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Foreclosure Sale Instructions
Courtesy
- Silence or turn off your cellphones. Before taking any call, step outside the office.
- Wait until the door is closed before speaking
- If you need to discuss something with another person present at the auction, step outside of the office, and wait until the door is closed before speaking.
- Once the sale has started, no questions will be answered
- Allow those actively bidding to stand closest to the counter.
Bidding
- All bidders must be registered before the sale opens.
- Bids must be in even dollar amounts.
- The initial bid can be as low as $1.00 above the rounded up opening bid from the lender. Example: The lender opening bid is $4.10. The initial bid must be at least $6.00. The initial bid amount will be announced, and an acceptance solicited.
- After the initial bid, the second bid minimum must be rounded up to the nearest $100.00.
- Subsequent bids must be in even hundred dollar increments minimum.
- Each accepted bid will be recorded.
- Bidding will proceed in an orderly manner.
- Any properties not sold will be struck back to the lender.
Payment
- Payment in the form of cash or certified funds is due immediately at the close of the auction. If payment is not made, the next lower accepted bid will be the successful bid.
- If the payment is more than the final bid, the overage will be refunded within 24
business hours.
Colorado Revised Statutes
Offenses Against Public Peace, Order, and Decency:
18-8-102. Obstructing government operations.
18-8-306. Attempt to influence a public servant.
18-9-108. Disrupting lawful assembly.
18-9-110. Public buildings – trespass, interference – penalty.
Colorado Antitrust Act of 1992
(as applies to activities such as bid-rigging)
6-4-111. Enforcement by the attorney general.
6-4-112. Civil penalties. If civil, triple actual damages or up to $250,000.
6-4-117. Enforcement – criminal proceedings. Class 5 felony.
6-4-121. Void contracts – refund. Contract made via bid-rigging is void.