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Official form guide
Form 12673: Agreement to Bid
The Internal Revenue Service Form 12673 is used to create an Agreement to Bid for the public sale of property by the United States Government. The form requires the bidder to agree to bid at least a specified amount ($) within a set time period.
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IRS Form 12673 - Agreement to Bid
The Internal Revenue Service Form 12673 is used to create an Agreement to Bid for the public sale of property by the United States Government. The form requires the bidder to agree to bid at least a specified amount ($) within a set time period.
Risk Radar
Scan points- 1Failure to specify both a minimum bid amount ($) and the time period (days) makes the entire Agreement to Bid void.
- 2Leaving the required minimum bid amount ($) blank on Form 12673.
- 3Failing to attach a legal property description when required by the form.
- 4Not specifying the number of days within which the sale must occur.
- 5Omitting the bidder's full street address or zip code in the Bidder Information section.
Plain English
This form allows an individual to formally commit to purchasing government property that is being sold publicly. By signing, the bidder agrees to meet a minimum bid amount and must submit a deposit. Failure to follow these rules may result in financial liability for damages sustained by the Government.
Submission Date
- Filing date: 2016-08-08 00:00:00
- Preparation window: collect IDs, supporting records, and signatures in advance.
- Final review: verify names, dates, and required fields before submission.
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What this form is for
- Use this form when an individual agrees to bid on property being offered for public sale by the United States Government.
- Do not use it if the property is not being sold by the United States Government.
- The official source does not reference any specific alternative forms or numbers.
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Use this form or another form?
If the transaction involves a corporate entity
The form must be signed by an authorized representative of the corporation.
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If the property description is complex
Ensure all required legal descriptions are attached as separate pages to the agreement.
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If multiple bidders are involved
Each bidder must complete and sign a unique copy of Form 12673.
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Deadline or filing window
The agreement requires that the property be offered for sale within a specified number of days from the date this agreement is signed. The agreement becomes void if the property is not offered for sale within the time specified above. No extension details are provided in the source.
Checklist
What you need before filling it out
Minimum bid amount
A specific dollar amount ($) required for bidding · Form p.1
Timeframe for bidding
Number of days within which the bidder agrees to bid · Form p.1
Deposit authorization
Dollar amount authorized to be applied against the sale price · Form p.1
Bidder contact details
Name, address, telephone number, and signature of the individual bidding · Signature block (p.1)
Before you submit
- 1Sign the Agreement to Bid as the undersigned bidder.
- 2Specify the minimum bid amount ($) that you agree to meet for the property.
- 3State the number of days within which you are willing to bid on the property.
- 4Attach all necessary legal property descriptions, adding pages if needed.
- 5Complete and verify your full name, address, phone number, and signature in the bidder information section.
- 6Confirm that the authorized deposit amount ($) is correctly stated.
- 7Ensure the date of signing is accurate.
How to file this form
- 1Read the terms and sign the Agreement to Bid (Form 12673).
- 2Specify the minimum bid amount and the timeframe for bidding on the property.
- 3Complete all bidder information, including name, address, telephone number, and signature of the individual filing.
- 4Attach any necessary legal property descriptions detailing the property being sold.
- 5Submit the completed form along with the authorized deposit funds to the United States Government representative.
- 6Keep a copy of the fully executed Agreement to Bid for personal records.
Known limitations
- 1The agreement is voided if the property is not offered for sale within the specified time.
- 2If the bidder fails to bid at least the required amount, and the property is not sold for at least that amount within the set time, the deposit will be retained pending final determination of damages.
- 3The Government reserves the right to reject any and all bids.
- 4The Government reserves the right to withdraw the property from sale.
- 5If damages exceed the deposit amount, the bidder is liable for the excess damages.
Field map
Compact field-by-field guide
General Info
2 items
Full legal name and taxpayer identification number (SSN or EIN).
Current mailing address.
Details
2 items
Complete all applicable sections of this form according to the official IRS instructions.
