Bidding Rules

Mesa County, Colorado https://mesa.coloradotaxsale.com/ 
Bidding Rules for Annual Public Auction of Delinquent Real Estate Taxes
2017 Tax Lien Sale (for Tax Year 2016)

 

Summary of Important Information

 

SALE

  • The Mesa County Tax Lien Sale will be held via the Internet beginning Wednesday, October 18th, 2017, and ending Wednesday, November 8th, 2017.
     
  • The website [https://mesa.coloradotaxsale.com/ ] will open for registration beginning Wednesday, August 9th, 2017.  Research of properties may begin Wednesday, October 18th, 2017. 
     
  • More detailed instructions on “How the Sale Works” can be found at the “Start Here”  button on this website.
     

REGISTRATION AND DEPOSITS

  • Each bidder must register on Mesa County’s Auction Website BEFORE they will be allowed to participate in the Tax Lien Sale.  Registration may begin Wednesday, August 9th, 2017.  Each bidder must be registered no later than Friday, November 3rd, 2017, in order to participate in Mesa County 2017 Tax Lien Sale.
     
  • All bidders must make a deposit BEFORE their bids will be accepted.  Deposits may begin as early as Wednesday, September 6th, 2017.
     
  • If participants are depositing funds via ACH, those funds are to be deposited on Mesa County’s Auction Website no later than 4:00 PM MT on Friday, November 3rd, 2017.
     
  • If participants are depositing funds via cash or certified funds, those funds are due in person at the Mesa County Treasurer’s office, 544 Rood Avenue, Grand Junction, Colorado, no later than 4:30 PM, on Monday, November 6th, 2017.  Personal checks will not be accepted.
     
  • Each bidder must make a deposit equal to Ten percent (10%) of the total dollar amount of tax certificates the bidder anticipates winning.  Final determination regarding the acceptability of any deposit is at the discretion of the Mesa County Treasurer. If a bidder’s deposit drops below Ten percent (10%) of the total dollar amount of all tax certificates won, plus the amount of active bids, while there are still active bids, the active bids will not be accepted.
     
  • Each bidder will be required to complete a form online with name, address and Social Security number (or Tax I.D.).  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.
     
  • The sequence of the published list in the local newspaper will be followed as closely as possible.
     

MINIMUM BIDS

  • The minimum starting bid for each tax certificate is equal to the amount of the unpaid taxes, interest, penalties, and fees.
     

BID INCREMENTS

  • Bid increments shall be One dollar ($1.00).
     

BIDDING

  • Employees and officials of Mesa County, members of their immediate families or their agents may not acquire a tax lien at the Mesa County Tax Lien Sale per C.R.S. 39-11-151.
     
  • “Premium bidding” is at the discretion of the bidder.  Premiums on winning bids are a cost of securing the tax lien and are not returned nor do they draw interest.
     
  • Bidding may begin on Wednesday, October 18th, 2017, and will end on Wednesday, November 8th, 2017.
     
  • Each batch containing approximately 200 properties will close in 60 Minutes increments.  For example, on Wednesday, November 8th, 2017,  Batch 1 will close at 9:00 AM (MT)  Batch 2 will close at 10:00 AM.; Batch 3 will close at 11:00 AM; Batch 4 will close at 12:00 PM (Noon); Batch 5 will close at 1:00 PM.; and Batch 6 will close at 2:00 PM.
     
  • Once a batch closes, the bids become final and may not be changed or withdrawn.
     
  • All successful auction results will be posted by bidder number.
     

TERMS

  • It is the Bidder’s responsibility to know the quality of the property on which they are paying the taxes and receiving a lien.
     
  • At the close of the auction, all successful bids are final.  No changes in, or cancellation of, liens can be made after the lien is sold.
     

INTEREST

  • Premiums do not draw interest.
     
  • When redeemed, your certificate will pay nine points over the Federal Reserve Discount Rate as of September 1st. Certificates will earn 11% for the current year’s sale, except for erroneous sales which will receive two points above the Discount Rate but no lower than 8% 

PAYMENT

  • Each winning bidder shall make a payment of funds sufficient to cover the total amount of the bidder’s winning bids by ACH on the Auction Website no later than Thursday, November 9th, 2017, at 3:00 PM (MT); or
     
  • Each winning bidder wishing to make payment of funds sufficient to cover the total amount of the bidder’s winning bids by cash, certified funds, must make such payment at the Mesa County Treasurer’s office, in person, no later than Thursday, November 9th, 2017, at 3:00 PM (MT)
     
  • If a winning bidder fails to make such payment by this time, the Treasurer may, in the Treasurer’s sole discretion, award the tax certificates to another bidder or may offer the tax lien for sale in accordance with C.R.S. 39-11-116.
     
  • If a winning bidder fails to pay the amount due from bidding on sales, the Treasurer may prohibit a person from participating in future sales up to five years [C.R.S. 39-11-116].
     

TAX LIEN

  • You do not have ownership right to the property, simply a property tax lien.
     

SUBSEQUENT TAXES

  • If the owner does not pay future taxes before August 1st each year, you will be notified of the amount due and you may pay them if you wish.  Your payment will be endorsed onto your lien and will accrue interest at the same rate as your certificate.
     
  • If you do not wish to endorse, the Treasurer may prohibit you from participating in that year’s tax lien sale.
     
  • If the property in is bankruptcy, lienholder endorsements on subsequent taxes are not permitted.
     

TREASURER’S DEED

  • The majority of properties are redeemed.  You do not have ownership rights to the property, simply a property tax lien; this is an investment.
     
  • A Treasurer’s Deed may be applied for three (3) years after the date of the sale if the property remains unredeemed.  A deposit shall be required to cover expenses.
     

CERTIFICATE OF OWNERSHIP

  • If a mobile home is located on leased land, the tax lien holder is eligible to apply for a Certificate of Ownership one year after the date of sale.
     
  • If a mobile home is located on land owned by the same owner as the mobile home, the tax lien holder is eligible to apply for a Certificate of Ownership three (3) years after the date of sale.
     

SUMMARY OF DATES AND IMPORTANT INFORMATION

 

  Bidder Accounts
  Allow foreign bidder registrations No
  Single Simultaneous Bidding Policy No
  Allow sub-accounts No
 
  Auction Information
  Bidding style Proxy Bid Auction
 
  Auction Dates and Times
  Registration begins (site opens)**   08/09/2017 at 10:00 AM MT  
  Deposits or budgets begin    09/06/2017 at 10:00 AM MT  
  Bidding begins    10/18/2017 at 10:00 AM MT  
 
  ACH Deposits end   11/03/2017 at 4:00 PM MT  
  In-Person Deposits end   11/06/2017 at 4:30 PM MT  
  Registration ends   11/03/2017 at 4:00 PM MT  
   
  First batch closes   11/08/2017 at 9:00 AM MT  
  Batch closing interval   60 Minutes  
  Last batch closes (auction ends)   11/08/2017 at 2:00 PM MT  
   
  Payment due date   11/09/2017 at 3:00 PM MT  
 
  Budget, Deposit and Payment Information  
  Deposit required (% of estimated winnings)   10%
   
   
  Deposit / Payment types acceptable: Deposits Payments
      Budget  No ---
      ACH  No Yes
      ACH auto-debit final payment  --- No
      Wire transfers No No
      Counter payments Yes Yes
 
  Redemptions available via ACH Yes
 
  Public Access
  Public computer access NA
 
  ** Subject to change. The site will open when approved by the county.  

 

For an explanation of any of the terms above, please visit the FAQs.

 

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