commercialproperty

It is your obligation to do research study before pertaining to the sale to bid on a residential or commercial property. The general public Trustee can not and does not guarantee that the deed of trust being foreclosed is a very first lien - it might be a second or third lien. The Public Trustee does not understand the condition of the residential or commercial property, or if the residential or commercial property taxes or evaluations have actually been paid or if there are any other liens against the residential or commercial property. If you do not know how to examine 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.

You can obtain the foreclosure case number for the residential or commercial property by looking it up at our website, Foreclosure Search.

On Tuesday, 2 days before sale, we will have posted in our workplace by roughly 2:00 p.m. listing of residential or commercial properties scheduled to go to sale that week (Thursday). The lending institution's composed quote is required to be offered, in composing, to the Public Trustee prior to the publishing of the Pre-Sale Continuance List (foreclosure search, foreclosure reports). The bids are public details and you may search our foreclosure search, sale details, quote, to see the opening bid amount. Bids received from the loan providers might be changed at the time of sale so long as the loan provider's agent is personally present at sale and re-executes the modified composed quote.

Be encouraged: The lender or its attorney, or the Public Trustee, might pull or continue a residential or commercial property from the sale list at any time up till the sale starts Thursday early morning.

Sign in on sale day:

The Clear Creek County Public Trustee holds foreclosure sales on Thursday's promptly 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)

If you mean to bid on a residential or commercial property, you ought to come to the workplace about 15 to 20 minutes early to complete a Bidder Information Form (PDF) with your name, address, and so on. This details will be used for the Certificate of Purchase, please make certain it is precise and understandable.

Those thinking about bidding should personally go to the sale. We do not take over-bids by phone, fax or email. If you are appearing 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 actually written authorization, a letter of company notarized pursuant to CRS 15-14-607, and state that your bid is being entered on behalf of that other person or entity at the time the bid is made.

Bidding at the sale continues in increments of $5.00 - if the lending institution has actually sent a quote for $150,000.00, for example, you must bid a minimum of $150,005.00 in order to be the successful bidder.

You will also be needed to have enough funds with you to bid on the residential or commercial property. Payment of successful quote quantities must be made in the kind of an official bank cashier's check or accredited check. Checks should be payable just to the "Clear Creek County Public Trustee". We can not accept third party checks. The general public Trustee will strike and sell the residential or commercial property to the effective bidder after bidding has actually stopped and funds have been supplied.

Pursuant to laws in impact on January 1, 2008 for cases began after that date, the effective bidder will not get an original Certificate of Purchase at the time of sale. Successful bidders will be provided with a Receipt from the Public Trustee after the sale is completed. A Certificate of Purchase will be released in the name and address of the effective bidder as shown on your Bidder Information Form and recorded (within 5 service days) by the Public Trustee's workplace and kept in our workplace records.

As the beneficiary named in the Certificate of Purchase, you do not have instant right of access to the residential or commercial property. A Certificate of Purchase does not move title to you, it merely evidences your investment made at the time of sale.

The Redemption Process:

A junior lien holder has 8 company days after the sale to submit an intent to redeem. The most senior lien might redeem 15 to 19 organization days after the sale, however no later than noon the last day. If numerous lien holders submit an intent to redeem, each additional lien holder will get a five day redemption period.

If you are called for redemption figures, interest is determined at the rate specified on the note and additional costs are limited to those allowed by statute. Please be prepared to offer invoices for expenditures sustained. Redemption figures must be received within 13 service days after the sale. The declaration must specify all amounts needed to redeem including the amount of daily interest and the rates of interest. The statement might be changed up till 2 business days before the start of the next suitable redemption duration. Your statement of redemption must abide by 38-38-302 C.R.S.

. If redemption happens, the Certificate of Purchase holder is paid the quote amount, interest at the rate specified in the Deed of Trust and Note being foreclosed, and any other allowed expenses as specified by Colorado Revised Statutes (receipts should be supplied) as provided in C.R.S. 38-38-107 and as included in your redemption statement. Thereafter, upon composed demand and payment of the required charges, the general public Trustee's workplace will issue a Verification Deed to convey title to the last redeeming celebration.

If no Notice of Intent to Redeem is filed and no redemption is made by anybody, you should ask for, in composing, that our workplace issue your Confirmation Deed, no earlier than 15 service days after the sale. You must pay a $30.00 fee, plus recording costs, for issuance of the recorded Deed. The Confirmation Deed shall be released by the Public Trustee and taped with the Clerk & Recorder's workplace. If you are the beneficiary of that Deed, you will then have ownership of the residential or commercial property.

Notice to an owner in foreclosure:

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 due to the fact that you may have funds due to you.

The Public Trustee's workplace does not offer legal suggestions and we do refrain from doing any expulsion procedures. Once the Confirmation Deed is provided by this workplace and taped, the Public Trustee's file is closed.