Bidding Rules

 

Summary of Dates and Important Information

 

Eagle County, Colorado 2019 Tax Certificate Sale Auction

• The web site will open for research and deposits beginning 10/10/2019. Formal bidding begins on 10/10/2019 and bids can be entered or modified until the closing of each batch on the day of the sale (11/07/2019). Additional information can be found on the FAQ (Frequently Asked Questions) page on this site and the Summary of Important Dates and Information below.

• A deposit equal to 10% of your total estimated winnings will be required. Deposits must be completed by 11/01/2019 at 2:00 PM MT. Deposits can be made by ACH online using the Make Deposit link on the left hand navigation once you're logged into the website or in person at the Eagle County Treasurer's Office located at Eagle County Treasurer Eagle, CO 81631. For questions regarding in office deposits, please contact the Eagle County Treasurer's Office at 970-328-8860 between M-F 8:00 AM to 5:00 PM MT.

• Each Buyer will be required to register online to participate. Buyers are responsible to assure 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 Eagle County, members of their immediate families or their agents may not acquire a tax lien at the Eagle County Tax Lien Sale per SS39-11-151 C.R.S.

• 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 ($1.00).

• Premiums on winning bids are a cost of securing the tax lien and are never 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.

 

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 12% 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.

 

 

SUMMARY OF IMPORTANT DATES AND INFORMATION

 

  Bidder Accounts  
  Allow foreign bidder registrations     No
  Single simultaneous bidder rule     No
 
  Auction Information  
  Bidding style     Proxy Bid Auction
  0 value bids use proxy system     No
 
  SubAccounts  
  Allow sub-accounts     No
  Automatic certificate rollup / rollup fee   --- ---
 
  Auction Dates and Times  
  Registration begins (site opens)**     10/10/2019 at 10:00 AM MT  
  Deposits, Registration fees and Budgets begin     10/10/2019 at 10:00 AM MT  
  Bidding begins     10/10/2019 at 10:00 AM MT  
 
  Deposits, Registration fees and Budgets end       11/01/2019 at 2:00 PM MT   
  Participation Requirements  

  Participation Requirements Due Date     11/01/2019 at 2:00 PM MT   
  Registrations end     11/01/2019 at 2:00 PM MT   
   
  First batch closes     11/07/2019 at 9:00 AM MT   
  Batch closing interval     60 Minutes
  Last batch closes     11/07/2019 at 2:00 PM MT  
   
  Auxiliary batch opens     11/07/2019 at 4:00 PM MT  
  Auxiliary batch closes     11/07/2019 at 5:00 PM MT  
   
  Payment due date     11/12/2019 at 2:00 PM MT   
 
  Budget, Deposit and Payment Information    
  Deposit or Budget required (% of estimated winnings)     10%
  Minimum deposit amount     $0.00
  Registration Fee     $0.00
  Registration Fee Refundable      Yes
  Registration Fee Applied to Winnings      Yes
   
  Deposit / Payment types acceptable:   Deposits Payments
      Budget    No ---
      ACH    Yes No
      ACH auto-debit final payment    --- Yes
      Wire transfers   No No
      Counter payments   No No
 
  Redemptions available via ACH?   No
 
  Public Access  
  Public computers available   Public Library
 
  ** 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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