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PLEASE NOTE: If the Public Trustee's Office is closed on a regularly-scheduled Wednesday sale date because of a County-wide office closure (due to weather conditions, etc.) the sales scheduled for that day will be CANCELLED. If you suspect that our office may be closed due to weather conditions, please attempt to call our office Wednesday morning at 303.835.5700. Any sales cancelled because the office is closed will be CONTINUED either to the next regularly-scheduled Wednesday sale or to the next business day that the office is open.
PLEASE NOTE: The Colorado foreclosure laws may be changed from time to time by the Colorado General Assembly through legislation signed by the Governor. The laws have CHANGED several times over the past few years. Please check Title 38, Article 38 of the Colorado Revised Statutes for CURRENT laws relating to foreclosures. Due to the change in laws, the Public Trustee's office will be simultaneously processing foreclosures under the NEW and the OLD laws.
The Public Trustee is NOT legally authorized to stop a foreclosure and can continue a foreclosure sale only under very limited certain circumstances defined in the law. If a written bid from the lender is not TIMELY RECEIVED as set forth above before a foreclosure is set to go to sale, the foreclosure is continued for at least one week. If the Public Trustee has not timely received an Order Authorizing Sale from the District Court (out of a Rule 120 civil proceeding), then the sale is continued for at least one week.
A Notice or Combined Notice of Sale and Rights to Cure and Redeem is mailed to all parties with a recorded interest in the property and is published for five consecutive weeks in general circulation newspapers within the county. The Combined Notice sets out the time and date of the foreclosure sale.
Filing of a bankruptcy by the owner of the property stays (or delays) the foreclosure until the automatic stay is lifted or the bankruptcy court abandons the property or the bankruptcy case is dismissed or closed. The foreclosure sale is "stayed" week to week until the United States Bankruptcy Court takes action.
A listing of all foreclosures going to sale each Wednesday is available for viewing in the office of the Adams County Public Trustee Wednesday morning after 8:00 A.M. or on our website Tuesday night by approximately 4:30 P.M. A "tentative" sale list is posted to our website on Monday evening by approximately 4:30 P.M. -- that listing does not contain any bids received on Tuesday morning. The listing may be updated continuously right up to the sale time, as sales are continued, withdrawn, stayed by bankruptcy etc. After the foreclosure sale on Wednesday morning, the website will be updated as well to show all properties sold at the sale.
Parties interested in overbidding must be personally in attendance at the sale (or must have, in writing, authorized a representative to bid in their name and on their behalf). Bidding may begin at $1.00 over the lender's submitted bid, which is read aloud at the time of sale. The bidding is competitive and done orally and the highest bidder tendering sufficient, collectible funds wins. See our document entitled "How to Bid at the Public Trustee Foreclosure Sale" on the link below.
Cash or certified funds for the FULL amount of your bid, must be tendered to the Public Trustee's Office at the time of sale. The funds must be payable to the "Adams County Public Trustee". The Public Trustee, by law, CANNOT accept personal checks or third-party endorsed checks. Many over bidder's will bring in a Cashier's Check for the highest amount that they would be willing to bid, and a refund, if necessary, is sent to them within seven (7) days of the sale. Successful bidders at the auction sale should go to the Public Trustee's office immediately after conclusion of the entire sale to obtain a RECEIPT for the funds paid.
Under the laws in effect until 1/1/08, after the Public Trustee is assured that funds are collected by it, successful bidders at the sale will receive an original Certificate of Purchase (CP) from the Public Trustee and a duplicate of the CP is recorded in the Clerk and Recorder's office. The ORIGINAL of the Certificate of Purchase must be surrendered to the Public Trustee after all redemption periods have expired in order for a Public Trustee's Deed to be issued.
Under the laws in effect on 1/1/08 and thereafter, after the Public Trustee is assured that funds are collected by it, a Certificate of Purchase (CP) will be issued by the Public Trustee but the original, recorded CP will be retained in the Public Trustee's office - there will be no duplicate CP and the successful bidder will NOT receive the Certificate of Purchase. After all redemption periods have expired, the holder of the CP must request and pay the fees for a Public Trustee's Confirmation Deed to be issued.
PLEASE NOTE: For foreclosures processed under the laws in effect 1/1/08 and thereafter, the owner/borrower will NO LONGER HAVE ANY REDEMPTION PERIOD after the foreclosure sale. The owner/borrower will, however, have a longer period of time PRIOR to the foreclosure sale in which to "cure" the default on the loan. Junior lienors may maintain post-sale redemption rights.
The laws have also changed effective as of 9/1/2009 and 1/1/2010. Please refer to the Colorado Revised Statutes, Title 38, Article 38 for the changes and their effective dates.
Please consult your legal advisor for clarification of your rights, the rights of the homeowner and other lienholder's rights during the redemption period.
The interest under the Certificate of Purchase is fully assignable in writing, once the Certificate of Purchase has been issued by the Public Trustee. Written Assignments of the CP should be provided to the Public Trustee's office at the time the deed is requested and paid for so that an accurate Public Trustee's Deed or Confirmation Deed may be issued.
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