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Q. |
When will your next tax sale be held? |
A. |
The next delinquent tax sale will be held on November 9, 2012. |
|
Q. |
Where is it held and what time does it begin?
|
A. |
The county tax sale is held in the 7th floor conference room of
the Stewart Centre, located at 50 W. Douglas St., Freeport, IL 61032.
The sale will begin at 10:00 a.m.. |
|
Q. |
When and where do you advertise for the sale?
|
A. |
The tax sale is advertised in the Freeport Journal Standard at least
10 days before the day of the tax sale. |
|
Q. |
Can you send me a list of the liens that will
be available? |
A. |
Tax sale lists are available by either email or paper form approximately
one month before the sale occurs. The cost for an email list is $50.00;
a paper list is $60.00. This fee must be paid before a list will be
sent to you. |
|
Q. |
Do I need to register for the sale and is there
a fee for this? |
A. |
You are required to have your tax buyer registration form on file
in our office 10 business days prior to the tax sale. Please use our
Stephenson County Tax Buyer Registration form, which you can request
by calling our office or emailing the Treasurer at abecker@co.stephenson.il.us.
Along with the form, a $200 deposit is also required to participate.
This must be paid when the tax buyer registers. This deposit will
be kept in the event a tax buyer is registered and does not attend
the tax sale. If the tax buyer registers and attends the sale, but
does not purchase any taxes, those dollars are refunded. Finally,
if a tax buyer attends the sale and purchases taxes, that deposit
is applied to the purchase. |
|
Q. |
What form of payment do you accept? |
A. |
Certified funds are required for first-time buyers. If you are not
a first-time buyer, personal, business or cashier’s checks are accepted.
Taxes must be paid immediately after the close of the tax sale. |
|
Q. |
What happens to the liens that are not sold
at the auction? |
A. |
All of the liens are sold at the tax sale. For details on the availability
for purchasing tax lien certificate over-the-counter or through assignment
purchasing, please contact: J. Meyer & Associates, Stephenson
County Trustee at 618-656-5744
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|
Q. |
Will the tax sale be final? |
A. |
Yes. |
|
Q. |
Do you have any sales scheduled after the next
one coming up? |
A. |
The tax sale only occurs once per year. |
|
Q. |
Can I bid without attending (via mail or a
representative)? |
A. |
You or your registered representative must be physically present
at the sale to bid. You cannot bid via mail. The sale is conducted
in an open, auction format. |
|
Q. |
Can you provide me with a list of property
use codes? |
A. |
The County Assessment Office can assist you with property use codes. |
|
Q. |
If I end up with a property, does the county
handle the foreclosure process? |
A. |
It is the tax buyer’s responsibility to follow the procedures necessary
to acquire a deed. |
|
Q. |
Will all other liens be cleared from the property
as a result of the sale? |
A. |
No, the tax sale does not clear any liens from the property. |
|
Q. |
Is a copy of the county and state statutes
and rules regarding the tax sale available for purchase? |
A. |
The Illinois Compiled Statutes are available at your local library
or online at www.ilga.gov. |
|
Q. |
Where do I call for redemption information? |
A. |
Please contact the Stephenson County Clerk's Office at 815-235-8289. |
|
Q. |
How is the tax sale conducted? |
A. |
The tax sale process is computerized using R.A.M.S. (Real-time
Auction Management System) Auction software. We ask each tax buyer
to visit the R.A.M.S. tutorial at http://www.ramsauctions.com/demo/RAMS%20Tutorial.html
prior to the sale date to either learn the format or refresh their
memory on how the sale is conducted.
The sale is similar to a reverse auction. Registered tax buyers
bid a percentage rate with a cap at 18%. The tax buyer accepts the
lowest bid to win. The homeowner has a period of 3 years to redeem
(buy back) their taxes. Registered tax buyers make a profit from
the interest earned. The interest earned depends on the length of
time it takes for the homeowner to redeem their taxes.
In order to place a bid at the sale you must be a registered tax
buyer. We cannot and do not provide legal answers to your tax buying
questions. You may want to contact the Stephenson County Bar Association,
and request a referral to an attorney who concentrates on real estate.
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