The tax lien sale is held in the Kiowa County Courthouse in November. The sale is conducted on site as an open auction to the highest bidder.
The Treasurer's Office wishes to make it very clear that all sales are made with a "buyer beware" warning. Those investing in tax liens do so at their own risk and are advised to exercise due diligence in carefully analyzing which tax liens to bid on. While we make every effort to remove property with bankruptcies, FDIC or RTC connections, we cannot guarantee a property to be buildable or desirable.
To facilitate the bidding process, each tax lien is initially offered in item number order, for the amount of the taxes, interest and fees. The tax lien is sold to the bidder who pays the largest amount. No bids of less than $1.00 increments will be accepted. Premium bids are bids in excess of the taxes, interest and fees. All premium bids made are the investor's expense and will not earn interest nor be paid back to the buyer if the property is redeemed.
The Colorado State Banking Commission sets the rate in September for the tax sale. The interest rate is 12%. Interest is accrued monthly and is paid at the time the certificate is redeemed. The certificate holder can apply for a deed three years after the date of sale if the owner has not redeemed the certificate. Deposits for beginning the deed process range from $110.00 to $300.00 depending on the valuation of the land ($110.00 under $500.00 and $300.00 over $500.00.)
Any parcel not bid on during the sale will be struck off to the County. No telephone, fax, or mail bids are accepted. County certificates can be assigned to individuals for a $4.00 assignment fee. The County held certificates are posted in our office and the community bulletin board in the Courthouse. We also post it on our website.
Registration will be open for the buyers the day of sale up until sale time. We are required to have a W-9 form on file for each buyer before the sale starts.
Our office keeps the original Tax Lien Sale Certificates on file. This is a benefit to the investors for several reasons. In the case of redemptions, it expedites getting your money back to you. Also, at endorsement time in August, all you have to do is send in your check along with the proper paperwork.
The delinquent taxes are advertised in the Kiowa County Independent and the Kiowa County Press in October, and they are posted on our website. If you would like a copy of the publication, please send a written request to Kiowa County Treasurer, PO Box 247, Eads, CO 81036-0247 or send us an e-mail at email@example.com to request a copy.
Bid-Rigging Alert on Foreclosure Sales
It is illegal for any person to contract, combine or conspire with any person to rig any bid or any aspect of the bidding process, in any way related to the provision of any commodity or service. CRS 6-4-106.
This includes but is not limited to:
- Arranging with others to take turns bidding
- Agreeing to not bid
- Asking someone to not bid
- Suppressing bidding in any way
- Agreeing to withdraw bids after the sale is closed
- Attempts to collude to influence the outcome of the foreclosure sale
There are civil and criminal penalties for such activities including 1-3 years imprisonment, 2 years of parole and up to $250,000 in fines and we will prosecute.
If anyone approaches you at any time, and attempts to discuss any of these tactics, notify one of our staff members immediately!!!