Tax Auction | Auction Terms | Frequently Asked Questions
The Last Tax Auction was - Saturday, Oct. 27th at 10:00am
See you next year!
Terms of Auction
Wyoming County will sell at public auction various parcels of real property, which have been conveyed to the County of Wyoming by Article 10 & 11 of the Real Property Tax Law. This sale is ordered by various resolutions of the Wyoming County Board of Supervisors and is in accordance with the appropriate provisions of the Real Property Tax Law and section 215 of the County Law.
1. All sales are made subject to confirmation by the Wyoming County Board of Supervisors at their next regular meeting following the auction.
2. Any Property Owner whose property is in the foreclosure auction may not bid on their property.
3. A ten percent (10%) buyers premium will be added to each parcel purchased. At closing the purchaser shall be responsible for the payment of the purchase price and any closing costs.
4. On the day of the auction a non-refundable deposit of ten percent (10%) of the total purchase price or $100.00, whichever is higher, will be required. (The total purchase price is the combination of the bid price and the 10% buyer’s premium). Payment to be made by CASH, MONEY ORDER or CERTIFIED BANK CHECK - NO EXCEPTIONS. The successful high bidder will endorse the certified funds to WNY Metro Zientek Realty. Personal checks WILL NOT be accepted.
5. The balance shall be paid on or before Friday, December 7, 2007 by cash or certified check to the Wyoming County Treasurer. The deeds will be available from Monday, November 26, 2007 until Friday, December 7, 2007 between the hours of 9:00 a.m. and 5:00 p.m. unless extended by the Board of Supervisors.
6. The Treasurer's Office will send one notice to the successful bidder notifying them of the Board of Supervisors approval, the balance owed and recording fees. If the purchaser fails to pay the balance of the purchase price on or before December 7, 2007, their offer shall be considered canceled, the down payment shall be forfeited, and the 2nd bidder will be notified and offered the parcel pending approval of the Board of Supervisors. If the 2nd bidder is not interested in the parcel, the property may be sold without regard to the auction sale.
7. Upon full payment the County of Wyoming will deliver a standard form tax deed which will describe the parcel and convey all of the rights, title and interest of the County of Wyoming into the parcel. The County of Wyoming will execute no warranties concerning the parcel or the title and will not deliver or be responsible for abstracts, title searches, surveys, maps or other documents concerning the parcel whatsoever. All deeds shall be executed in the name of the person or persons listed on the purchase contract.
8. The deed shall contain a condition that Wyoming County shall in no event be or become liable for any defect in the title for any cause whatsoever, or that no claim shall ever be made against Wyoming County arising from the sale.
9. All parcels are sold subject to the 2007-2008 Village Tax levied in June 2007 & School Tax levied in September 2007. The Village & School tax bills will be re-levied on the January 1, 2008 Town and County tax bill.
10. At closing the purchaser shall also deliver to the Treasurer a check for all recording fees, which may be required by the Wyoming County Clerk for recording the deed.
11. The successful and confirmed purchaser shall take the parcel "as is subject to tenants rights" upon delivery of the above stated deed, in such condition as exists at the date and subject to all claims and covenants, easements and restrictions on record.
12. The Board of Supervisors reserves the right to set minimum opening bids on any or all parcels. The minimum opening bid has been set at $100.00.
13. The purchaser shall not take possession of nor enter upon the purchased parcel until the deed has been executed and recorded by Wyoming County.
14. "ALL PROPERTIES ARE SOLD SUBJECT TO THE RIGHT OF REDEMPTION OF THE UNITED STATES OF AMERICA."
Frequently Asked Questions
- As a purchaser of a tax delinquent property, will I be responsible to repay the past due real estate tax?
- Can I make an inspection of the property prior to the auction?
- Then how will I know the condition of the property without inspecting it?
- What is the starting bid going to be?
- When does Wyoming County hold their tax auction?
- What does the term "assessed value" mean?
- Who is responsible for the eviction of any delinquent owners or tenants?
- When can I move into or start work on the property?
- If I purchase a real property that contains personal property, do I own the personal property?
- How do I legally dispose of personal property left behind on a real property that I purchase?
- Why do properties get removed from the auction?
