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Frequently\n Asked Questions
\n Nassau County Tax Lien Sale
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Basics | The\n Tax Lien Sale | Using the\n Auction Site | Tax Liens
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\n BASICS
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\n What is a tax lien?
\n A tax lien represents a first lien against real estate (not the owner).\n The tax lien sale is NOT a sale of real property.
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\n It is your sole responsibility to research any tax lien certificates\n you intend to buy. You can see additional property and tax information\n for any item by clicking on the Account or Parcel Number on the auction\n web site. Research any advertised items carefully before submitting\n bids. There are potential risks associated with tax lien purchases.\n Each bid submitted represents a binding offer to purchase a lien from\n the Treasurer, and purchases in the tax lien sale are final.
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\n When does the tax lien sale take place?
\n The sale takes place the third Tuesday of February each year. Registration\n and submission on BidNassauCountyNY.com begins in late January or early\n February.
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\n In late January or early February:
\n \n On the day of the sale (the third Tuesday in February):
\n \n For exact dates, please see the Auction\n Schedule. All activity related\n to registration, bidding, and lien awards takes place on the auction\n web site.
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\n How do I register for the sale?
\n All bidders who wish to participate in the sale must perform the\n following steps on the auction web site:
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\n Please note: If you have participated in previous Nassau County lien\n sales, you have a Tax Sale Buyer number and must continue using that\n number. If you plan to register under a different entity, follow the\n procedure below and a new Tax Sale Buyer Number will be assigned.
\n \n Please note that you can only submit or modify your W-9 during the\n registration period from late January through early February. You will\n be assigned a Tax Sale Buyer Number after you successfully submit your\n W-9.
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\n How do I pay my deposit?
\n Deposits are accepted by ACH initiated on the auction web site and must\n be made before bids can be submitted. Please note that you can only submit or add to your deposit during the registration period.
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\n How do I submit my bids?
\n You can submit your bids on the Bid page individually, as a group\n (using a saved list), or via a file upload. You must complete all the\n registration steps before you are allowed to submit bids.
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\n How do I pay for lien purchases?
\n Payment must be made by ACH using the Pay for Certificates button on\n the My Account page. The button is activated once the last batch in the\n sale closes and any final data updates are complete. The deadline to\n pay is listed on the Auction\n Schedule. If you fail to pay by the\n deadline, you will forfeit your security deposit and lien purchases.
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\n What is an ACH debit?
\n An ACH debit is an electronic payment from your checking or savings\n account. When you enter your bank account information and submit\n payment on the auction web site, you are authorizing the treasurer to\n debit your account for the amount you indicated. All payments are sent\n for processing immediately. Additional information is available on the\n page where you authorize payment.
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\n Funds must be drawn from a U.S. financial institution. Some types of\n money market, brokerage, and/or trust accounts cannot accept ACH\n debits. Please check with your financial institution prior to\n initiating payment on the web site.
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\n THE\n TAX LIEN SALE top
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\n What is the auction process?
\n Liens are sold in the order advertised. Bidding begins at 10 percent\n (the maximum rate) and bids down in decrements of one-quarter of one\n percent. Each lien is sold individually to the bidder offering the\n lowest interest rate. In the case of a tie at the lowest rate, the\n winner will be selected using a random number generator in the auction\n software. Items that receive no bids are \"struck\" to the county and\n become county-held liens. Bids are accepted at 0.00% (zero), but liens\n awarded at this rate WILL NOT accrue interest. Bids at 0.00% will not\n be treated as Proxy bids even in sales using Proxy Bidding.
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\n Is there a cost to participate?
\n The registration fee is $175.00. This fee is paid to the Treasurer\n through the auction web site and is non-refundable. Successful buyers\n will also be required to pay a $20.00 fee per lien purchased in\n conjunction with payment for the balance due at the end of the sale.
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\n What is a batch?
\n A batch is a subgroup of the list of auction items. The list is divided\n into batches to make the bidding process more efficient, and enable\n participants to manage their bids and budgets.
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\n Do I have to bid on all the items in a\n batch?
\n No. Each tax lien in each batch is auctioned independently of every\n other tax lien.
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\n What happens to my security deposit if\n I don't win any liens?
\n The Treasurer will issue refunds after the close of the sale. Refunds\n of ACH payments will be made electronically to the account you used to\n submit the deposit. You will receive an email confirmation when the\n refund is initiated.
