SALE OF TAX-FORFEITED LAND IN OLMSTED COUNTY
Terms and Conditions
PROPERTY INSPECTION
Bidders may
inspect the real property prior to bidding. A one-time Open House will be set
for residential homes/commercial properties. For other properties, please
contact the Olmsted County Revenue Office at 507-328-7666 to make
arrangements to view the property.
At the time of
auction's closing, each bidder will be presumed to have inspected the site and
to have read and to be thoroughly familiar with all plans, documents, including
any addenda included in the auction listing.
The failure or omission
of any bidder to inspect the site or examine any form, instrument or document
shall in no way relieve any bidder from any obligation in respect to their bid.
WAIVER OF
PROPERTY GUARANTEES
ALL PARCELS ARE
SOLD �AS IS�, WITHOUT WARRANTIES OF TITLE OR REPRESENTATIONS OF ANY KIND.
Olmsted County
makes no warranty, guaranty or representation of any kind, expressed or
implied, as to the condition, usability, value, or fitness for any purpose of
the property offered for sale. Buyer is not entitled to any payment for loss of
profit or any other money damages, including but not limited to special,
direct, indirect, or consequential damages.
NO WARRANTY AS
TO LEGAL DESCRIPTION
Olmsted County
is not responsible for any omissions or errors in the legal description of the
real property being offered for sale. It shall be the bidder's responsibility
to inspect and become familiar with the details and conditions of the real
property offered before entering a bid.
DISCLAIMERS
PERTAINING TO THE CONDITIONS SURROUNDING PROPERTY
Zoning
Properties sold
by Olmsted County are subject to local zoning ordinances. Please contact the
local zoning administrator to obtain copies of these ordinances. No structure
or part thereof shall be erected, constructed, moved or structurally altered,
and no land shall change in use until the local zoning authority has approved
and issued a land use permit pursuant to the requirements of its zoning
ordinances. All acreage amounts are approximate unless parcel has been surveyed
or platted in a legal subdivision.
Property
Interests
All sales are
subject to existing liens, leases, easements, deed restrictions, dedications,
and rights-of-way interests. Bidders who wish to review the chain of title for
the parcel(s) being auctioned are responsible for obtaining the proper research
prior to the auction.
Assessments
Any lands
offered for sale may be subject to unpaid assessments against the property.
Before purchasing, any prospective buyer should consult the City/Township Clerk
and the County with respect to any unpaid assessments that may exist. Any
assessments against the property for public improvements after the property
forfeited to the State shall be assessed against the property and paid for at
the time of purchase, pursuant to Minnesota Statutes, 282.01, Subd. 3. Any
municipality or other public authority is authorized to make a reassessment or
a new assessment to a parcel in an amount equal to the remaining unpaid
original assessment at the time of forfeiture (Minnesota Stat. 429.071, Subd. 4
and 435.23).
Restrictive
Covenants
Some
non-platted lands listed for sale may contain non-forested marginal land or
wetland as defined in Minnesota Statutes Section 282.018. The deed for these
parcels will contain a restrictive covenant, which will prohibit enrollment of
the lands in a state-funded program providing compensation for conservation of
marginal land or wetlands. Notice of the existence of non-forested marginal
land or wetlands will be available to prospective bidders upon request, if
applicable.
Wetlands
Olmsted County
has not performed any wetland delineation on parcels offered for sale unless
otherwise noted. No refunds will be made due to presence of wetlands officially
determined following the sale.
Lead
Some properties
may present exposure to lead from lead-based paint that may place young
children at risk of developing lead-based poisoning. If you are interested in
purchasing a single-family dwelling built prior to 1978, you have the right to
conduct a risk assessment or inspection for lead-based paint hazards, at your
expense, at least ten (10) days before the auction close date pursuant to the
federal Residential Lead Based Paint Hazard Reduction Act of 1992, Public Law
102-550. Contact the Olmsted County Revenue Office at 507-328-7666, to arrange
to see the property for such an inspection or assessment.
Radon
The Minnesota
Department of Health strongly recommends that ALL homebuyers have an indoor
radon test performed prior to purchase or taking occupancy and recommends
having the radon levels mitigated if elevated concentrations are found.
