Bidding Rules

Arapahoe County, Colorado

Bidding Rules for Annual Public Auction of Delinquent Real Estate Taxes

2017 Tax Lien Sale (For Tax Year 2016 and priors)

 

SUMMARY OF IMPORTANT INFORMATION

SALE

• The web site will open for research and deposits beginning 10/13/2017. Formal bidding and modification of bids begins 11/02/2017 and can be done up until the closing hour of each batch on the last day of the tax lien sale (11/06/2017). More detailed instructions can be found on the FAQ (Frequently Asked Questions) page of this web site and the SUMMARY OF IMPORTANT INFORMATION below.

• A 10% deposit of your total intended winnings will be required via ACH transfer. Deposits must be completed by 11/01/2017 at 4:00 PM MT.

• Each Buyer will be required to register online to participate. Buyers are responsible for ensuring that their information is correct as IRS W-9 forms, tax lien certificates, refunds and redemptions are prepared from this information.

• The sequence of the published list in the local newspaper will be followed as closely as possible, except that liens on prior years are listed last on the sale site, and are grouped with current year taxes, if applicable.

 

BIDDING

• Employees and officials of Arapahoe County, members of their immediate families or their agents may not acquire a tax lien at the Arapahoe County Tax Lien Sale per SS 39-11-151 C.R.S..

• Premiums are not returned and draw no interest.

• The minimum starting bid for each tax lien certificate is equal to the amount of the unpaid taxes, interest, penalties and fees. • Bid increments shall be One dollar ($1).

• Premiums on winning bids are a cost of securing the tax lien and are not returned nor do they draw interest.

 

TERMS

• It is the Buyers’ responsibility to know the quality of the property on which they are paying the taxes and receiving a lien.

• At the close of the auction, all successful bids are final. No changes in, or cancellation of, liens purchased can be made after the lien is sold.

• The Arapahoe County Treasurer's office will safeguard the original Certificates of Purchase.

 

INTEREST

• Premiums do not draw interest.

• When redeemed, your certificate will pay nine points over the Federal Reserve Discount Rate as of September 1st. Certificates will earn 11% for the current year’s sale, except for erroneous sales which will receive two points above the Discount Rate but no lower than 8%.

 

TAX LIEN

• You do not have ownership rights to the property, simply a property tax lien.

 

SUBSEQUENT TAXES

• If the owner does not pay future taxes before August 1st each year, you will be notified of the amount due and you may pay them if you wish. Your payment will be endorsed onto your lien and will accrue interest at the same rate as your certificate.

• If the property is in bankruptcy, subsequent taxes cannot be endorsed.

 

TREASURER’S DEED

• The majority of properties are redeemed.

• A Treasurer’s Deed may be applied for three years after the date of the sale if the tax lien remains unredeemed. A deposit is required to cover expenses.

• Tax liens expire and are cancelled after 15 years, if they remain unredeemed.

 

 

SUMMARY OF IMPORTANT DATES AND INFORMATION

 

  Bidder Accounts
  Allow foreign bidder registrations No
  Single simultaneous bidder rule No
  Allow sub-accounts No
 
  Auction Information
  Bidding style Proxy Bid Auction
  0% bids use proxy system No
  Automatic certificate rollup / rollup fee --- ---
 
  Auction Dates and Times
  Registration begins (site opens)**   08/17/2017 at 8:00 AM  MT  
  Deposits or budgets begin    10/13/2017 at 8:00 AM MT   
  Bidding begins    11/02/2017 at 8:00 AM MT   
 
  Deposits or budgets end   11/01/2017 at 4:00 PM MT  
  Registrations end    Open Year-Round 
   
  First batch closes   11/06/2017 at 8:00 AM MT  
  Batch closing interval 60 Minutes
  Last batch closes (auction ends)   11/06/2017 at 12:00 PM MT  
   
  Payment due date   11/08/2017 at 12:00 PM MT   
 
  Budget, Deposit and Payment Information  
  Deposit required (% of estimated winnings)   10%
  Minimum deposit amount   $0.00
   
  Deposit / Payment types acceptable: Deposits Payments
      Budget  No ---
      ACH  Yes Yes
      ACH auto-debit final payment  --- No
      Wire transfers Yes Yes
      Counter payments Yes Yes
 
  Redemptions via ACH Yes
 
  Public Access
  Public computers available Treasurer's Office
 
  ** Subject to change. The site will open when approved by the County.  

 

For an explanation of any of the terms above, please visit the FAQs.
 
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