TREASURER - TAX SALE INFORMATION

TO:    ALL THOSE INTERESTED IN PURCHASING PROPERTY AT TAX SALE

FROM:  RICHARD G. HEIDLOFF – LYON CO. TREASURER  712-472-3704

For your information, please note the following:

            1.  BUYER BEWARE!!!  It is the buyers responsibility to be aware of the

             property he is buying a certificate on.

            2.  A tax certificate purchaser may have no recorded interest in any

             property they purchase a certificate to or receive on assignment.

            3.  All bidders will be eligible for random selection drawing on each parcel.

              A show of hands will indicate who is interested in purchasing each parcel.

              An opportunity to “buy down” will be given to the remaining interested

              bidders.  A certificate will be issued to the bidder indicating the smallest

              percentage of parcel, with 1% being the lowest percentage accepted.  A

              random selection drawing will be used to eliminate the tie.  A tax

              certificate will then be issued  for the percentage designated. Any

              collusion by bidders to prevent the “buy down” process will cause the tax

              sale to be postponed.  In the event collusion is discovered after the tax

              sale, the tax sale certificate will be null and void and resold at a later

              date.

            4.  After 1 year and 9 months from the date of your certificate of

             purchase at regular tax sale, or 9 months on a public bidder sale,

             not if redeemed prior to that date, you should serve a Notice of

             Expiration and file an Affidavit of Completion of Service with the

             County Treasurer in accordance with Section 447.9 and 447.12,

             2003 Code of Iowa as amended.  You should consult your legal council

             prior to the issuance of the Notice of Expiration and Affidavit of

             Completion of Service.

            5.  You may pay subsequent taxes on this property on October 15 and

             April 15 of each year if still delinquent.  At that time, you will receive

             a subsequent receipt from the Treasurer.

            6.  If action by the holder of a certificate has not been completed to

             qualify the holder for a Treasurer’s deed or a Treasurer’s Certificate

             of Title within 3 years from the date of the certificate, the

             certificate is cancelled.  A certificate of purchase is assignable.

            7.  90 days after the Affidavit of Service is filed with the County

             Treasurer, a deed or certificate of title can be issued, upon returning

             the certificate and subsequent receipts to the County Treasurer, along

             with the fee, which is currently $25.00.

            8.  Immediately after the issuance of the treasurer’s deed or

             certificate of title, an affidavit may be filed by you to clear

             title under Section 448.15, 2003 Code of Iowa.

            9.  New legislation prohibits the tax sale certificate purchaser

             from recovery of lien search and notice costs as part of the

             redemption.  It is now considered part of your responsibility

             for redemption of the certificate.

            10.  Subsequent tax payments may not be paid online.  If paid

              online, the payment will not be added to the certificate!

The above is for informative purposes only and is not to be construed as legal advice.  For additional information, please feel free to call or write this office.

Richard G. Heidloff

Lyon County Treasurer

5/17/04