Garfield County, Colorado 2017 Tax Certificate Sale Auction
Information on the Public Auction of Delinquent Real Property Tax Liens
The Tax Lien Sale is a public auction usually held around the first part of November. Buyers pay the total advertised price consisting of tax, interest to the date of auction and an advertising fee. They also pay a certificate fee and an auction fee, plus any premium bid. The person paying the highest amount is issued a Certificate of Purchase. This is a negotiable document representing a lien on the property and it is valid for 15 years. The buyer does not recover the premium paid over the starting amount. The certificate earns interest at the rate stated on the certificate with portions of calendar months considered as whole months.
A buyer list showing certificate numbers, parcel numbers, and total paid will be provided to the buyer. Buyers are responsible for keeping adequate records. The Treasurer’s Office is responsible for the public auction of the tax lien, immediate notification to buyer of redemptions, and safe-keeping of the original Certificate of Purchase (we will provide copies of the Certificate upon request).
The redemption amount paid is the certificate amount (tax, interest, advertising, and fees), plus redemption interest. The annual redemption interest rate for each year’s public auction is established by adding 9% to the September 1st Federal Reserve discount rate. One twelfth of this rate accrues each month or a portion thereof. Upon redemption a check or ACH will be initiated immediately.
Buyers may, after July 1st pay the subsequent year’s unpaid taxes for endorsement onto their certificates. These payments earn the same interest as the original public auction.
If the property has not been redeemed after three years from the date of public auction, the buyer can apply for a Treasurer’s Deed to the property. A deposit of $250.00 is due at the time of application. After a title search, advertising and notification of all interested parties, a Treasurer’s Deed is issued if there has been no redemption. This process generally takes four to six months.
If you wish to participate in our public auction you must register prior to the start of the auction, and a financial deposit is required. The subject of the sale of Tax Liens, Deeds, Redemptions, etc., which are administered by the County Treasurers, is covered by Colorado Revised Statutes, Title 39, Articles 11 and 12.
In accordance with C.R.S. §39-11-115(2)(c) and (d), minimum bids and bid increase increments are as follows:
- Minimum bids: The minimum starting bid for each tax lien is equal to the amount of the unpaid taxes, interest, penalties, and fees (the tax lien face value).
- Bid increments: Bid increments shall be One dollar ($1.00). Tax liens are awarded to the highest bidder, or in the event of a tie, the winner will be selected at random by the auction engine, and the winning bid amount will equal the amount of the tie bid.
Tax liens will be grouped into batches and sold in one hour increments starting on Thursday, November 2nd, 2017, at 9:00 AM MT and concluding on Thursday, November 2nd, 2017, at 3:00 PM MT. Tax liens in each batch will be identified with a closing time.
In order to participate, each bidder shall make a minimum deposit of $75.00 on the auction site no later than Friday, October 27th, 2017 at 2:00 PM MT AND set a budget in the amount of their estimated winnings prior to the batch close date and time.
Bids may be made starting Thursday, October 5th, 2017, at 10:00 AM MT. Bids will be accepted for each tax lien until the batch containing it closes. Prior to the closing of the batch, bidders may change or withdraw their bids. Once a batch closes, the bids become final and may not be changed or withdrawn.
Final Payment: Each winning bidder shall deposit sufficient funds to cover the total amount of the bidder’s winning bids (on this web site) no later than Wednesday, November 8th, 2017 at 2:00 PM MT. If a winning bidder fails to make final payment for any reason, the Treasurer may, at their sole discretion, award the tax lien(s) to another bidder or may offer the tax lien(s) for re-sale. The Treasurer may prohibit a person who fails to pay the full amount due, from participating in tax lien sales for up to five years in accordance with C.R.S. 39-11-116.
Redemption interest is 11% per annum.
- Those investing in tax liens do so at their own risk and are advised to exercise due diligence in carefully analyzing which tax liens to bid on. There are no guarantees, expressed or implied, regarding whether a tax lien will prove to be a profitable investment.
- The property information accessible on the bid pages was obtained from the Assessor’s office prior to the start of the current auction and is for reference only (please note that this property information provided by the Assessor’s office, represents the most current assessment year, not the tax year associated with this tax lien sale, as taxes are paid one year in arrears). It is the buyer’s responsibility to research auction items thoroughly prior to placing bids.
- County officials and employees of Garfield County and members of their families are not permitted to purchase at the public auction.
|Allow foreign bidder registrations||No|
|Single simultaneous bidder rule||No|
|Bidding style||Proxy Bid Auction|
|0% bids use proxy system||Yes|
|Automatic certificate rollup / rollup fee||---||---|
|Auction Dates and Times|
|Registration begins (site opens)**||09/11/2017 at 10:00 AM MT|
|Deposits or budgets begin||09/11/2017 at 10:00 AM MT|
|Bidding begins||10/05/2017 at 10:00 AM MT|
|Deposits or budgets end||11/02/2017 at 3:00 PM MT|
|Registrations end||10/27/2017 at 2:00 PM MT|
|First batch closes||11/02/2017 at 9:00 AM MT|
|Batch closing interval||60 Minutes|
|Last batch closes (auction ends)||11/02/2017 at 3:00 PM MT|
|Payment due date||11/08/2017 at 2:00 PM MT|
|Budget, Deposit and Payment Information|
|Deposit or Budget required (% of estimated winnings)||100%|
|Minimum deposit amount||$0.00|
|Registration Fee Refundable||Yes|
|Registration Fee Applied to Winnings||Yes|
|Deposit / Payment types acceptable:||Deposits||Payments|
|ACH auto-debit final payment||---||Yes|
|Redemptions available via ACH?||No|
|Public computers available||Public Library|
|** Subject to change. The site will open when approved by the County.|
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