TREASURY DIVISION
CITY AND COUNTY OF DENVER
BIDDING RULES FOR THE TREASURER’S ANNUAL PUBLIC AUCTION OF REAL ESTATE TAX LIENS
FOR TAX YEAR 2008
LOCATION OF PUBLIC AUCTION
The Annual Public Auction will be conducted entirely by means of the internet at www.denvertaxsale.com.
DATE AND TIME OF PUBLIC AUCTION
Bidding will begin on November 3, 2009 at 8:00 a.m. M.S.T. and will close on November 6, 2009 at 5:00 p.m. M.S.T.
REGISTRATION/DEPOSITS
Buyers can register and make deposits beginning October 19, 2009 at www.denvertaxsale.com. Registration and deposits may be made until November 5, 2009 at 5:00 p.m. M.S.T. All deposits must be made in electronic funds transfer. Final determination regarding the acceptability of any deposit will be at the discretion of the Treasurer or his employees. Buyers are responsible to ensure the information on their registration is correct since certificates of purchase, redemption checks and refund checks are prepared from this information. Once registration is completed, a bidder number will be issued for bidding.
COMPUTER WORKSTATIONS
Access to computer workstations for bidding will be available in City and County of Denver, Treasury Division, 201 West Colfax Avenue, Wellington E Webb Municipal Office Building, Denver, Colorado between October 19, 2009 and November 10, 2009, between the hours of 8:00 a.m. M.D.T./M.S.T. and 5:00 p.m. M.D.T./M.S.T., Monday through Friday. Access will be on a first come first served basis.
UNPAID TAX LIST AND PUBLIC AUCTION
Publication of the unpaid tax list will be in alphabetical order by property owner name. The list will be published in The Denver Post on October 2, 9, and 16. Taxes will be auctioned in parcel identification number order. The list of the unpaid taxes, in parcel identification number order, will be posted (1) at www.denvertaxsale.com beginning October 19, 2009 and (2) in Taxpayer Service Section of the Treasury Division for several days before the public auction. Each parcel will be offered for the amount of taxes, advertising, penalty interest, and fees and will be subject to general bidding.
BIDDING
In accordance with §39-11-115 (2) (c) and (d), C.R.S., minimum bids and bid increase increments are as follows:
· Bids will be accepted in the amount of the minimum with the first bid.
· The next bid will be increased by one dollar.
The bidding rules as well as instructions on accessing the public auction and submitting bids will be posted at www.denvertaxsale.com on October 19, 2009.
For bidding purposes, properties will be grouped in batches and sold in one hour increments beginning at 8:00 a.m. M.S.T. on November 6, 2009, and ending at 5:00 p.m. M.S.T. Items in each batch will be identified with a closing time.
Payment transfers that are rejected for any reason, including the lack of funds, may result in cancellation of the corresponding bid(s) and the Treasurer may prohibit a person who fails to pay the amount due from bidding on sales for up to five years under §39-11-116, C.R.S.
It is the bidder’s responsibility to know what is purchased. All successful bids are final. No changes in or cancellation of parcels purchased can be made after bidding is closed.
The certificate of purchase issued on a successful bid will show the legal description, purchase amount, and buyer’s name (as entered on registration form), interest rate, and date of sale. Buyers will be notified when their certificates are ready to be picked up. The City and County of Denver will keep them if the buyer wishes and provide copies.
Redemption interest is 10% per annum. If parcels are redeemed prior to delivery of certificates, redemption checks will be mailed to buyers and notations made on buyers’ lists of purchases.
Employees and officials of the City and County of Denver and members of their families are not allowed to purchase at the Denver Tax Lien Public Auction.
PLEASE NOTE! Delinquent Real Estate Tax payments must be received in our office by 4:30 p.m. M.S.T., Monday, November 2, 2009. Payments will not be accepted after that time without redemption interest. Payments will not be permitted during the Annual Public Auction of Real Estate Tax Liens.
Any questions regarding the Annual Public Auction should be directed to the Treasury Division, Taxpayer Service Section, 201 West Colfax Avenue, Wellington E Webb Municipal Office Building, 1st floor, Denver Colorado 80202, (720) 865-7070.
STEVEN L ELLINGTON
Treasurer
TPS 021
9/09