Maintain Buyer

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Description

Enter or edit the buyer information, and enter the withholding types, calculation type for 1099's, and value for the buyer.

Steps

  1. Enter the basic Buyer's information on the Buyer tab:

    • Buyer number or select to Auto assign number upon saving. The buyer number must be unique. If auto-assigning, leave the buyer number as 0. Important: The buyer number cannot be changed after you save the buyer.

    • Select the Safekeeping checkbox as needed. This is an indicator to determine whether the certificates are being held by the county (safekeeping = True) or if the certificates are held by Buyer (safekeeping = False).

    • Select the checkbox if the Buyer is Banned from bidding at Tax Sale.

    • Select the ACH Indicator checkbox if needed. True or False – set to true if the ACH Use Code in the import file is 1, otherwise false.

    • Enter a Vendor code. This code is used in the Tax Accounting Payment Export file. To export payments for Tax Accounting, go to Tax > Tax Accounting > Payment Export.

    • Enter the Buyer type. You can chose from Individual, Agency, Group, or Interested Party.

    • Enter a Temp number if necessary.

    • Select the Checked-In checkbox to indicate the Buyer is registered and actively bidding.

  2. Review the Legal Party information. Legal party information is displayed from the setup in Aumentum Records Maintain Legal Party. Click Edit Party in the panel header to modify any of the information.

    • The Edit Party button is not available if your user role does not have rights to the Records Non-Menu item Legal Party Maintenance.

    • IMPORTANT: The legal party must have a social security number or a federal id number before you can save the withholding information. Click Edit Party and look at the Identification Numbers panel of Maintain Legal Party.

  3. Review the information in the Communication information. Note: If the Notify checkbox is selected, this buyer will receive the selected Notices via email to the Legal Party Email Address set up on the Maintain Legal Party screen in the Communication Information panel. Click Edit Party in the panel header to modify any of the information.

  4. Complete the following steps in the Withholding panel if a buyer is having funds withheld; the withholding is reported on the 1099. This is not required for all buyers.

    • Click Add to enter a withholding or click Edit in an existing withholding.

    • Select the type, such as IRS withholding or garnishment.

    • Select the calculation type, such as percentage or flat rate.

    • Enter the value of the percentage or flat rate. Use up to 2 decimals, if needed.

    • Click Apply to save the row of data within the Withholding panel.

  5. Complete the following in the Redemption Interest panel.

    • Click Add to enter redemption interest overrides.

    • Enter a Year for the override.

    • Enter an Override Interest amount.

    • Select if you want to Apply Interest.

    • Enter an Override Withheld amount.

    • Select if you want to Apply Withholding.

    • Click Apply.

  6. View/enter any alternate names on the Alt Names tab as needed. These are not used by all jurisdictions. When used, they are typically imported from the Buyer payment import file.

    • Additional cert name - the additional name to print along with the Buyer name on Certificate documents

    • Company Name of the person who registered on the internet. – informational

    • Tax return name of the entity responsible for paying taxes on interest

    • Business Name of the entity responsible to pay taxes on interest

    • Authorized agent

  7. Add/Edit paddle numbers for each applicable tax sale on the Paddle Numbers.

    • Click Add to add a new paddle number. The Paddle Number popup window displays.

    • Select a Tax Sale for the paddle number.

    • Enter a Count of Paddle Numbers.

    • Click Apply. The popup window closes and the number of paddles you selected are added to the Buyer, starting with the next available paddle number.

  8. Enter or Edit the group information on the Group tab. Enter the Group Number, if the Buyer is of type Group. Buyer type is set up.
    If the Buyer is not a Group buyer type, you can select to Associate with a Group Number.

  9. Enter the Registered Sales information for the Buyer.

    • Select the checkbox if the Buyer is Approved for Public Nuisance on the Registered Sales tab.

    • Add the Tax Sales the Buyer is register for. The Buyer Registration popup window displays. Select a Tax Sale to register the Buyer for and click Finish. The popup window closes and the Tax Sale is added to the list of registered sales.

    • Select the checkbox for each Tax Sale you want to pay the registration fee for and click Pay Registration at the top of the screen. You advance to the Collect Payments screen, where you can pay the Buyer Registration fee. After you cashier the payment, you return to this screen and the Paid checkbox is selected.
      Note: The Pay Registration button does not display on this screen until after you have saved the Buyer. Also, the Buyer Registration Fee is a Tax Sale Setting. This setting must be set before you can charge the registration fee to a buyer.

  10. Click Save to save the withholding information and buyer information. A Buyer number is created and displayed if you selected to Auto assign number. Note: The role of buyer is attached to the legal party when you successfully save.

Tips

You must have security clearance in order to edit the Records legal party information. Set up security rights via Configuration > Security and User Maintenance > Roles > Maintain a Role > Edit Role Details > Edit Non-Menu Item Role Details.

Withholding is not required, but can be used for the interest earnings of the buyer and reported to the IRS on a 1099 form.

The buyer number field must be blank in order to auto-assign the buyer number. If there is a number in the buyer number field, it is saved and auto-assign is ignored.

After saving the buyer information, the buyer number cannot be changed.