COUNTY OF CHARLESTON

INFORMATION AND INSTRUCTIONS

DELINQUENT TAX SALE

- November 1, 2010 -

BY VIRTUE OF EXECUTIONS issued by the Treasurer of the County of Charleston, the Delinquent Tax Collector has levied upon and will sell certain pieces and parcels of real property in order to collect delinquent taxes, assessments, penalties and costs. The auction is being held in the Charleston County Council Chambers in the Lonnie Hamilton, III Public Service Building at 4045 Bridge View Drive, North Charleston, SC beginning at 10 am, November 1, 2010 and ending at 4 p.m. that day. If additional days are necessary to complete the auction an announcement will be made to that effect before the close of business each day. The sale on subsequent days (if necessary) will begin promptly at 9:30 a.m. and end at 4:00 p.m.

 

PAYMENT OF TAXES PRIOR TO SALE

All real property owing delinquent taxes for the tax years 2000 through 2009 is subject to sale. To avoid sale, all delinquent taxes, assessments, penalties and costs must be received and processed by the County prior to 5:00 p.m. October 29, 2010.

Personal or company checks will not be accepted since sufficient time must be allowed for the checks to clear. Only cash, money order, attorney's trust/escrow account checks or certified checks will be accepted for the payment of taxes.

Property to be offered for sale will be advertised in the Charleston Post and Courier on Friday, October 8, October 15 and October 22, 2010 in the name of the current owner and the defaulting taxpayer, defined by the South Carolina statutes as the owner of record on December thirty-first of the year preceding the taxable year.

On October 8, 2010 a listing of properties being offered for sale will be available in three formats: (1) A printed listing at a cost of $25; (2) A computerized listing on CD at a cost of $50; (3) A listing posted on the Charleston County Website www.charlestoncounty.org in parcel identifier number order and alpha order by current owner name.

 

BIDDER REGISTRATION AND BIDDING PROCEDURE

Anyone interested in bidding on property should register with the Delinquent Tax Collector beginning Friday, October 8, 2010. Prospective bidders are required to show a valid driver's license or other acceptable identification and will be required to complete an IRS Form W-9.

Property will be auctioned in tax map number order to the highest bidder and must be paid for with cash, money order or certified check by the close of business on the day of the sale. Should the bid not be received within the time specified, the bidder is liable and will be charged $300 for bid default. If there is no bid, the property will be considered purchased by the County's Forfeited Land Commission for the amount of the taxes, penalties and costs. Receipts will be issued in the name(s) appearing on the bidder registration forms.

Bids will be recognized only from registered bidders who are seated in the chairs provided.

In case a defaulting taxpayer has more than one item to be sold, as soon as sufficient funds have been accrued to cover all of the defaulting taxpayer's taxes, assessments, penalties and costs, no further items will be sold. This is to protect the defaulting taxpayer from excessive redemption penalties. The bidder, however, is only entitled to the property actually sold.  

Assignment of bids, either in whole or in part, will be accepted beginning November 15, 2010, until October 14, 2011.

 

SINCE THE COUNTY IS NOT LIABLE FOR THE QUALITY NOR QUANTITY OF THE PROPERTY SOLD, THERE WILL BE NO REFUNDS OF BID MONEY.

REDEMPTION OF PROPERTY SOLD

""Section 12-51-90, (A) The defaulting taxpayer, any grantee from the owner, or any mortgage or judgment creditor may within twelve months from the date of the delinquent tax sale redeem each item of real estate by paying to the person officially charged with the collection of delinquent taxes, assessments, penalties, and costs, together with interest as provided in subsection (B) of this section. If prior to the expiration of the redemption period, the purchaser assigns his interest in any real property purchased at a delinquent tax sale, the grantee from the successful bidder shall furnish the person officially charged with the collection of delinquent taxes a conveyance, witnessed and notarized. The person officially charged with the collection of delinquent taxes shall replace the successful bidder's name and address with the grantee's name and address in the delinquent tax sale book.

(B) Interest is due on the whole amount of the delinquent tax sale based on the month during the redemption period the property is redeemed according to the following schedule pursuant to Section 12-51-90:

Property Redeemed:

First three months 3 percent;

Months four, five, and six 6 percent;

Months seven, eight, and nine 9 percent;

Last three months 12 percent.