- What happens to liens (mortgages, etc.) that are owed against the property?
- What happens if an improved property that I purchase is damaged between the date of the auction and the time that I close on the property?
- What happen if I cannot get financing for the balance owed at closing?
- What is required as a down payment on auction day?
- What happens to the properties that do not sell at the auction?
- Where can I get a bidder's catalogue?
- What is a 10% buyer's premium?
- What type of deed does the County convey at closing?
1. As a purchaser of a tax delinquent property, will I be responsible to repay the past due real estate tax?
No. As a purchaser you will not be responsible for any back taxes owed on the property you purchase. The County forgives these back taxes for the new purchaser.
2. Can I make an inspection of the property prior to the auction?
No. The County cannot give you permission to personally inspect the property.
3. Then how will I know the condition of the property without inspecting it?
Buying property at a tax auction is a bit of a gamble. Many of the homes sold are currently occupied making inspections difficult. Typically you will be making your decision to buy and how much to pay based on what you can see from the road. On the other optimistic side, you may end up with a diamond in the rough.
4. What is the starting bid going to be?
The minimum acceptable bid for each parcel is $100.00. So the starting bid could be as low as $100.00. It all depends on where someone wants to start the bidding.
5. When does Wyoming County hold their tax auction?
This auction is held once a year and is always the last Saturday in October.
6. What does the term "assessed value" mean?
This is the value the local assessor has placed on the property for tax purposes. The property could sell for more or it could sell for less than the assessed value.
7. Who is responsible for the eviction of any delinquent owners or tenants?
Wyoming County will not evict the owners or the tenants. Therefore it is the responsibility of the purchaser.
8. When can I move into or start work on the property?
Legally you do not own the property until the deed has been recorded in the County Clerk's Office. Only then can you enter onto a property.
9. If I purchase a real property that contains personal property, do I own the personal property?
No. In tax foreclosure auctions, the County is selling only the title of the real property. The title of the personal property still belongs to the delinquent taxpayer.
10. How do I legally dispose of personal property left behind on a real property that I purchase?
We strongly suggest that you talk to your attorney regarding this issue before you dispose of any personal property left behind.
11. Why do properties get removed from the auction?
Under special circumstances the Wyoming County finance committee will allow property owners to pay their back taxes owed on the property. This will happen only rarely but it can occur. Watch our web site for the most current and up to date list.
12. What happens to liens (mortgages, etc.) that are owed against the property?
The process the County follows to foreclose on a property wipes out any liens that are against a property. There is one exception and that is a Federal Tax Lien (IRS). In the case of a Federal Tax Lien the IRS has up to 120 days after the auction to purchase the property from the successful purchaser for the amount purchased plus any closing fees if they so desire.
13. What happens if an improved property that I purchase is damaged between the date of the auction and the time that I close on the property?
Wyoming County will generally work with a successful purchaser if it can be proven that the damage occurred between the date of the auction and the date of closing. If the property had been occupied and no inspection was made prior to the auction, then it might be difficult to determine when the damage was done.
14. What happen if I cannot get financing for the balance owed at closing?
If you fail to pay the balance at closing, you forfeit your deposit and the County may resell the property.
15. What is required as a down payment on auction day?
If you are the highest bidder you will be required to put a deposit equal to 10% of the purchase price. This deposit is to be in cash or certified funds. NO PERSONAL CHECKS.
16. What happens to the properties that do not sell at the auction?
Generally we sell all of the properties that are put up for auction.
17. Where can I get a bidder's catalogue?
Catalogues are available and are free if you pick them up at our office at 357 West Main Street, Arcade, NY or at the Wyoming County Treasurer's Office located at 143 North Main Street, Warsaw, NY. To receive a catalogue by mail send $5.00 to WNY Metro Zientek Realty and we will send you one. A single page flyer can be mailed to anyone who requests, free of charge.
18. What is a 10% buyer's premium?
This year as in years past we will be using a buyer's premium. Simply put - if your final bid is $1,000.00, a 10% buyer's premium will be added to your final bid price making the actual purchase price of $1,100.00.
19. What type of deed does the County convey at closing?
The County used a standard form tax deed (similar to a quit claim deed).