commit d5d14c47ded752c298c90e576432c612b6163d6f Author: daniellamcderm Date: Thu Aug 28 18:34:38 2025 +0800 Add Bidding at a Foreclosure Sale diff --git a/Bidding-at-a-Foreclosure-Sale.md b/Bidding-at-a-Foreclosure-Sale.md new file mode 100644 index 0000000..4f11a7c --- /dev/null +++ b/Bidding-at-a-Foreclosure-Sale.md @@ -0,0 +1,20 @@ +
It is your responsibility to do research before coming to the sale to bid on a residential or [commercial property](https://naijahomefinder.com). The Public Trustee can not and does not ensure that the deed of trust being foreclosed is a first lien - it could be a second or third lien. The General Public Trustee does not understand the [condition](https://www.reblif.com) of the residential or commercial property, or if the residential or commercial property taxes or assessments have actually been paid or if there are any other liens versus 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 acquire the foreclosure case number for the residential or [commercial property](https://acebrisk.com) by looking it up at our site, Foreclosure Search.
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On Tuesday, two days before sale, we will have posted in our workplace by around 2:00 p.m. listing of residential or commercial properties arranged to go to sale that week (Thursday). The lending institution's composed quote is needed to be supplied, in writing, to the general [public Trustee](https://renhouse.vn) prior to the posting of the Pre-Sale Continuance List ([foreclosure](https://propertybaajaar.com) search, foreclosure reports). The bids are public information and you may search our foreclosure search, sale information, bid, to see the opening quote amount. Bids received from the lending institutions may be [modified](https://caneparealty.com) at the time of sale so long as the lending institution's representative is personally present at sale and re-executes the modified written bid.
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Be advised: The lender or its attorney, or the Public Trustee, may pull or continue a residential or commercial property from the sale list at any time up until the sale begins Thursday morning.
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Sign in on sale day:
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The Clear Creek County Public Trustee holds foreclosure sales on Thursday's immediately 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 intend to bid on a residential or commercial property, you ought to come to the office about 15 to 20 minutes early to finish a Bidder Information Form (PDF) with your name, address, and so on. This details will be used for the Certificate of Purchase, please be sure it is accurate and understandable.
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Those thinking about bidding must 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 somebody aside from yourself or another entity that you do not own or control, you require to have written authorization, a letter of company notarized pursuant to CRS 15-14-607, and verbally state that your bid is being entered upon behalf of that other person or entity at the time the quote is made.
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Bidding at the sale proceeds in increments of $5.00 - if the lending institution has sent a quote for $150,000.00, for example, you should bid a minimum of $150,005.00 in order to be the successful bidder.
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You will also be required to have enough funds with you to bid on the residential or [commercial property](https://griyakamu.com). Payment of effective quote need to be made in the form of an official bank cashier's check or certified check. Checks must be payable only to the "Clear Creek County Public Trustee". We can decline 3rd party checks. The Public Trustee will strike and sell the residential or commercial property to the successful bidder after bidding has actually ceased and funds have actually been provided.
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Pursuant to laws in impact on January 1, 2008 for cases started after that date, the successful bidder will not get an original Certificate of Purchase at the time of sale. Successful bidders will be supplied with a Receipt from the general public Trustee after the sale is finished. A Certificate of Purchase will be released in the name and address of the successful bidder as revealed on your Bidder Information Form and tape-recorded (within 5 organization days) by the Public Trustee's office and kept in our office records.
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As the grantee called 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 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 company days after the sale to file an intent to redeem. The most [senior lien](http://v1.kangrooo.com) may redeem 15 to 19 business days after the sale, but no later on than midday the last day. If several lien holders submit 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 determined at the rate specified on the note and extra costs are restricted to those permitted by statute. Please be prepared to supply receipts for expenditures sustained. Redemption figures should be received within 13 service days after the sale. The declaration must define all [amounts required](https://ivoryafrica.com) to [redeem including](https://www.growhomesestate.com) the amount of daily interest and the rates of interest. The statement might be changed up until 2 company days before the start of the next suitable redemption period. Your statement of redemption should adhere to 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 specified in the Deed of Trust and Note being foreclosed, and any other allowable expenses as specified by Colorado Revised Statutes (invoices need to be provided) as supplied in C.R.S. 38-38-107 and as consisted of in your redemption declaration. Thereafter, upon composed demand and payment of the required fees, the Public Trustee's office will release a Confirmation Deed to communicate title to the last redeeming celebration.
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If no Notice of Intent to Redeem is submitted and no redemption is made by anybody, you need to ask for, in writing, that our office concern your Confirmation Deed, no quicker than 15 service days after the sale. You should pay a $30.00 fee, plus recording expenses, for issuance of the taped Deed. The Confirmation Deed will be released by the Public Trustee and tape-recorded with the Clerk & Recorder's office. If you are the beneficiary 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 [acquired](https://njendani.com) for more than the overall owed to the lender and to all other lien holders, please contact the general public Trustee's workplace after the sale because you might have funds due to you.
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The Public Trustee's workplace does not offer legal advice and we do not do any expulsion procedures. Once the Confirmation Deed is issued by this workplace and recorded, the [Public Trustee's](https://nearestate.com) file is closed.
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