Elevated radon concentrations can easily be reduced by a qualified, certified,
or licensed radon mitigator. Every buyer of any interest in residential real
property is notified that the property may present exposure to dangerous levels
of indoor radon gas that may place the occupants at risk of developing radon
induced lung cancer. Radon, a Class A human carcinogen, is the leading cause of
lung cancer in nonsmokers and the second leading cause overall. The seller of
any interest in residential real property is required to provide the buyer with
any information on radon test results of the dwelling. Olmsted County has not
performed and is not aware of any radon testing on parcels offered for sale
unless otherwise noted. Therefore, there are no radon records available, and
the radon concentration levels on the parcels offered for sale are unknown. The
County will provide a copy of the Minnesota Department of Health�s Radon in
Real Estate Transactions publication to any purchaser of residential tax
forfeited property upon request.
Access
Olmsted County
MAKES NO REPRESENTATIONS, WARRANTIES, OR GUARANTEES WITH RESPECT TO ACCESS TO
STATE TAX FORFEITED LANDS SOLD. ALL LANDS ARE SOLD AS IS, WITHOUT WARRANTIES OR
REPRESENTATION OF ANY KIND.
REQUIREMENTS TO BECOME A VALID BIDDER
RESTRICTIONS ON BIDDERS
If you are
interested in purchasing tax-forfeited property on public auction, you must pay
all your delinquent taxes on any properties you own in Olmsted County prior to
purchasing or bidding.
No one who
could have repurchased a parcel of tax-forfeited land may purchase that same
parcel of property at a public sale.
PROHIBITED
BIDDERS - GENERAL
Per Minnesota
Statutes Section 282.016, if any person or entity, or entity controlled by such
person, is 1) a prohibited purchaser or bidder,�
2) said person or entity is delinquent on real or personal property
taxes in Olmsted County, 3) the person or
entity has held a rental license in the County and the license has been revoked
within the last five years; or 4) the person or entity has been the vendee of a
contract for purchase of a property offered for sale under Chapter 282 of the
Minnesota Statutes, which contract has been canceled within the last five
years, the County may bar that person from purchasing or attempting to purchase
the property.�
PROHIBITED
BIDDERS - CONFLICTS OF INTEREST
Olmsted County
officials/employees are prohibited from using privileged government data
obtained through their position to further their own private interests.
As per
Minnesota Statute 282.016, the direct or indirect purchase of tax forfeited
land by individuals employed within the Property Records and Licensing
Department that carry out the County Auditor�s duties, within the County
Finance Department that carry out the County Treasurer�s duties, County
Attorney�s Office, Court Administrator of the District Court, or County Assessor�s
Office, is prohibited.
AUCTION RELATED
INFORMATION AND INCLUDED COSTS
Bidding
Properties must
first be offered at a public auction. All property will be sold to the highest
responsible bidder. Bidding will begin at the minimum bid specified. The
minimum bid is equal to the estimate market value or sum of delinquent taxes,
special assessments, penalties, interests and costs assigned to the parcel.
Withdrawal
The right to
withdraw or add any parcels to this list is hereby reserved by the County
Auditor and all sales will be considered FINAL.
Extra Fees and
Costs
The County
Auditor shall charge and collect in full at the time of sale for the State of
Minnesota an assurance fee of 3% of the total sale price of the land, timber,
and structures. Additional fees such as a deed recording fee of $46.00, state
deed preparation fees of $25.00, and state deed taxes equal to the greater of
$1.65 or .033% of the basic sale price are payable by the winning bidder to the
County at the close of the auction.� See
additional details provided in �Post Bidding Information� section below.
Timber
Pursuant to
Minn. Stat. Section 282.01, Subd. 4, no standing timber or timber products
shall be removed from the land until an amount equal to the appraised value of
all such timber or timber products as may have been standing on such lands at
the time of purchase has been paid by the purchaser, provided: any parcel of
land bearing standing timber or timber products is sold for more than the
appraised value, the amount bid in excess of the appraised value must be
allocated between the land and the timber in proportion to the respective
appraised value thereof. In that case, standing timber or timber products must
not be removed from the land until the amount of the excess bid allocated to
timber or timber products has been paid in addition to the appraised value of
the land. Additional details concerning the process the County must follow for
tax forfeited property containing timber are set forth in Minnesota Statutes
Section 282.04
POST BIDDING
INFORMATION
CONSIDERATION
OF BID
Olmsted County
reserves the right to reject any and all bids and to
withdraw from sale any of the real property listed before a notice of award is
delivered.
