Foreclosure Bids and Sales – Douglas County

The sale takes place every Wednesday at 10:00 am in the BOCC Hearing Room at 100 Third Street, Castle Rock.

By noon on the Monday prior to the sale (or the preceding Friday if Monday is a holiday), prior to the public trustee’s sale, the foreclosure lender must make a written bid to purchase the property. I have. This will be the lender’s minimum bid for the public trustee auction. Lenders may amend their bids in writing by noon Tuesday or in person at the time of sale. If there are no bids from the lender of the listed property, the sale will continue for at least one week.

  • Current status of public trustees Pre-sale list Accessible in the Foreclosure Search after 12:00 on the Monday before the auction (if Monday is a holiday, it will be posted on the preceding Friday). Amounts in dollars indicate the lender’s minimum bid on the day of the sale. When using the property search app, click the calendar in the sales date field and enter Wednesday’s scheduled sales date. Be sure to include the same date in both. from When To date. Press to display the requested sales list. seek button.

Foreclosed Property Search

  • It is your responsibility to complete your own research before coming to the sale. Public Trustee does not guarantee that any seized deed is a first lien. The public trustee does not know if taxes have been paid or if there are other liens on the property.

Foreclosure sale process

Sales reception will start at 9:30 am on the day of sale. Bidders can call the public trustee’s office by Wednesday to pre-register. All prospective bidders are required to check-in and/or register with a sales representative prior to the 10:00 am start to expedite the sales process. Prospective bidders are asked to indicate the foreclosures they are interested in bidding on and complete a bid sheet. Only foreclosures of interest are read at the time of sale.

Parties interested in bidding on real estate must possess certified funds made to the Douglas County Public Trustee. Lender’s minimum bid plus $50Deputy will verify the amount of the Accreditation Fund and verify the information provided on the bid sheet. (Bidders cannot participate in the auction until qualified funds are confirmed.)

If an individual is unable to attend the auction, documentation must be provided authorizing an agent to bid on their behalf. If the name on the proof of purchase is different from the person authorized to bid, the exact name of the person/company to whom the proof of purchase is issued must be specified in the bid sheet.

At the opening of each property’s auction, the minimum written bid from the mortgaged lender will be announced by the sales officer as the starting bid.All subsequent bids will be made in units of at least 1 $50 More than the last bid.Bids are competitive and verbal Each bidder announces his name and bid amount.

Successful bidders will be required to provide qualified funds once final bids have been determined.

If the successful bidder provides a security deposit for the difference above the minimum required amount, a refund check will be issued after confirmation that the funds have been cleared.This should happen in 4th The business day following the sale, or later if the check was written to a bank outside the Federal Reserve Area. Checks will be mailed to the winning bidder unless the bidder has requested a hold on the Competitive Bid Information Sheet. If the winning bidder requests time to exchange an additional check overpaying the winning bid balance with a new check paying exactly the winning bid balance, the public trustee may allow additional time up to two hours after execution. increase. Public Trustee Foreclosure Sale.

Upon request, public trustees may provide up to 2 hours after completion of Public Trustee Foreclosure Sale Acquire the full amount of the difference between the winning bids. In such cases, the winning bidder must present cash or authorized funds to cover the full amount. Funds received within 2 hours of the end of the sale will be considered paid at the time of sale. If the Public Trustee cannot confirm receipt of the funds at the designated electronic account or office at the end of his two hour period, the Public Trustee will contact the next highest bidder. The bidder is given 2 hours for him to generate the funds.

This process continues for each property that has a registered bidder. For properties where no one has submitted a bid, the property will be listed as sold to the mortgage lender who submitted the minimum written bid. A proof of purchase (COP) will be issued to the winning bidder.

All monies payable to the Trustee at the time of sale of foreclosure shall be in cash, electronically transferred to the Trustee’s account available for such purposes, or by authenticated check, bank check, bank check, or designated as an official. must be a bill of exchange. bank check or bank check, as these terms are defined and governed by the Uniform Commercial Code, Title 4, CRS, paid to public trustees, authenticated or issued by state chartered banks, savings and bank checks in Colorado Loan associations, or credit unions, or federally licensed banks, savings banks, or credit unions licensed to do business.

The foregoing rules are subject to change based on best practices and special circumstances as determined by the Douglas County Public Trustee. Changes will be posted on the Public Trustee’s Office and on the Douglas County Public Trustee’s website five calendar days before the new rules come into effect.

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