From e01acd620c98caff27d4cab0d8deeafea9782767 Mon Sep 17 00:00:00 2001 From: Carole Finniss Date: Sat, 20 Sep 2025 02:04:43 +0000 Subject: [PATCH] Add Bidding at a Foreclosure Sale --- Bidding-at-a-Foreclosure-Sale.md | 20 ++++++++++++++++++++ 1 file changed, 20 insertions(+) create mode 100644 Bidding-at-a-Foreclosure-Sale.md diff --git a/Bidding-at-a-Foreclosure-Sale.md b/Bidding-at-a-Foreclosure-Sale.md new file mode 100644 index 0000000..a89a2b2 --- /dev/null +++ b/Bidding-at-a-Foreclosure-Sale.md @@ -0,0 +1,20 @@ +
It is your duty to do research before concerning the sale to bid on a [residential](https://njendani.com) or commercial property. The Public Trustee can not and does not ensure that the deed of trust being foreclosed is a very first lien - it could be a 2nd or third 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 have actually been paid or if there are any other liens against 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 wish to work with someone to do the research study for you.
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You can obtain the foreclosure case number for the residential or commercial property by looking it up at our site, [Foreclosure](https://panagiotidisrealestate.gr) Search.
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On Tuesday, 2 days before sale, we will have posted in our office by roughly 2:00 p.m. [listing](https://www.vendacasas24.com) of residential or commercial properties scheduled to go to sale that week (Thursday). The loan provider's composed bid is needed 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 information and you may search our foreclosure search, sale info, quote, to see the opening bid quantity. Bids got from the lenders may be modified at the time of sale so long as the lending institution's agent is personally present at sale and re-executes the [changed composed](https://roccoimob.com) quote.
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Be advised: The lender or its lawyer, or the Public Trustee, might pull or continue a residential or commercial property from the sale list at any time up until the sale starts Thursday morning.
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Check in on sale day:
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The Clear Creek County Public Trustee holds foreclosure sales on Thursday's without delay 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)
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If you mean to bid on a residential or commercial property, you must reach the office about 15 to 20 minutes early to complete a Bidder Information Form (PDF) with your name, address, etc. This info will be used for the Certificate of Purchase, please make certain it is accurate and clear.
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Those thinking about bidding must personally participate in the sale. We do not take over-bids by phone, fax or email. If you are [appearing](https://millerltr.com) at the sale to bid on behalf of someone other than yourself or another entity that you do not own or control, you require to have composed authorization, a letter of firm notarized pursuant to CRS 15-14-607, and verbally state that your quote is being entered on behalf of that other individual or entity at the time the bid is made.
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Bidding at the sale continues in increments of $5.00 - if the loan provider has submitted a quote for $150,000.00, for instance, you must bid a minimum of $150,005.00 in order to be the effective bidder.
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You will likewise be needed to have sufficient funds with you to bid on the residential or commercial property. Payment of effective quote amounts must be made in the type of an official bank cashier's check or licensed check. Checks need to be payable only to the "Clear Creek County Public Trustee". We can not accept third celebration 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 provided.
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[Pursuant](https://challengerbrokers.com) to laws in result on January 1, 2008 for cases started after that date, the effective bidder will not get an initial Certificate of Purchase at the time of sale. Successful bidders will be offered with an Invoice from the general public Trustee after the sale is completed. A Certificate of Purchase will be issued in the name and address of the successful bidder as shown on your Bidder Information Form and recorded (within 5 service days) by the Public Trustee's office and [maintained](https://peterrealestatebroker.com) in our workplace records.
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As the grantee 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 proofs your investment made at the time of sale.
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The Redemption Process:
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A junior lien holder has 8 service days after the sale to submit an intent to redeem. The most senior lien may redeem 15 to 19 business days after the sale, however no later on than noon the last day. If multiple lien holders file an intent to redeem, each extra lien holder will receive a five day redemption duration.
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If you are gotten in touch with for redemption figures, interest is computed at the rate defined on the note and extra expenditures are limited to those enabled by statute. Please be prepared to offer invoices for expenditures sustained. Redemption figures need to be received within 13 service days after the sale. The declaration should define all amounts needed to redeem consisting of the amount of daily interest and the interest rate. The statement might be modified up until 2 company days before the start of the next appropriate [redemption duration](https://oyomandcompany.com). Your statement of redemption need to abide by 38-38-302 C.R.S.
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. 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 allowed expenses as specified by Colorado Revised Statutes (invoices must be supplied) as supplied in C.R.S. 38-38-107 and as included in your redemption declaration. Thereafter, upon [composed](https://360negocio.com.ng) demand and payment of the needed costs, the [Public Trustee's](https://efraimnegociosimobiliarios.com.br) office will issue a Verification Deed to [communicate](https://yurdumemlak.az) title to the last redeeming celebration.
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If no Notice of Intent to Redeem is [submitted](https://horizonstays.co.uk) and no redemption is made by anyone, you must request, in composing, that our office concern your Confirmation Deed, no earlier than 15 organization days after the sale. You must pay a $30.00 cost, plus recording costs, for issuance of the taped Deed. The Confirmation Deed will be issued by the Public Trustee and tape-recorded with the Clerk & Recorder's workplace. If you are the grantee of that Deed, you will then have ownership of the residential or commercial property.
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Notice to an owner in foreclosure:
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If your residential or commercial property goes to foreclosure auction sale and is purchased for more than the total owed to the lender and to all other lien holders, please contact the Public Trustee's workplace after the sale since you may have funds due to you.
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The Public Trustee's workplace does not supply legal [recommendations](https://mstarproperty.com) and we do refrain from doing any eviction proceedings. Once the [Confirmation](https://enya.estate) Deed is issued by this office and recorded, the general public Trustee's file is closed.
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