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\n How do I receive my tax lien\n certificates?
\n The Treasurer will mail paper certificates to buyers after they pay the\n auction fees and balances due for their purchases.
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\n How can I get a list of my liens after\n the sale?
\n To review and download a list of your winning bids:
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  1. Log in to the auction web site
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  3. Enter the relevant tax lien sale
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  5. Click on the Results tab
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  7. Select \"All Certificates\" from the Certificate Lists menu
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  9. Select \"All Batches\" from the Batches menu
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  11. Select your buyer number from the Bidder menu
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  13. Select \"Winning Bids\" from the Results menu
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  15. Check \"Hide Removed Certificates\"
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\n After completing these steps you will see a list of your purchases. You\n can download the list in Excel, or comma-separated values format (CSV),\n by clicking the icons on the right-hand side of the page above the list\n of liens.
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\n USING\n THE AUCTION SITE top
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\n I forgot my password. What should I do?
\n Click \"Forgot your password?\" on the Sign In page. Answer a security\n question and the system will send you an email with a link to reset\n your password.
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\n I forgot my User ID. What should I do?
\n Click \"Forgot your User ID?\" on the Sign In page. You will be prompted\n to enter the email address associated with your ID. The system will\n send you an email to that address with your User ID.
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\n What is Proxy Bidding?
\n In a live auction, bidders lower their bids by quarter percent\n decrements until they are the only bidder left or until the interest\n goes below their acceptable minimum level, at which point they would\n drop out.
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\n Proxy bidding is a form of competitive sale in which bidders enter the\n minimum interest rate that they are willing to accept for each lien.\n The auction system acts as an electronic agent, submitting bids on\n behalf of each bidder until their minimum bid rate is met. Using the\n proxy system the electronic agent keeps lowering your bid by quarter\n percent decrements until you are either the only bidder left, (in which\n case you get the lien at a quarter percent lower than the previous bid)\n or until you reach the floor you have set. Note:
\n \n Does my budget amount limit the number\n of bids I can submit?
\n No. You can submit an unlimited number of bids regardless of your\n budget amount. However, you will not be awarded an item if the award\n would cause the value of your purchases to exceed your budget amount.
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\n Is my budget amount automatically 10x\n my deposit amount?
\n No. The maximum allowable budget you can set is 10x your deposit\n amount, but you must enter your budget amount. You can modify your\n budget any time before the end of the sale, as long as you have at\n least $5,000 or 10% of the amount submitted as your deposit.
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\n Where can I find sale results?
\n You can see results by logging in to the auction web site, entering the\n auction, and clicking on the Results tab in the upper right-hand part\n of the page. Clicking on the winning bid for any lien will display a\n list of all submitted bids in a new window.
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\n What equipment or software do I need\n to be able to participate?
\n In order to use the auction web site you need an Internet connection\n and modern web browser with JavaScript and cookies enabled.
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\n Many people choose one of the following freely available browsers:
\n \n If I have a question about how to use\n the web site, whom do I contact?
\n Contact Grant Street Group by email at LienHub@GrantStreet.com,\n or\n by phone at (866) 247-4370, between 8:00 a.m. and 5:00 p.m. EST on\n business days.
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\n TAX LIENS\n top
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\n How do I receive redemption funds?
\n All liens purchased at the 2020 sale may be redeemed by the\n property\n owner or interested party at any time prior to either the Treasurer's\n issuance of a tax deed or the commencement of a foreclosure action in\n court. Neither of these events can occur before February 19, 2021 at\n the earliest. All redemption payments will be charged the total\n interest rate due at the time of payment. The County Treasurer will pay\n you the appropriate interest for your lien paid by the property owner\n or interested party. The interest collected will be in accordance with\n the provisions of the Nassau County Administrative Code which call for\n the same rate as bid at sale for the first twenty-four month period\n calculated at six-month intervals beginning February 18, 2020. In cases\n of one-year hardship extensions, interest on the lien for the 25th\n month through the 36th month will be at five percent per six-month\n period of time.
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\n Can I pay the taxes and own the\n property?
\n NO. You have not purchased the property. A tax lien does not convey any\n property rights or ownership to the lien holder.
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\n Are tax liens transferable?
\n Certificates can be transferred by completing an Assignment Form, W-9,\n Conflict of Interest form and paying the applicable fees through the\n Treasurer's office.
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