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It is your duty to do research study before concerning the sale to bid on a residential or commercial property. The general public Trustee can not and does not ensure that the deed of trust being foreclosed is a very first lien - it might be a second or 3rd lien. The General Public Trustee does not understand the condition of the residential or commercial property, or if the residential or commercial property taxes or evaluations have actually been paid or if there are any other liens versus the residential or commercial property. If you do not know how to inspect the "condition of title" or the "chain of title" to the residential or commercial property, you may want to employ somebody to do the research study for you.

You can acquire the foreclosure case number for the residential or commercial property by looking it up at our site, Foreclosure Search.

On Tuesday, two days before sale, we will have published in our workplace by around 2:00 p.m. listing of residential or commercial properties set up to go to sale that week (Thursday). The lending institution's composed bid is required to be supplied, in writing, to the general public Trustee prior to the posting of the Pre-Sale Continuance List (foreclosure search, foreclosure reports). The bids are public info and you might browse our foreclosure search, sale details, quote, to see the opening quote quantity. Bids received from the loan providers might be modified at the time of sale so long as the lending institution's representative is personally present at sale and re-executes the modified composed bid.

Be recommended: The lender or its attorney, or the Public Trustee, may pull or continue a residential or commercial property from the sale list at any time up until the sale begins Thursday early morning.

Check in on sale day:

The Clear Creek County Public Trustee holds foreclosure sales on Thursday's immediately at 11:00 a.m. - Sales are held at the Clear Creek County Treasurer & Public Trustee's Office, in the Clear Creek County Courthouse, 405 Argentine Street, Georgetown, Colorado. See Map (PDF)

If you intend to bid on a residential or commercial property, you ought to reach the workplace about 15 to 20 minutes early to complete a Bidder Information Form (PDF) with your name, address, and so on. This info will be utilized for the Certificate of Purchase, please make certain it is precise and legible.

Those interested in bidding should personally attend the sale. We do not take over-bids by phone, fax or e-mail. If you are appearing at the sale to bid on behalf of somebody other than yourself or another entity that you do not own or control, you require to have written authorization, a letter of company notarized pursuant to CRS 15-14-607, and verbally state that your quote is being entered upon behalf of that other individual or entity at the time the quote is made.

Bidding at the sale proceeds in increments of $5.00 - if the lending institution has actually submitted a bid for $150,000.00, for example, you should bid a minimum of $150,005.00 in order to be the effective bidder.

You will likewise be required to have adequate funds with you to bid on the residential or commercial property. Payment of effective bid amounts must be made in the type of an official bank cashier's check or accredited check. Checks should be payable just to the "Clear Creek County Public Trustee". We can not accept 3rd party checks. The Public Trustee will strike and offer the residential or commercial property to the effective bidder after bidding has stopped and funds have actually been supplied.

Pursuant to laws in impact on January 1, 2008 for cases began after that date, the effective bidder will not get an original Certificate of Purchase at the time of sale. Successful bidders will be provided with a Receipt from the general public Trustee after the sale is completed. A Certificate of Purchase will be provided in the name and address of the successful bidder as shown on your Bidder Information Form and tape-recorded (within 5 company days) by the Public Trustee's workplace and maintained in our workplace records.

As the beneficiary called in the Certificate of Purchase, you do not have immediate right of access to the residential or commercial property. A Certificate of Purchase does not transfer title to you, it merely evidences your investment made at the time of sale.

The Redemption Process:

A junior lien holder has 8 company days after the sale to file an intent to redeem. The most senior lien might redeem 15 to 19 organization days after the sale, but no behind twelve noon the last day. If multiple lien holders submit an intent to redeem, each extra lien holder will receive a 5 day redemption period.

If you are called for redemption figures, interest is calculated at the rate defined on the note and additional expenses are limited to those permitted by statute. Please be prepared to provide receipts for expenses sustained. Redemption figures should be received within 13 organization days after the sale. The statement should define all amounts required to redeem consisting of the quantity of daily interest and the interest rate. The statement might be modified up till 2 company days before the start of the next appropriate redemption period. Your declaration of redemption need to comply with 38-38-302 C.R.S.

. If redemption happens, the Certificate of Purchase holder is paid the bid quantity, interest at the rate defined in the Deed of Trust and Note being foreclosed, and any other allowable expenses as defined by Colorado Revised Statutes (receipts should be provided) as provided in C.R.S. 38-38-107 and as included in your redemption statement. Thereafter, upon composed demand and payment of the required costs, the Public Trustee's workplace will issue a Verification Deed to communicate title to the last party.

If no Notice of Intent to Redeem is submitted and no redemption is made by anybody, you need to ask for, in composing, that our office problem your Confirmation Deed, no quicker than 15 company days after the sale. You need to pay a $30.00 fee, plus recording expenses, for issuance of the recorded Deed. The Confirmation Deed shall be provided by the Public Trustee and taped with the Clerk & Recorder's workplace. If you are the beneficiary of that Deed, you will then have ownership of the residential or commercial property.

Notice to an owner in foreclosure:

If your residential or commercial property goes to foreclosure auction sale and is acquired for more than the total owed to the loan provider and to all other lien holders, please contact the general public Trustee's office after the sale because you might have funds due to you.

The general public Trustee's office does not offer legal guidance and we do not do any expulsion procedures. Once the Confirmation Deed is issued by this office and tape-recorded, the general public Trustee's file is closed.