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2016 Tax Lien Sale

CLEAR CREEK COUNTY TREASURER RULES AND INFORMATION

ANNUAL INTERNET TAX LIEN SALE

                                                                    www.zeusauction.com                     

OCTOBER 12, 2016 – AUCTION SITE OPENS FOR REGISTRATION AND RESEARCH

REGISTRATION CLOSES AT 5:00 PM MST THURSDAY, NOVEMBER 3, 2016

NOVEMBER 4, 2016 – BIDDING OPENS AT 8:00 AM MST

NOVEMBER 7, 2016 – AUCTION CLOSES AT 5:00 PM MST

AUCTION FORMAT

  • The tax lien sale will be an Internet auction administered by SRI Inc.  Properties available for bid will be listed on the SRI website www.zeusauction.com beginning on or about October 12, 2016.
  • Bidding OPENS November 4, 2016 at 8:00 AM MST and will CLOSE on November 7, 2016 at 5:00 PM MST.
  • Tax payments will not be accepted during the Tax Lien Sale.
  • Questions regarding the operation of the auction should be addressed to SRI at 1-800-800-9588.

SALE

  • The Clear Creek County Tax Lien Sale will be held via the Internet starting November 4, 2016 and ending November 7, 2016 at www.zeusauction.com
  • A demo site is available now at www.zeusauction.com.  Questions or help at 1-800-800-9588
  • The Delinquent Tax List will be published weekly for (3) three consecutive weeks beginning in September in the Clear Creek Courant newspaper, no deletions will be made.
  • Beginning the week of October 10, 2016 this list will be available on the Clear Creek County website at www.co.clear-creek.co.us. and will be updated periodically.
  • Liens not sold are struck off to the County and are available for purchase through the Treasurer’s Office after December 1st.
  • At the County Treasurer’s discretion, the method of sale may change.

REGISTRATION

  • The internet auction website will open for registration and research on or about October 12, 2016 through November 3, 2016 at 5:00 p.m
    • The login info you may have used last year should still be valid, but the confidential info such as W-9 and Bank info will need to be entered again as that is not retained by SRI.
  • No deposit is required at the time of registration.
  • Each bidder will be required to register online with www.zeusauction.com to participate.  Bidders are responsible to assure their information is correct as IRS W-9 forms, tax lien certificates, redemptions and refunds are prepared from this information.
  • Only bidders with a US Tax Payer ID are allowed to participate.

BIDDING

  • Employees and officials of Clear Creek County, members of their immediate families or their agents may not acquire a tax lien at the Clear Creek County Tax Lien Sale. CRS 39-11-151.
  • Bidding begins November 4, 2016 at 8:00 AM MST. Bidding will continue up until the closing hour on the last day of the tax lien sale on November 7, 2016 at 5:00 PM MST.
  • Bidding will begin at the amount of taxes, interest, advertising and fees due at the time of sale.  Any bid in excess of this amount is called a Bonus or Premium Bid.
  • The BONUS IS NOT RETURNED IF THE PROPERTY IS REDEEMED, nor do you receive interest on the bonus amount.  The person paying the highest amount is issued a Tax Lien Certificate of Purchase, which is a lien on the property.  YOU ARE NOT BUYING THE LAND!  This is merely a lien against the property.  It must be understood that the sale and purchase of a tax lien does not, convey the right of possession, use, improvement or access to said property.

TERMS

  • BUYER BEWARE TAX SALE – It is the bidders’ responsibility to research the property on which they are bidding.  At the close of the auction, all successful bids are final.  No changes in, or cancellation of, liens purchased can be made after the lien is sold.  
  • Research at www.co.clear-creek.co.us
  • When the auction ends, SRI, Inc. will notify the high-bidders by email. Auction results are also available for anyone to examine for a minimum of five (5) days after closing. If the high bidder fails to pay according to the terms for each sale, the high bidder will lose their right to the item purchased and will be barred from bidding on this site in all future auctions.
  • Payment for all winning bids will be made by ACH from the bidder’s account that was used in the registration process. This is the only form of payment accepted.
  • The bidder is responsible for ensuring that there are sufficient funds in the account that was used in the registration process.
  • The transfer will be initiated after 12:00 midnight on November 08, 2016 (12:00 am Mountain Time) or as soon thereafter as it is practical to do so.
  • Non Payments or payments that are rejected due to lack of funds or other reasons may result in cancellation of the corresponding bid(s) subject to CRS 39-11-116

INTEREST
When redeemed, the certificate will pay nine points over the Federal Reserve Discount Rate as September 1st on the year of the tax sale, CRS 39-12-103.
Tax Lien Interest Rate for the 2016 auction will be:  10%

  • If a property is wrongfully sold, the interest paid to the purchaser shall be two points above the Discount Rate but no lower than 8%.  CRS 39-12-111.

TAX LIEN

  • You do not have ownership rights to the property, simply a property tax lien.  YOU ARE NOT BUYING THE LAND!  This is merely a lien against the property.  It must be understood that the sale and purchase of a tax lien does not, convey the right of possession, use, improvement or access to said property.
  • A lien is valid for 15 years from the original issue date.  After 15 years, the lien is cancelled.  CRS 39-11-148
  • If you wish to transfer a Tax Lien Certificate, this can be done by a notarized affidavit or by completing the Assignment on the front of the Certificate.  The Treasurer’s Office must be notified when a Certificate is assigned so that we know where to send payment when the Certificate is redeemed.
  • Please remember to keep us informed of your current mailing address.

SUBSEQUENT TAXES

  • If the owner does not pay subsequent taxes before August 1st each year you will be given the opportunity to pay them.  The Endorsement Eligibility Statement will be mailed to you as soon as possible after August 1st each year.  Your payment will be endorsed onto your lien and will accrue interest at the same rate as your original certificate.
  • If there are multiple lien holders on a parcel from previous years, the current year tax payment is applied on a first received basis.  The property owner may also pay the current year prior to the subsequent taxes being received from the investor.
  • If the property is in bankruptcy, subsequent taxes cannot be endorsed.

REDEMPTION

  • When the lien is redeemed, the Treasurer’s Office will process the redemption and mail a check to the investor.
  • Tax Lien Redemptions generated by the current Tax Lien Sale will not be processed until after November 10, 2016.

TREASURER’S DEED

  • A Treasurer’s Deed may be applied for three years after the date of the sale if the property remains unredeemed.

        A deposit, which currently is $650.00, is required to cover the deed processing fees plus a completed         deed application form which is available on the Treasurer’s website.  CRS 39-11-120.

  • REMEMBER, your Tax Lien Sale Certificates of Purchase are important documents.  We will keep the original Tax Certificates in our office and we will provide a copy of each to the lienholder.