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Bidding Rules

         

        

PRINCE GEORGE'S COUNTY

ASSIGNMENT SALE
RULES


THE ASSIGNMENT SALE – ONLINE SALE FOR REGISTERED BIDDERS FROM THE MAY 9TH SALE ONLY

The online Assignment Sale is open to bidders of the Limited and the Public 2022 Tax Sale auctions.  PROSPECTIVE BIDDERS SHOULD INVESTIGATE THE PROPERTIES PRIOR TO SUBMITTING A REQUEST TO OBTAIN THE ACCOUNT. There is no warranty, expressed or implied, that a property has a marketable title, that it contains the area of land described therein, that the property does not contain faults that would be fatal to tax sale foreclosure, or that the true market value of the property bears any relationship to the assessment stated therein.  The purchaser agrees to assume all risks in regard to these and all other matters pertaining to the property, its condition, title, location, or marketability and each and every property at the tax sale is sold “AS IS”.  Purchasers will be entitled to a certificate of sale as required by law.

In the event a tax sale of a particular property is subsequently invalidated by the Collector, the tax sale purchaser will receive a refund of the amount paid at Tax Sale, but will receive NO redemption interest, or reimbursement of attorney fees, title search, or other costs.  
 
The County shall offer tax lien certificates on individual properties via an Internet-based sealed direct bid auction as provided for in the Annotated Code of Maryland, Tax Property Article, Section 14-817.  This is NOT a live auction.  Properties will be sold for the exact advertised price (taxes due).  No later than the close of business on the day of the Assignment Sale, the bidder/purchaser is required to pay the full amount advertised (taxes).

Each parcel of property offered at the assignment sale will be sold as an entirety (Section 14-814). When sold, the County’s lien on the property passes to the bidder/purchaser (Section 14-817). 

ALL TAX SALE BIDDERS/PURCHASERS ARE SUBJECT TO THE FOLLOWING STEPS PRIOR TO BEING PERMITTED TO BID IN THE AUCTION:

1.Only bidders that registered in the 2022 tax sale via the website before April 21, 2022, will be eligible for the online Assignment sale: https://taxsale.princegeorgescountymd.gov.  Bidders who previously registered for the 2022 Tax Sale will automatically be registered for the Assignment Sale.  No additional registration is required. No online assignment sale for 2022.
2.No mail-in or email registrations will be accepted. The registration is closed for 2022.  The over-the-counter sale will be posted online after June 1, 2022, for anyone who wants to purchase a certificate - Assignment Sale is by email only - no registration need

3.Accept all terms in the “Tax Sale Information and Procedures” and the “Assignment Sale Rules”.
All bids shall be submitted on the website. Bids can be submitted on TBD, 2022 starting at 9:00 a.m. There will only be one batch available on the website.  The batch will close at 10 am on TBD, 2022.  The list of properties will be available TBD, 2022. 
Certificates will be awarded on a first-come, first-served basis on TBD, 2022. Each tax certificate in the batch is offered independently of every other tax certificate in the batch.  

Certificates will be grouped into one batch and accounts will be awarded to the bidder who is first to submit their tax bid.  The batch will open at 9:00 a.m. EST.  Acceptance of bids will end at 10:00 a.m. EST. 

Bids will be submitted as a dollar value and shall not exceed the total amount of taxes due.     


All bids must be made in good faith.  All bids placed, whether intentional or not, are the responsibility of the bidder and may not be withdrawn. Should a successful bidder not make full payment for any or all of the certificates awarded in the tax sale, they will not be awarded any certificates and may be prohibited from participating in future tax sales.  The certificates will be awarded to the first bidder.  All bidders are required to monitor their auction account to ensure funds for successful bids are available for payment at the close of the auction.  

Each successful bidder will receive an invoice via email by 12:00 p.m. EST on the day of the assignment tax sale.  Guaranteed funds in the form of wire transfer, cashier’s check must be received for payment of the total amount of awarded bids, plus any associated high bid premium.  Cashier’s checks must be delivered to the Prince George’s County Office of Finance at 1301 McCormick Drive Suite 1100 Largo, MD by 3:00 p.m. EST the day of the tax sale.  Wire transfers must be sent according to the instructions provided in the invoice and must be received in the County’s bank account by 5:00 p.m. the day of the tax sale.  The County will confirm with its bank the receipt of the payment.  The County will send an e-mail confirmation acknowledging receipt of the wire transfer.

Successful bidders are required to complete and return IRS Form W-9, Request for Taxpayer Identification Number, and Certification.  Bidders must also complete an Authorization for Electronic Funds Disbursement form for ACH payments. Redemption payments will be sent via Electronic ACH.  No check payments will be issued for redemption payments.

The County will provide tax sale purchasers with IRS form 1099-INT, Interest Income paid, as required by law.


The tax sale purchaser and his/her attorney agree to the following:

1.Provide to the Treasurer’s office the number of a manned telephone (a phone that will be answered during business hours by a staff member, not a voicemail.
2.Notify the Treasurer’s office when you need to add an attorney’s information to your accounts.
3.Provide to the party attempting to redeem the property from tax sale an itemized list of the full amount due for legal fees and expenses within two business days of the request.
4.The tax sale purchaser and his/her attorney also agree to provide to the redeeming party a written release immediately upon receipt of the fees and expenses.  A copy of which shall be emailed or faxed immediately to the Treasurer’s office email: TAXSALE@CO.PG.MD.US fax: 301-952-4261.  Failure of the purchaser or his/her attorney to comply with these requirements may result in the purchaser being barred from future sales.                    


August 1, 2022 - Over the Counter Assignment sale will begin.  Properties will be posted on the website on August 1, 2022.  Property can be brought at tax value only and will be sold on a first request base. Send an email request to TAXSALE@CO.PG.MD.US after August 1, 2022, with the account number of a property from the list that you want to purchase.


ADDITIONAL INFORMATION
Questions regarding the tax sale policies may be directed to the Tax Sale Unit of the Prince George's County Treasurer’s Office @ 301-952-3948 or by email at taxsale@co.pg.md.us.

3/16/2022

 
 
 
All bids must be made in good faith. All bids placed, whether intentional or not, are the responsibility of the bidder and may not be withdrawn. Should a successful bidder not make full payment for any or all of the certificates that are awarded in the tax sale, including any associated High Bid Premium, they will not be awarded any certificates and they may be prohibited from participating in future tax sales. The certificates will be awarded to the next highest bidder. No budgets will be established for the purpose of determining the maximum amount allowable for the purchase of certificates. All bidders are required to monitor their auction account to ensure funds for successful bids are available for payment at the close of the auction. Please be aware that your information provided may be subject to disclosure pursuant to the Maryland Public Information Act (MPIA).
 

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