However, in every redemption, the amount of interest due must not exceed the amount of the bid on the property submitted on behalf of the forfeited land commission pursuant to" Section 12-51-55."

Once property is redeemed the bidder will be notified by mail and must return the original sale receipt to the delinquent tax collector before a refund check is issued. The bidder should allow at least thirty days for the processing of the refund.

 

VOIDING A SALE:   At any time prior to title being passed, the official in charge of the Tax Sale may void the sale of an item for any reason and interest paid on a voided tax sale is calculated in accordance with Section 12-51-150.

 

CONVEYING PROPERTY NOT REDEEMED

Property not redeemed will be conveyed by quitclaim deed to the successful purchaser within thirty days, or as soon thereafter as practicable, following the expiration of the redemption period. The purchaser will be notified in writing and must pay all applicable fees prior to the deed being recorded by the Register of Mesne Conveyance (RMC).

 

THE PURCHASER OF PROPERTY AT A TAX SALE ACQUIRES THE TITLE WITHOUT WARRANTY AND BUYS AT HIS OWN RISK. THE COUNTY IS NOT LIABLE FOR THE QUALITY OR QUANTITY OF THE PROPERTY SOLD.

For the bidder's own protection, it is recommended that professional advice be sought if there are any legal questions pertaining to a delinquent tax sale.

Mary Scarborough

Delinquent Tax Collector


 

REFUND INTEREST SAMPLE CALCULATION

Amendment to Section 12-51-90

 

 

Sample Property for Sale:

            Appraised Value                  =           $100,000

            Assessment Rate                  =                  4%

            Millage                                 =                .250

            Taxes for 2009                   =               $1,000

            Late Payment Penalty           =                  $150

            Levy Fees                            =                  $165

            Taxes for 2010                   =               $1,150

            FLC Bid                                                $2,465

 

 

Example 1:     If Bidder #1 bids $18,000 for this property, his potential interest earnings are as follows:

 

            Property Redeemed During                                     Interest

                             1st 3 months                                              $540

                             2nd 3 months                                          $1,080

                             3rd 3 months                                            $1,620

                             4th 3 months                                           $2,160

 

 

 

Example 2:     If Bidder #2 bids $50,000 for this property, his potential interest earnings are as follows:

 

            Property Redeemed During                                     Interest

                             1st 3 months                                           $1,500

                             2nd 3 months                                          $2,465

                             3rd 3 months                                            $2,465

                             4th 3 months                                           $2,465

 

 

 

Note:   The bid offered on behalf of the FLC was $2,465, therefore at the beginning of the second 3 month period the last part of this amendment kicked in and the bidder’s interest was capped at $2,465.

 

 

 


 

INFORMATION AND INSTRUCTIONS

DELINQUENT TAX SALE

 

Charleston County Delinquent Tax will hold its annual Tax Sale on November 1, 2010.  

 

·        General information about tax sale and a list of delinquent properties scheduled to be sold will be advertised in the Post & Courier or a paper of general circulation. 

·        This information will also be listed after October 8, 2010 on the Charleston county web site at www.charlestoncounty.org

·        Registration to bid will begin in October 8, 2010.  A completed registration form is required to be a registered bidder and before a bidder number can be assigned.

·        In order to bid on property at the tax sale, you must be a registered bidder, and have an assigned bidder number.  You do NOT have to register to bid if you attend the tax sale.

·        Successful bidders must pay the total amount of their bid(s) the close of business on the day of sale.  Only cash, money orders or cashier’s checks will be accepted (No personal or business checks).  Bidders who do not submit payment by end of each day will be assessed a $300 default bid fee as per State Law.

·        An original Tax Sale Receipt will be issued for each fully paid bid.

·        Defaulting taxpayers have 12 months in which to redeem the property.  Bidders have no rights to the property during this period.

·        If the property is redeemed, the bidder must return the Original Tax Sale Receipt to Delinquent Tax before the bid amount plus applicable interest in accordance with State Statute will be refunded. 

·        If the property is not redeemed, the bidder will receive information from the Delinquent Tax Office after the end of the redemption period with further instructions.