \n
\n8.\nWhat is a Batch? top
\nBatches are auction subgroups of the Advertised List that serve as a\nmeans of organizing tax certificates for the purpose of facilitating\nbid submission. Each tax certificate in each Batch is auctioned\nindependently of every other tax certificate and arranged in sequential\norder with a unique auction closing time for each Batch.
\n
\n9.\nWhen are my bids due? top
\nBids can be submitted on the web site once the Advertised List is\npublished on the Internet, usually in early May. Bids can be withdrawn\nor altered at any point up to the closing of the Batch.
\n
\n10.\nWhat is Proxy bidding? top
\nIt is a form of competitive sale in which bidders input the minimum\ninterest rate they are willing to accept for each certificate they\nwould like to purchase. At the close of each batch, the auction system,\nacting as an electronic agent for each bidder, compares minimum\nacceptable rates entered by all bidders for each individual\ncertificate. When there is more than one bidder, the final bids consist\nof the minimum rates entered by all bidders except the winner, whose\nfinal bid will be equal to the second lowest minimum rate minus 0.25%,\nunless there is a bid at 0%, in which case the winner will be awarded\nat 0%.
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\nIn the case of a tie at the winning bid rate, the system awards to one\nof the tie bidders through a random selection process using a random\nnumber generator.
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\nIn no case will a bidder be awarded a certificate at a rate lower than\nhis specified minimum acceptable rate.
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\nCertificates that receive no bids will be struck to the county at 18%.
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\n11.\nWhat happens if the\ndelinquent taxes are paid after my bid is submitted but before the\nbatch closes? top
\nThe Tax Collector will accept payments through the beginning of the\nsale on June 15 so it is possible that you may have entered a bid\nfor an item that eventually is not offered for sale. The website is\nupdated daily to reflect all payments received. If the payment was\nreceived prior to the start of the sale, the certificate is canceled,\nwinning bids on certificates for which taxes have been paid, either\nbefore or after a batch closes, will be invalidated and winning bidders\nwill receive a credit to the unused portion of their budget or a refund.
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\n12.\nHow do I submit my\nsecurity deposit and pay for certificates purchased? top
\nSecurity deposits and certificate purchases will be paid via ACH\n(Automated Clearinghouse) debit. Pursuant\nMiami-Dade\nCounty Administrative Order 4-86 and Section 68.065, Florida Statutes,\nreturned payments shall be subject to an administrative fee of up to\nfive percent (5%) of the returned payment (minimum $25.00). If your\npayment is returned for any reason, a 5% penalty will be due when you\nmake a replacement payment. Payments may be returned for issues\nincluding, but not limited to, the entry of incorrect account\ninformation or non-sufficient funds. Please verify that your account is\neligible for ACH debit and the account information is correct before\nyou authorize payment.
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\n13.\nWhat is an ACH Debit? top
\nAn ACH debit is an electronic funds transfer from your bank account,\ninitiated by the Tax Collector with your prior authorization. For more\ninformation on ACH, please visit the NACHA, the Electronic Payments\nAssociation at www.nacha.org.
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\nFunds must be drawn from a US financial institution. Some types of\nmoney market, brokerage, and/or trust accounts cannot accept ACH\ndebits. Please check with your financial institution prior to\ninitiating payment on the web site.
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\n14.\nWhen do Bidders have\nto pay the amount due for their purchases? top
\nAfter 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 17, 2020. 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 3:00 PM on June 17, 2020. 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.
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\n15.\nWhat happens if I\nfail to pay the balance within the period indicated? top
\nIf 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.
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\n16.\nWhat happens to my\ndeposit if I don't win any certificates or if my deposit was more than\nI was awarded? top
\nIn either case, any unused portion(s) of the deposit will be refunded\nby check or ACH to your bank account.
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