Foreclosures
THE PROPERTIES THAT APPEAR ON THE WEEKLY SALE/AUCTION LIST OF THE PUBLIC TRUSTEE'S OFFICE ARE TIMELY AND VALID ONLY AS OF THE DATE AND TIME THEY ARE POSTED. HOWEVER, CHANGES IN THE SALE/AUCTION LIST CAN OCCUR ANY TIME PRIOR TO THE ACCEPTANCE OF THE FINAL BID AT A SPECIFIC PROPERTY ON THE LIST. CONTINUANCES OF SALES MAY BE MADE UP TO THE TIME OF SALE AND THE "POST SALE LIST" CAN CHANGE IF A SALE IS RESCINDED AFTER THE SALE DATE ACCORDING TO LAW.
IMPORTANT: Although every reasonable effort has been made to ensure the accuracy of the public information data, Gunnison County cannot be responsible for consequences resulting from any omissions or errors contained herein. Gunnison County assumes no liability whatsoever associated with the use or misuse of this data. You should conduct your own due diligence.
Gunnison County Public Trustee Active Foreclosure Details
Gunnison County Pre Sale List
Gunnison County Pre Sale Continuance List
Gunnison County Post Sale List
How to Bid at the Public Trustee Foreclosure Sale
PREPARE IN ADVANCE: It is your responsibility to do research before coming to the sale to bid on a property. The Public Trustee cannot and does not guaranty that the deed of trust being foreclosed is a first lien – it could be a second or third lien. The Public Trustee does not know if the property taxes or assessments have been paid or if there are any other liens against the property. If you do not know how to check the “condition of title” or the “chain of title” to the property, you may wish to hire someone to do the research for you.
You can obtain the foreclosure case number for the property by looking it up at the Public Trustee’s office.
The Public Trustee does NOT know the physical condition of any of the properties. You would be wise to drive by any property of interest to you to see what it looks like. You cannot gain access to the inside of the property unless you are granted specific permission by the owner.
On Monday afternoons, we post in our office a “preliminary” Pre Sale List. The Monday list is NOT complete and is subject to change. On Tuesday, the day before sale, we will have posted in our office by approximately 4:00 p.m. a more finalized listing of properties scheduled to go to sale the next day (Wednesday). That listing is also available for inspection in the Public Trustee’s office at 10:00 a.m. on Wednesday morning. The Pre-Sale List shows the foreclosure number, the borrower(s) name, the legal description and street address of the property, the current lender’s name, the publication dates and newspaper, along with the amount of the lender’s written bid and any deficiency. The lender’s written bid is required to be provided, in writing, to the Public Trustee prior to the posting of the Pre-Sale List. The bids are public information and you may purchase a copy of the written bid from the Public Trustee’s office. BE ADVISED: The lender or its attorney, or the Public Trustee, may pull or continue a property from the sale list at any time up until the sale begins Wednesday morning. Some of the reasons for a property to be pulled or continued are that a bankruptcy was filed by the owner/borrower, or the lender has asked for a continuance of the sale. Bids received from the lenders may be amended at the time of sale so long as the lender’s representative is personally present at sale and re-executes the amended written bid.
CHECK IN ON SALE DAY: The Gunnison County Public Trustee holds foreclosure sales on Wednesday’s promptly at 10:00 a.m. – unless the Tuesday before sale or the Wednesday sale date is a holiday. Sales are held at 221 N. Wisconsin Street, Suite T, in Gunnison Colorado. If you intend to bid on a property, you should arrive at the office about 15 to 20 minutes early because you need to complete a “check-in” form with your name, address, etc. Completion of the form does not obligate you to bid, but a form needs to be completed for EACH of the properties on which you may bid. The form must be completed before the sale begins or you will not be able to bid at that day’s sale.
If you are appearing at the sale to bid on behalf of someone other than yourself or another entity that you do not own or control, you need to have written authorization allowing you to bid on behalf of that person or entity. When you enter bids on behalf of someone else, you MUST verbally state that your bid is being entered on behalf of that other person or entity at the time the bid is made. That is required because the Public Trustee will strike and sell the property to the successful bidder after bidding has ceased and funds have been provided. Therefore, the Public Trustee must know the name of the person or entity to which the property is being sold. You will also be REQUIRED to have sufficient funds with you to bid on the property. The Public Trustee’s office cannot, by law, accept personal checks – payment of successful bid amounts MUST BE MADE at the time that a successful bidder is declared by the Public Trustee and must be in the form of a cashier’s check, certified check, official bank or official teller’s check or wire transfer. Checks MUST be payable ONLY to the “Gunnison County Public Trustee”. We cannot accept checks made payable to you or another third party that are endorsed for payment to the Public Trustee. It is preferred that you have separate checks for each of the properties on which you may bid. If you are doing a wire transfer, the funds MUST be deposited and in the Public Trustee’s bank account by Noon the day of sale. If your wire transfer or check is for more than your successful bid, a refund check will be issued to you in approximately 3 to 5 business days once the Public Trustee is assured that good and sufficient funds are collected in the Trustee’s bank account.
