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  • Foreclosure Sale Policy

     

    PUBLIC TRUSTEE SALE ANNOUNCEMENT

    This is the published Public Trustee Sale for ___________.
    In case of an emergency, please retrace your steps to the lobby and exit the front doors.

    • Introductions:
      • Today’s sales fall under multiple laws. Please perform your due diligence to determine which laws affect the property you are bidding on.
      • CRS 38-38-106 (7)(a)(b) states the Public Trustee may establish written policies available to the general public relating to all aspects of the foreclosure sale that are consistent with foreclosure statutes. Our policies are posted on our web site, posted in our lobby, posted in the sale room and read at the start of each sale.

    SALE ORDER AND PROCEDURE

    1. So that everyone can clearly hear the bids, please do not talk or visit during the sale. Please silence all electronic devices while you are in the sale room.
    2. Any discussions or financial transactions with other bidders must be done outside this office prior to the sale. If this rule is violated, you can and will be banned from future sales. Outside this office is another matter. Be aware that Colorado law provides that rigging a bid or any aspect of the bidding process is illegal.
    3. Properties with registered over bidders will be sold first in order of foreclosure number.

    BIDDING AND BID FORMS – PLEASE USE THE CURRENT BID FORMS:

    1. The Public Trustee issues no warranties, expressed or implied, concerning properties offered for sale. Please do your research and due diligence before bidding. All sales are final.
    2. Those interested in bidding must personally attend the sale. If you can’t attend and wish someone to bid for you, we must have a letter of agency notarized pursuant to CRS 15-14-607.
    3. We do not take over bids by phone, fax or email.
    4. Pay attention to the description of the property at auction. Know what you are bidding on.
    5. Anyone interested in bidding today must present the completed “Over Bidder’s Information” form for each property you plan to bid on. Completing this form does not obligate you to bid. You can print forms from our website. Paper copies are in the sale room and in our office.
    6. Bid forms must be submitted by 9:45 a.m. so that we have time to set up the over bid sale. We are in the sale room at 9 a.m. to accept bid forms.
    7. Minimum overbid is one dollar ($1.00).
    8. Each time a bid is made, the bidder must announce the bidder’s name, first, and then the full amount of the bid. No other comments. Bidders must remain in sight of the auctioneer.
    9. Excess bid funds received at sale will be processed pursuant to CRS 38-38-111.

    PAYMENTS TO PUBLIC TRUSTEE GOVERNED BY CRS 38-37-108

    1. Sale funds will be collected as soon as the property is struck and sold. Your payment must include the lender’s bid amount AND the complete amount of your overbid. You do not have time to leave this office to get any additional funds. You can only bid up to the amount of certified funds and cash you have with you. If you do not have certified funds or cash to honor your winning bid, we will immediately re-open the auction at the bid submitted immediately prior to your un-honored bid. If you fail to honor your winning bid, you will be unable to bid on any property for the remainder of that sale and at the next four scheduled sales. Your word is your bond.
    2. Sale of other properties will continue while payment is taken. If you wish to bid on a property while you are paying, you may. However, you must first present good funds for your winning bid.
    3. We do not take personal checks, business checks, credit cards, debit cards or letters of credit.
    4. Under Colorado law, certified funds checks MUST be made payable to the Jefferson County Public Trustee.
    5. We accept wire transfers which must be sent the day prior to the sale. Funds must be in our account and be verified.
    6. Any amount that you tender over your accepted bid amount can be applied to other properties you win during that day’s sale. Remaining funds after you have paid for all properties where you are the winning bidder will be reimbursed to the holder of the Certificate of Purchase by check. This check will be available after 7:30 a.m. on the following Wednesday. At your request, we will mail the check.

    WINNING BIDDERS: REDEMPTIONS AND DEEDS

    1. Recorded copies of the Certificate of Purchase are available from the Jefferson County Clerk and Recorder. Unofficial copies are available from the Public Trustee’s web site.
    2. Please be aware that if the successful bidder is the holder of the evidence of debt, the foreclosing attorney or the holder of the evidence of debt may rescind the sale anytime within 8 business days after the sale. If the successful bidder is a 3rd party, the sale can only be set aside by court order.
    3. When the Intent to Redeem is filed, the holder of the Certificate of Purchase will be contacted for a signed and notarized redemption statement that must comply with CRS 38-38-302.
    4. Issuing Public Trustee’s Confirmation Deed:
      1. There are four sets of laws affecting how the deed is issued. Winning bidders will receive a packet of information so they may determine which redemption laws affect their bids. This information is available on our website and in the sale room.
    5. Please consult your legal advisor for clarification of your rights, the rights of the homeowner and other lien holder’s rights during the redemption period-especially if there is a federal tax lien on the property

    ACCESS TO PROPERTY
    As the grantee named in the Certificate of Purchase, you do NOT HAVE IMMEDIATE RIGHT OF ACCESS TO THE PROPERTY. A Certificate of Purchase does not transfer title to you. It merely evidences your investment made at the time of sale. You may access the property when title vests. If you need assistance with evictions, it is suggested that you contact the Jefferson County Sheriff’s Office Civil Division located in Suite 1520 of this building.

    CONCLUSION

    1. As the Public Trustee, on behalf of the lenders who have submitted written bids for those properties without over bidders, I tender those bids for those properties as shown on today’s list. Those properties are struck off, sold and will return to the lender.
    2. We will proceed to sale for the remainder of the properties on today’s sale list. (or) There are no other properties for sale.
    3. All of our reports are posted for free on our web site.
    4. This concludes the Jefferson County Public Trustee Sale for ____________. 

    Last Updated: 5-13-2014