We hold foreclosure sales on Wednesdays at 10:30 a.m. in our Boulder office. You can see what’s for sale on our foreclosure sale lists. Please come early on sale day. All bidders need to register.
Bidding
The Lender’s Bid
The lender must give us their bid, by noon, two business days before the sale. If the bid isn’t submitted on time, we will continue the sale to the following week. The lender can change their bid. They have until noon of the business day before the sale to do this. You can search for properties. We post the pre-sale list on Monday afternoon.
Lenders may pull their bids before the sale. If they do, we will continue the sale to a later date.
Bidding at the Sale
Bids must be written down on the form we provide. Bidding starts after we announce the lender’s bid. The person running the sale will select a bidder whose bid is ready, accept their bid, and read it out loud. The sale will continue until there are no more bids.
Payment
You must pay your winning bids by 1 p.m. on the sale day. We require you to pay with certified funds. Certified funds are cash, cashier’s check, money order, or bank wire. We will not take a personal check. Contact us for wire instructions.
If a bid is not paid by the deadline, we will offer the property to other bidders at the sale. If you don’t pay your bid, we may ban you from auctions for two years.
After the Sale
Overbid
Sometimes the winning bid is more than the amount owed. This is called “overbid.” Junior lienholders may be eligible for a share of the overbid. The property owner gets any overbid money left after paying lienholders.
Certificate of Purchase
We record and issue a Certificate of Purchase for successful bids within 5 business days.
Redemption
Junior Lienor Intent to Redeem
Junior lienholders may redeem property we sell at the foreclosure sale. They redeem in order, based on the seniority of their lien. The person holding a Certificate of Purchase must provide us with redemption figures, if the certificate can be redeemed. When a property is redeemed, our office will record and issue a Certificate of Redemption.
Junior lienholders have 8 business days after a sale to file their intent to redeem with us. The most senior lienholder redeems first. This must happen between 15 and 19 business days after the sale. The lienholder has only until noon on the last day to redeem. Each other lienholder who filed an intent to redeem then has their chance. This happens in order of seniority. Each lienholder after the first has five business days to redeem their lien.
When a lienholder redeems, they pay the total of:
- The winning bid amount
- Interest at the rate in the Deed of Trust and Note being foreclosed
- Other costs allowed by Colorado law.
A junior lienholder who decides not to redeem still gets their share of any overbid money.
If you have a Certificate of Purchase, be ready to give us receipts for your expenses.
Certificate holders must give us redemption amounts within 13 business days of the sale. You must include the amount of interest per day and the interest rate. You can update these amounts until 2 business days before a redemption period starts.
After all redemption periods are done, the owner of the property will get any overbid money left.
Confirmation Deed
When all redemption periods end, the Public Trustee issues a Confirmation Deed. This deed transfers title to the property. The deed goes to the person holding the Certificate of Purchase if nobody redeems the property. If one or more people redeem, the deed goes to the person with the final Certificate of Redemption.
Certificates of Purchase and of Redemption can be assigned until we issue the Confirmation Deed.