What happens during the auction?
Each item is offered, for exactly the amount of taxes, interest, and costs due, plus a $20 certificate fee. Whoever offers to pay that price is considered a bidder. It is a “bid-down” style auction in which bidders competitively bid down the percentage of an undivided ownership interest in the subject property from one hundred percent (100%) to one percent (1%). The purchase price does not change throughout the auction. The rate of interest on the purchase price that the winning bidder may receive upon redemption does not change throughout the auction. Bidders may not bid fractions of a percentage point. The lowest percentage of ownership interest bid will be the winning bid. If there are multiple bids at the same lowest percentage, i.e. ties, a random selection process will determine the winning bidder.