PREQUALIFICATION OF BIDDERS
PUBLIC TRUSTEE FORECLOSURE SALES
Effective January 1, 2000
Bidders, other than foreclosing lenders, must satisfy the following prequalification requirements:
Registration
Each bidder must complete registration with a deputy. The
registration form provided by the Public Trustee must be completed, signed, and submitted prior to 9:45 a.m. the day of sale. Prospective bidders not arriving enough in advance of the sale to register will
NOT be permitted to bid. Bidders must identify on the registration form the name of any company or other legal entity they represent in the bidding.
Colorado corporations, limited liability corporations, and limited partnerships will be required to present proof of registration and current status with the Colorado Secretary of State, and may be asked periodically to update that documentation.
-
All employees of Colorado corporations, limited liability corporations, or limited partnerships authorized to bid on behalf of those entities must be identified on the registrations and must present valid Colorado driver’s licenses or other government-issued photo IDs.
Payment
At the time of registration, each bidder must present a certified check, teller’s check, or cashier’s check, drawn on a Colorado bank and payable to Denver County Public Trustee, in a minimum amount of $1.00 over the foreclosing lender’s bid. OFFICIAL CHECKS ARE ACCEPTED. Separate checks must be tendered for each property on which bid is made. Funds in the specified amount also may be sent by wire transfer to the Public Trustee’s account the day before the sale (must be verifiable before the time of sale). The checks or wire-transferred funds of unsuccessful bidders will be returned following the conclusion of the sale. The successful high bidder’s check will be cashed.
-
If the bid amount is higher than the amount tendered, the successful bidder shall have until 2:30 p.m. the same day of the sale to return with additional funds (by certified check, teller’s check, cashier’s check, or verified wire transfer). FAILURE TO RETURN WITH THE ADDITIONAL FUNDS BY THE SPECIFIED TIME WILL RESULT IN THE HIGH BID BEING INVALIDATED. THE FUNDS OF THE HIGH BIDDER WHOSE BID IS INVALIDATED AND THAT ARE HELD BY THE PUBLIC TRUSTEE WILL BE RETURNED TO SAID BIDDER ON OR BEFORE THE 30TH DAY FOLLOWING THE DATE OF THE SALE.