Carroll County, Indiana

TAX SALE PROCEDURE 1. Fill out bidder registration information at www.sri-taxsale.com. 2. You will receive confirmation of your registration at step 4 of the registration and will receive a registration number. 3. When you arrive at the sale location you will present your registration W-9 form and you will be given a bidders card prior to the start of the sale. Make sure there is sufficient time to be given your number prior to the start of the sale. 4. Use your Bidder Registration Card to signal your bid. When your bid has been accepted, show your Bidder Registration Card number to the auctioneer. 5. After your bid is accepted or at the conclusion of the sale, a Bid Verification and Receipt Form will be printed. A representative will deliver the form to you for your signature. After you have signed the form, it will be taken to the Treasurers Office and held until you pay the amount bid. 6. When you have completed your bidding and have signed your bid verification forms, you will go to the Treasurers office to pay the amounts bid. The Treasurer will give you a receipt for each lien purchased. A tax sale certificate will be mailed to you at the address in your registration information. TAX LIEN PURCHASER INFORMATION 1. Submit a successful bid for an amount equal to or greater than the minimum sale price indicated on the sale list and advertised in the newspaper entered against the property. Deliver the full amount of your bid in cash or other certified funds accepted by the County Treasurer. 2. Receive a signed receipt of payment from the County Treasurer for the amount bid. 3. Receive a signed Tax Sale Certificate including the property identification number, legal description, owners name(s), purchasers name, the amount for which the lien was sold (amount paid in taxes, penalties, fees and surplus), date of sale, the date the purchaser is first entitled to request a deed to the property (earliest date is one (1) year from date of sale.), minimum bid amount cause number under which the judgment was obtained, and the street address of the property. 4. Not less than three months prior to the expiration of the redemption period (12 months from the date of sale), the purchaser must send a Notice of Sale to the owner and any person with a substantial interest in the property. The Notice must include all the information required in IC 6-1.1-25-4.5. The Tax Sale Certificate does not convey ownership to the property. Ownership County Auditor pursuant to will be conveyed through a Tax Deed issued by the the statutory requirements. It is recommended that the Tax Buyer initiate a Title Search on the subject property to identify the legal owner and any persons with a substantial interest of public record prior to sending this notice by certified mail. If the property is redeemed, the Owner will be required to reimburse you for your actual paid title search expenses, not exceeding the amount established by the county, if you file a form 137B with the Auditor property. prior to the date the owner redeems the 5. Present a verified petition to the court that issued the original judgment for delinquent taxes and penalties on the property asking the Court to order the County Auditor to issue a Tax Deed if the property is not redeemed from the sale by the redemption period expiration date. (For additional information, see IC 6-1.1- 25.4.6). (SEE DISCLAIMER ON COVER PAGE) 3 6. During the period between tax sale date and the expiration of the redemption period and prior to the issuance of a deed, the buyer may pay all taxes, assessments, penalties and costs due for the property. Immediately upon paying for any additional costs, etc., report the payment to the county auditors office with the receipts to record them. These costs must be filed on a Form 137B. You may not be reimbursed unless you follow this procedure. Any costs incurred for notification and title search will not be reimbursed for an amount exceeding that set forth by the county. 7. Present the court with proof that the time for redemption has expired. Also provide copies of all notices given to the owner and any person with a substantial interest in the property including supporting documents. (postal certified mail receipts, etc.) 8. Present the court with evidence of payment of all taxes, assessments, penalties and costs, both at sale and subsequent thereto, and other evidence of compliance with statutory requirements as the court may require. 9. Present the court with a copy of the Tax Sale Certificate. 10. Receive Court Order directing County Auditor to prepare tax deed. 11. Present the Court Order and Tax Sale Certificate to the County Auditor and receive tax deed for the property within 30 days. 4 IF THE OWNER REDEEMS THE PROPERTY The property may be redeemed at any time prior to one year from the sale date. When a tax sale property is redeemed, the Auditor will notify the purchaser and ask that the Tax Sale Certificate be delivered to the Auditor's office as soon as possible. Within four weeks of the date the Tax Sale Certificate is received by the Auditor, the purchaser will receive a refund equal to 110% of the minimum sale price and 10% per annum of the amount by which the purchase price exceeds the minimum sale price, if redeemed within the first six months from date of sale; or 115% of the minimum sale price plus 10% per annum of the amount by which the purchase price exceeds the minimum sale price if redeemed more than six months from the date of sale. In addition to the amounts stated above, the buyer will receive a refund for all taxes and special assessments on the property paid by the buyer subsequent to the sale plus ten percent (10%) per annum interest on those taxes and special assessments. An entry reflecting all transactions related to the Tax Sale of each property will be recorded on the Indiana Tax Sale Record (Indiana Board of Accounts Form 137). (SEE DISCLAIMER ON COVER PAGE) 5 PENALTIES FOR FAILURE TO COMPLY WITH TAXSALE STATUTES Failure to Pay Amount Bid. 1. If you fail to pay the County Treasurer in cash or certified funds, the full amount bid for the subject property by the deadline established by the County Treasurer on the date of the Tax Sale, your bid will be canceled and you will be subject to a penalty equal to twenty-five percent (25%) of the total amount bid. Also, you will not be permitted to participate in the 2008 tax sale. Failure to Give Adequate Notice to Owner. 2. If you fail to fulfill the requirements for issuance of a court order directing the Auditor to issue a tax deed, i.e., give adequate or timely notice or provide insufficient supporting documentation, the court may impose a penalty equal to twenty-five percent (25%) of the purchase price and refuse to accept your petition for a deed under IC 6-1.1-25- 4.6. Failure to Give Notification and/or Petition Court 3. If you fail to provide notice or provide insufficient notice as required by IC 6-1.1-25- 4.5, that is, you fail to notify the owner and persons with a substantial property interest of public record to the tax sale and date of expiration of the period of redemption, the court may impose a penalty equal to one hundred percent (100%) of your purchase price.