By participating in a Treasurer's Auction Sale, you will need to agree to the following rules before proceeding to the auction site. This site is NOT for Foreclosures or Tax Lien Sales.
As a Bidder, you are subject to the applicable state statutes on the treasurer's deeds and treasurer deed sales as set forth in 39-11.5-101 et seq. of the Colorado Revised Statutes. Section 39-11.5-107 C.R.S., establishes the right of the Treasurer to utilize electronic means to conduct a tax sale and to require the Bidder to participate in bidding and other sale procedures through such electronic means.
It also recognizes the authority of the Treasurer to establish uniformly written policies for conducting treasurer deed sales. This publication is one of those written policies directed at treasurer auction sales. Your compliance as a bidder, to the policies set forth below, is a condition to your right to participate in bidding at a treasurer sale conducted by or on behalf of the Treasurer.
The Weld County Treasurer has contracted with Realauction.com to provide a website, services, applications and tools (collectively "Services") for a bidder to be able to bid at a treasurer deed sale or a certificate of ownership sale held by the Treasurer. The User Agreement posted on the Realauction.com website sets out the terms by which Realauction.com offers Bidders access to, and use of the on-line auction capability for treasurer deed and certificate of ownership sales. This User Agreement governs the relationship between the Bidder and Realauction.com LLC, concerning the electronic process and requirements for participating in on-line treasurer deed sales, held by the Weld County Treasurer. Before using Realauction.com's website to access a sale information or to engage in bidding on properties, Bidder must agree to be legally bound by the terms and conditions of Realauction.com's User Agreement.
Any difficulties or concerns a Bidder may have with the Services offered by Realauciton.com should be directed to Realauction.com at customerservice@realauction.com.
Under section 39-11.5-107 C.R.S., Weld County and the Treasurer, acting in their official capacities in preparing, conducting and executing a treasurer deed sale by electronic means are not liable for the failure of a "device" that prevents a Bidder from participating in a sale. A "device" includes computer hardware, computer network, computer software applications or a website. This includes all services offered by Realauction.com.
Rules for Bidders Participating in the Electronic Auction for Treasurer Deed Sales:
ID and Information
A Bidder must be identified by name and other information required by Realauction.com, including, but not limited to, driver's license number, state ID, tax identification information or email addresses. A User ID and password will be provided by RealAuction.com. Only the Bidder or the Bidder's authorized employees and agents may use this User ID or password when bidding at a treasurer sale. The identity may not be transferred to or used by any third party. Bidder must notify Realauction.com immediately in the event of theft or unauthorized use of User ID and or password.
Unauthorized Bidders
Per Colorado Revised Statute, 39-11.5-108 (3)(b) The Treasurer shall not accept bids made by a county official or a county employee acting in their individual capacity or by an immediate family member of a county official or a county employee.
Competency/Authority
Bidder and Bidder's authorized employees or agents must be of legal age to enter binding contracts. Any authorized employee or agent must be legally authorized to act on behalf of Bidder. Failure to comply with these requirements will result in immediate disqualification of Bidder at a treasurer sale.
Truthfulness
All information provided or representations made by Bidder to the Treasurer must be truthful, accurate and complete to the best of their knowledge. Any material misinformation or misrepresentation will result in the immediate disqualification of Bidder at a treasurer sale.
Manipulation
Bidder must not engage in activities that result in a manipulation of the treasurer's sale adverse to the public interest. Such manipulation would include but not limited to: bid-rigging, intimidation, computer hacking or other misuse of the Services provided by Realauction.com and actions intended to adversely influence the decision of a public official. Any manipulation will result in the immediate disqualification of Bidder at a treasurer sale and, if the manipulation is criminal, in the possible referral of the matter to the Twenty First Judicial District Attorney's Office.
Deposit of Funds
As a condition to the right to bid at the treasurer's sale, Bidder shall deposit with the Treasurer, an amount equal to or greater than 10 percent of the Bidder's anticipated high bid on each property on which the Bidder intends to bid. The deposit shall be made by wire transfer only, payable to RealAuction. For funds to be available for the auction, all wires must be received by 4 p.m. (Mountain Time), the day prior to the auction.
Canceling a Bid
Lowering or canceling a bid must be done prior to the official start of the treasurer's sale. Once a sale officially commences, no bid retractions will be accepted.
Sale Procedure
All procedures, protocols and requirements for conducting a sale shall be determined by the Treasurer. Bidder shall have no right to direct or control such procedures, protocols and requirements.
Payment for Purchase
All purchases must be completed via the Realauction.com website using the bidder's available funds. If a remaining balance is due, (an amount beyond the amount of the deposited funds described above), all final payments must be delivered to Real Auction by wire transfer in a timely manner to allow for the receipt of funds, and the update of the bidder's account balance to complete the purchase by 2 p.m. (Mountain Time) the day of the sale. All funds must be drawn from a US Financial institution and no foreign currency is accepted.
Failure to complete a purchase
Failure to pay the balance of the winning bid or complete the purchase by 2:00 p.m. (Mountain Time) the day of the sale, will result in a forfeited bid. The 10 percent deposit used to participate in the auction will be removed from the bidder's available balance and held in a Treasurer's non-interest- bearing account for 30 business days or longer, at the discretion of the Office of the Treasurer. At that time, the funds will be released back to the Bidder's Realauction account. If the first bidder fails to complete the transaction, an email will be sent to the second highest bidder. The second highest bidder will have the opportunity to purchase the property for their last highest bid amount. The second highest bidder has until 2:00 p.m. (Mountain Time) the next business day following the auction, to submit the required funds. In the event that neither the first nor the second highest bidder purchases the property, the property will go back to the tax lien holder for the bid at auction.
Fund Transfers and Handling
All procedures, protocols and requirements regarding the appropriateness and completeness of fund transfers and the handling of funds received shall be determined solely, by the Treasurer. Bidder shall have no right to direct or control such procedures, protocols and requirements. It is the responsibility of the successful bidder to notify the Treasurer, in writing, the complete and accurate name of the entity or person to which or whom Bidder wishes the Certificate of Option for Treasurer's Deed, Treasurer's Deed or Certificate of Ownership to be issued.