If you wish to bid, but cannot be present at the time of sale, your representative must provide a document authorizing him/her to represent you or your company to bid on your behalf. Bids made by your representative MUST be verbally made in the name of the person or entity actually purchasing the property. Bidding at the sale proceeds in increments of $1.00 – if the lender has submitted a bid for $150,000.00, for example, you must bid at least $150,001.00 in order to be the successful bidder. If another person/entity is bidding on the same property, bidding will proceed (and may be in increments larger than $1.00) until one of the bidders indicates he/she will not bid any higher. If you are the successful bidder at sale, you must provide the necessary funds to the Public Trustee by noon the day of the sale. The Certificate of Purchase (CP) issued by the Public Trustee will be issued in the name and address of the successful bidder as struck and sold at the conclusion of bidding and as shown on your check-in sheet – please be sure it is accurate and legible.
Pursuant to laws in effect on 1/1/08 for cases started after that date, the successful bidder will NOT get an original Certificate of Purchase at the time of sale. Successful bidders will be provided with a Receipt from the Public Trustee after the sale is completed. A Certificate of Purchase will be issued and RECORDED by the Public Trustee’s office and retained in our office records. A Certificate of Purchase is assignable pursuant to 38-38-403 C.R.S. but the Certificate of Purchase cannot be assigned prior to the time it is issued and recorded by the Public Trustee.
As the grantee named in the Certificate of Purchase, you do NOT HAVE IMMEDIATE RIGHT OF ACCESS TO THE PROPERTY. A Certificate of Purchase does not transfer title to you, it merely evidences your investment made at the time of sale. For 2008 cases, there is no longer an owner redemption period after the date of sale; however, junior lienors and others with redemption rights will have 8 business days after date of sale within which to file a Notice of Intent to Redeem with the Public Trustee. If such a Notice is filed we will notify you and you (as the CP holder) will have only 5 business days (or no later than 13 business days following date of sale) to provide a redemption statement (redemption figures) to this office for transmission to the potential redeeming party. Your statement of redemption must comply with 38-38-302 C.R.S.
If the property is redeemed, you will be paid the amount of your bid, accrued interest (at the rate of interest stated in the Deed of Trust and Note being foreclosed) plus reasonable costs and fees (receipts must be supplied) as provided in 38-38-107 C.R.S. and as included in your redemption statement. Thereafter, upon written request and payment of the required fees, the Public Trustee’s office will issue a Confirmation Deed to convey title to the last redeeming party.
If no Notice of Intent to Redeem is filed and no redemption is made by anyone, you must request, in writing, that our office issue your Confirmation Deed. You must pay a $30.00 fee for issuance of the Deed PLUS recording costs. No less than 15 business days after the date of sale or, if later, the expiration of all redemption periods and upon receipt of all statutory fees and costs, the Confirmation Deed shall be issued by the Public Trustee and recorded with the Clerk & Recorder’s office. If you are the grantee of that Deed, you will then have ownership of the property.
The Public Trustee’s office does NOT provide legal advice and we do not do any eviction proceedings. Once the Confirmation Deed is issued by this office and recorded, the Public Trustee’s file is closed.
The above information is provided only as an informational tool and is not intended to serve as legal advice. You should consult with an attorney of your choice regarding your legal rights and obligations as a bidder at the foreclosure sale or as a Certificate of Purchase holder.
Gunnison County Public Trustee Policy on Redeeming HOA Liens
A Homeowners’ Association (HOA), or its assignee, has the right to redeem in the most-senior junior position to the first Deed of Trust if all of the following are true:
A) The first Deed of Trust was recorded after the Declaration of Covenants for the HOA.
B) Either the DoT or the Declaration of Covenants was recorded after 6/30/1992.
C) There is a positive balance remaining after doing the following:
i) Take the amount of unpaid assessments, with interest, due through the end of the first redemption period.
ii) Subtract an amount equal to the assessments due (paid or unpaid) in the six months immediately prior to the recording of the NED.
