Can your deposit be more than 20% of the bid price?

[dogbone]

Can your deposit be more than 20% of the bid price? I know you don't want to be lower than 20% but are you allowed to deposit more, like any amount higher than 20 %.

[gap]

Yes - the rules say 'at least 20%'.  Watch for rounding off and the decimal point...I always add a few dollars above my 20% just in case my calculator is off and I've missed it.   You could lose out for a fraction of a cent!   Better safe than sorry.

[RichD]

You  could submit a check for 100% of your bid if you like. The down side to doing this is if you win and decide you  made a mistake and you don't want the property your out a lot more money then if you keep it to just over the 20% mark. Not a good situation either way but I'd rather risk loosing 20% of my bid then 100%.

[Frank]

Yes, you must submit 20% or more - make sure you are over a little bit.  But as RichD points out, don't go crazy.

Read the article posted on the forum at:   http://www.taxsaleproperty.org/Articles/Penny-Saved-Cottage-Lost.html