Enter the relevant dollar amount if this form involves tax calculation.
Certification
1 items
Read and acknowledge any certifications required by this form.
Signatures
1 items
Sign and date. Unsigned forms cannot be processed.
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Fillable formOpen in Editor->Form 12673 was revised in August 2016 (Rev. 8-2016). The official source does not provide a link to the latest information page or detail any changes from previous editions.
What changed or needs a fresh check
- Edition date — confirm the revision date reads August 2016.
- Fee — Not stated in the official source.
- Mailing address — Not stated in the official source.
- Signature — The form requires a signature from the Bidder.
Quick Facts
Downloads
After you file
- 1Keep a copy of the signed Agreement to Bid (Form 12673) and all associated documentation.
- 2The deposit authorization must be applied against the sale price if the bidder is successful.
Sources
- SRCForm 12673 is used for an Agreement to Bid concerning public sales of property by the United States Government [Form p.1].
- SRCThe bidder agrees to bid at least a specified amount ($) within a certain number of days from the date of agreement [Form p.1].
- SRCThe bidder authorizes the deposit of $ to be applied against the sale price if they are the successful bidder [Form p.1].
- SRCIf the minimum bid is not met, the deposit may be retained pending final determination of damages due to breach [Form p.1].
- SRCBidders understand that they will be liable for excess damages if those damages exceed the amount of the deposit [Form p.1].
- SRCThe Government maintains the right to reject bids or withdraw the property from sale at any time [Form p.1].
- SRCIf the property is not offered for sale within the specified timeframe, the agreement is voided [Form p.1].
Common confusion points
What happens if I do not bid at least the required amount?
The agreement specifies that if the property is not sold for at least the minimum amount within the time specified, the deposit may be retained pending final determination of damages.
Is my initial deposit always safe?
No; the deposit may be retained pending a final determination of damages if bidding requirements are not met.
Can the Government cancel or change the sale?
Yes; the Government reserves the right to reject any and all bids, and also has the right to withdraw the property from sale.
Does this agreement remain valid indefinitely?
No; the agreement is voided if the property is not offered for sale within the specified time frame.
What happens if the calculated damages are higher than my deposit?
The bidder agrees that they will be liable for any excess damages that exceed the amount of the deposit.
Do I need to attach legal descriptions?
Yes; the form requires a legal property description, and additional pages must be attached as needed.
Questions about IRS Form 12673
What is IRS Form 12673 used for?
This form allows an individual to formally commit to purchasing government property that is being sold publicly. By signing, the bidder agrees to meet a minimum bid amount and must submit a deposit. Failure to follow these rules may result in financial liability for damages sustained by the Government.
Who must file IRS Form 12673?
The undersigned files Form 12673 when agreeing to bid on property offered for public sale by the United States Government.
What information does IRS Form 12673 require?
The form collects details including a legal property description and property address. Bidders must provide their full Bidder Information, such as name, telephone number, street address, city, state, and zip code, along with the signature and date.
How do I complete IRS Form 12673?
First, the bidder must fill in the legal property description, the address, and state the minimum bid amount and timeframe. Next, authorize the enclosed deposit and complete all required Bidder Information fields. Finally, the bidder signs the agreement with the current date.
What happens if IRS Form 12673 is filed incorrectly?
If the bidder does not bid at least the amount specified and the property is not sold for at least such amount within the time specified, the deposit may be retained pending final determination of damages. The bidder can also be liable for any excess damages that exceed the initial deposit amount.
What happens if I do not bid at least the required amount?
The agreement specifies that if the property is not sold for at least the minimum amount within the time specified, the deposit may be retained pending final determination of damages.
Is my initial deposit always safe?
No; the deposit may be retained pending a final determination of damages if bidding requirements are not met.
Can the Government cancel or change the sale?
Yes; the Government reserves the right to reject any and all bids, and also has the right to withdraw the property from sale.
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