1. All parcels are offered at public auction and sold to the highest bidder. The minimum bid acceptable is the basic sale price, which is shown on the list of tax-forfeited land. The basic sale price is equal to the appraised value or the appraised value plus any extra charges for special assessments levied after forfeiture or for hazardous waste control.
2. Fees:
a) 3% surcharge for the state assurance account will be collected at the time of the sale.
b) State deed fee of $25.00
c) Recording fee of $46.00
d) Deed tax of .0033 per $100.00 of the sale price with a minimum of $1.65.
3. If there is a well on the property, a well certificate is needed and a $45.00 fee. It is the buyer’s obligation to do whatever is necessary to comply with the law and pay the necessary fees.
NOTE: THE PAPERS SHOULD BE PROCESSED, THE DEED RECORDED AND RETURNED TO THE BUYER IN APPROXIMATELY THREE WEEKS (GENERALLY)
4. All properties are sold in “as is” condition.
5. PAYMENT TERMS: CASH
6. The balance of any special assessments which were levied before forfeiture and cancelled at forfeiture may be reassessed by the municipality. Any special assessments which were levied after forfeiture and certified to the Freeborn County Auditor/Treasurer before sale have been added to the appraised value and must be paid by the purchaser as part of the basic sale price.
7. Sales are subject to the following restrictions on the use of the properties:
- existing leases
- easements obtained by a governmental subdivision or state agency for a public purpose, easements of record
- building codes and zoning laws
- all sales are final with no refunds or exchanges allowed
- the appraised value does not represent a basis for future taxes
8. Any parcel not sold at a public sale may be purchased after the public sale by paying the basic sale price plus fees. The basic sale price cannot be changed until the parcel is reappraised, republished, and again offered at a later public sale.
9. The buyer will receive a receipt at the time of the sale. The Department of Revenue will issue a state deed after full payment is made. The state deed is the same as a quitclaim deed and is not a warranty deed.
10. Any party who was eligible to repurchase tax-forfeited, non-conservation land before the public sale must pay the sum of: (1) all cancelled real estate taxes and interest, (2) an amount equal to the current year tax which would be due if forfeiture had not occurred, and (3) any costs associated with the forfeiture of that particular parcel (sheriff, mail, & publishing fees).
11. Property taxes will begin the year following the sale.
12. Boundaries: if you need to survey the property to determine the boundary lines, it will be done at the buyer’s expense.