Facts to Know Before Purchase
All tax-forfeited parcels are appraised and offered for purchase by sealed bid and sold to the highest bidder. The minimum bid accepted is the appraised value.
Parcels not sold may be purchased by anyone offering to pay the appraised value. Prices cannot be changed unless a parcel is re-appraised, advertised and again offered at a public sale.
When a parcel of tax forfeited land is sold. The Property Records and Taxation Division collects an amount equal to three % of the total sale value of the land, which is in addition to the price of the land.
Terms may vary. In general, cash or check will be accepted for payment according to the following terms: Sale amounts of $500 or less shall be paid in cash at the time of the sale and all other sales amounts may be paid in cash or paid on an installment basis according to the terms provided herein. On sales amounts over $500 but not over $2,000, a down payment of $500 shall be paid at the time of the sale and the unpaid balance shall be paid in three equal annual installments. For sales amounts in excess of $2,000, but not over $40,000, a down payment of one-fourth of the sales prices shall be paid at the time of the sale and the unpaid balance shall be paid in three equal annual installments. On sales amounts in excess of $40,000, a down payment of one-fifth of the sales prices shall be paid at the time of sale, and the unpaid balance shall be paid in four equal annual installments. For all sales, the annual installments of the unpaid balance shall be paid prior to December 31 each year. The unpaid balance on all sales shall accrue interest at the rate prescribed by State Statute Section 279.03, subd.1A and is subject to change each year on the unpaid balance; that no principal installment payment shall be less than the amount of the original down payment unless it is a final payment on the contract and each installment payment shall include the amount of accrued interest to date.
Sales are subject to existing leases, if any, building restrictions appearing on record at the time of forfeiture, easements, all applicable laws and ordinances, and with the understanding that the appraised value does not represent a basis for future taxes. All property is sold "as is" and may not conform to local building and zoning ordinances. The County makes no warranty that the land is "buildable." All sales are final, and no refunds or exchanges are permitted. If municipal special assessments were cancelled at forfeiture, the assessments may be reassessed by the municipality. Local improvements not yet assessed and special assessments levied after forfeiture must be assumed by the purchaser.
The purchaser will receive a certificate of sale at the time of purchase. The State Commissioner of Revenue will issue a deed from the State of Minnesota after full payment is made. This conveyance shall have the force and effect of a patent from the State. However, services of an attorney may be necessary to make the title marketable.
Unplatted Parcel Deeds
Unplatted Parcel Deeds for unplatted parcels will contain a restrictive covenant, which will prohibit enrollment of the land in a state-funded program providing compensation for conservation of marginal land or wetlands.