NOTICE OF AWARD
Successful
bidders will receive a Notice of Award from email address revenue@olmstedcounty.gov.
CONTRACT
An award of
sale is a contract between the winning bidder and Olmsted County, upon the
terms and conditions set forth herein. Olmsted County may pursue all legal
remedies allowed by law against any bidder who fails to make payment for a
winning bid.
ITEMS DUE UPON
SALE:
Deed
Information Form:
Winning Bidders will be emailed the �Notice
of Award� and �Deed Information Form� from the Revenue Department of Olmsted
County by email address revenue@olmstedcounty.gov upon the close
of the auction. This form must be completed and returned to the Auction Contact
within three (3) days from close of auction. This form will also note
additional fees, etc. due and will have the total amount due for the transaction.
Full Payment:
Full payment of
the total sale value. The successful bidder is required to remit payment to
Olmsted County PRL within three (3) business days from the date of the Notice
of Award. If payment in full is not received within the required time frame,
Olmsted County reserves the right to sell the property to the next highest
bidder or repost the auction.
Buyer Premium:
A Buyer Premium
of 5% of the auction price will be added to the final sale price with a $1
minimum charge per auction to collect payment. The premium will be visible
during the bidding process and will be included in the payment required.
State Assurance Fee:
3% of total
sale price of land, timber and structures. This percentage is state-mandated
and goes into the State�s General Fund to cover losses in the
event that the State has to defend its right to forfeit land.
Assessments:
Check with the
city/town clerk for any additional assessments of which the County Auditor is
not aware. If assessments are listed on sale listing as certified, assessments
must be paid in full at the time of sale. Additional assessments that existed
prior to forfeiture may be re-assessed by the municipality.
Timber Value: Must be paid in
full at the time of sale. Please note: The timber value increases the same
percentage as the sale bids up.
Recording Fee:
$46.00 or as
set by the County Recorder. If there is a well on the property, it is an
additional $50.00 for well disclosure.
Deed Fee:
$25.00 is paid
to the State�s General Fund.
Deed Tax:
0.0033 times
the purchase price or $1.65 for any bid under $3,000, whichever is greater.
Example: Below is an
illustration of the costs for a $100,000 winning bid.
����
|
$����� 100,000.00 |
Bid |
|
$��������� 5,000.00 |
Bid
Premium of 5% |
|
$��������� 3,000.00 |
State
Assurance Fee 3% |
|
$�������������� 25.00 |
State
Deed Fee |
|
$�������������� 46.00 |
Recording
Fee |
|
$�������������� 50.00 |
Well
Disclosure Fee |
|
$������������ 346.50 |
State
Deed Tax (.003 x (Bid Amount + Bid Premium)) OR $1.65 for Bids + Bid Premiums
$3,000 or less. |
|
$����� 108,467.50 |
Total
Due |
PAYMENT
REQUIREMENTS
Payment must be
made by cash, Cashier's Check, Certified Check, or Personal Check made payable
to Olmsted County PRL. �Payment made by
Personal Check will require a 14-day waiting period before the process to have
the State prepare and execute a deed transferring title will begin.
Previous
Default: Payment must be made by certified funds if purchaser has ever made
payment that has been returned non-sufficient funds (NSF).
DEFAULT
Default shall
include (1) failure to observe these terms and conditions; or (2) failure to
make good and timely payment. Default may result in termination of the bid
contract and suspension from participation in all future sales of tax forfeited
property by the County until the default has been cured.
If the Buyer
fails in the performance of their obligations, Olmsted County may exercise such
rights and pursue such remedies as are provided by law. Additionally, Olmsted
County reserves the right to sell the property to the next highest bidder or
repost the auction.
ACCEPTANCE OF
TERMS AND CONDITIONS
By submitting a
bid, the bidder agrees that the bidder has read, fully understood, and accepted
these Terms and Conditions of Online Sales, and agrees to pay for pursuant to
the terms of the bid if the bid is accepted, by the dates and times specified.