Bidding Rules
Pitkin County Colorado
Bidding Rules for Annual Public Auction of Delinquent Real Estate Taxes
2023 Tax Lien Sale (For Tax Year 2022 and priors)
SUMMARY OF IMPORTANT INFORMATION
THE INTEREST RATE FOR TAX LIEN SALE CERTIFICATES SOLD IN 2023 is 15%.
- If you taking part in the sale you cannot be a County employee, their spouse or family member nor can you be an agent for them per C.R.S. 39-11-151.
- The tax lien parcel list is created to the best of our knowledge. If the parcel is later discovered as a “wrongfully sold tax lien” the Tax Lien Certificates of Purchase sold would only earn 8% per annum.
- Those investing in tax liens do so at their own risk and are advised to exercise due diligence in carefully analyzing which tax liens to bid on. There are no guarantees expressed or implied regarding whether a tax lien will prove to be a profitable investment.
- The property information accessible on the bid pages was obtained from the Assessor’s office and is for reference only ( please note that this property information, provided by the assessor’s office, represents the most current assessment year, not the tax year associated with this tax lien sale, as taxes are paid one year in arrears). It is the buyer’s responsibility to research auction items thoroughly prior to placing bids.
- Sequence of Sale will be done as followed:
- Delinquent taxes will be done with premium bidding; bid increments shall be one dollar ($1.00). Premium bids are not refundable and do not earn interest.
- Minimum bids are equal to the amount of the unpaid taxes, interest, penalties, and fees.
- Preliminary bidding for tax liens begin on Friday, October 6th, 2023. The tax sale auction will conclude on Thursday, November 2nd, 2023 at 12:00 PM MST and all bids must be submitted by that time. Once the batch closes, the bids become final and may not be changed or withdrawn.
- All investors are required to submit a deposit via ACH equal to or more than 10% of their total anticipated winning bids by Thursday, October 26th, 2023 at 2:00 PM MST.
- All payments must be made via ACH by Friday, November 3rd, 2023, 2:00 PM MST. If you are unable to render the funds within the timeframe, your properties will be available for sale to the first interested party. This would be considered forfeiting your bid which will result in a five year period where neither you nor an agent for you may take part in our County tax lien sale.
- All bidders are required to complete the online registration which includes name that will go on the certificates, address and Social Security number or Tax Id. Bidders 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.
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)** | 10/06/2023 at 8:00 AM MT | ||
| Deposits, Registration fees and Budgets begin | 10/06/2023 at 8:00 AM MT | ||
| Bidding begins | 10/06/2023 at 8:00 AM MT | ||
| Deposits, Registration fees and Budgets end | 10/26/2023 at 2:00 PM MT | ||
| Participation Requirements |
Submit a deposit
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| Participation Requirements Due Date | 10/26/2023 at 2:00 PM MT | ||
| Registrations end | 10/26/2023 at 2:00 PM MT | ||
| First batch closes | 11/02/2023 at 11:00 AM MT | ||
| Batch closing interval | 60 Minutes | ||
| Last batch closes | 11/02/2023 at 12:00 PM MT | ||
| Auxiliary batch opens | 11/02/2023 at 1:00 PM MT | ||
| Auxiliary batch closes | 11/02/2023 at 4:00 PM MT | ||
| Payment due date | 11/03/2023 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 | No | ||
| Registration Fee Applied to Winnings | No | ||
| 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 | Pitkin County Library | ||
| ** Subject to change. The site will open when approved by the County. | |||