In order to meet the requirement of C.R.S. 38-38-302(1.f) with respect to “setting forth the amount required to redeem,” the Gunnison County Public Trustee requires all of the following to be submitted with any intent to redeem on an HOA assessment:
1) A copy of the first page of the recorded Declaration of Covenants, along with the pages providing for assessments to be levied.
2) A notarized affidavit signed by an officer of the HOA that does the following:
a) Links the recorded Declaration of Covenants to the specific Deed of Trust,
b) Provides the amount of unpaid assessments, with interest, due through the end of the first redemption period,
c) Sets forth the amount of assessments due in the six months immediately prior to the recording of the NED, and
d) Optionally, subtracts “c” from “b” to produce the amount required to redeem.
3) A recorded assignment of lien, if applicable.
Once we have those documents, and have verified that there is a positive balance remaining after subtracting the value of the super-priority lien, we can accept the Intent to Redeem, with a lien amount equal to the balance in C above. None of these documents need to be recorded other than the original Declaration of Covenants, and any assignment – the specific lien is automatically valid. The HOA lien is always in first position behind the first Deed of Trust, and is senior to any other Deeds of Trust.
Release of Deed of Trust (Forms and Instructions
Click here for forms and instructions.
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RELEASE FEES: 38-37-104(1)(a) |
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For executing a Release of Deed of Trust*
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$15.00 |
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FORECLOSURE DEPOSIT: 38-38-101(10) |
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To be applied to Fees and Costs
or the amount of the fee permitted pursuant to 38-37-104(1)(b)(I), whichever is greater.
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Up to $650.00 |
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FORECLOSURE FEES: 38-37-104(1)(b) |
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(I) Opening and Administering a Foreclosure |
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For original principal balance under $480,000.00 |
$150.00 |
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For original principal balance over $480,000.00 of the original principal amount or outstanding balance, whichever is less, but no less than $150.00 |
1/32 of 1% |
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(II) Accepting the filing of an Intent to Redeem (per notice) |
$50.00 |
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(III) Processing and Executing a Certificate of Redemption* |
$30.00 |
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(IV) Executing a Confirmation Deed* |
$30.00 |
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(V) Processing a Withdrawal* |
$35.00 |
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(VI) Processing an Administrative Withdrawal* |
$50.00 |
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(VII) Recommencing Sale when Held in Violation of Automatic Stay |
$50.00 |
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(VIII) Recommencing Sale after Bankruptcy where Publication was not Completed |
$75.00 |
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(IX) Performing Actions Caused by a Partial Release as Described in 38-38-101(9) |
$100.00 |
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(X) The Sum of all Amounts paid by the Public Trustee to Third Parties in Connection with Processing a Foreclosure |
Various |
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(XI) Processing a Rescission of Sale pursuant to 38-38-113 |
$100.00 |
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(XII) Rescheduling a Sale after a Rescission of Sale pursuant to 38-38-113(4)
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$50.00 |
| OTHER FEES: |
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38-37-104(1)(c): |
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Convey and dispose of property of a dissolved for profit or nonprofit corporation after death of the last surviving director as described in §38-30-171(3)(b) and §38-30-173(3)(b) |
$25.00 |
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Serve as Trustee of an unexecuted express trust after the death of the surviving trustee as described in §38-34-104 |
$25.00 |
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38-37-104(1)(d): |
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Serve as Escrow Agent for Contract for Deed as described in §38-35-126(1), Annually for each Taxable Year 38-38-704: |
$75.00 |
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38-38-101(1)(h): |
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Fee for restarting a foreclosure if the document notifying the Public Trustee that the
property referred to in the notice of election and demand is property that requires posting under section 38-38-802 is not filed at the time the documents required for commencing a foreclosure
are filed with the Public Trustee, and the holder determines at a later date that the property
requires posting (Repealed 6/30/2011) |
$75.00 |
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38-38-109(2)(d): The fees prescribed in section 38-37-104 (1) (b) (VII) and (1) (b) (VIII) |
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Recommencing sale after being enjoined by court order where publication was not completed |
$75.00 |
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Recommencing a sale after being set aside by court order |
$50.00 |
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38-38-704: |
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The Fees and Costs for Providing Educational or other Information or Material to the Property Owner or any Person Liable on the Debt, not to Exceed |
$25.00 |
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38-38-803: |
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Fee for recommencing a foreclosure after a foreclosure deferment has be terminated
or ended (Repealed 6/30/2011)
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$75.00 |
*General Recording Documents (8-1/2 x 11 & 8-1/2 x 14): $11.00 for the first page & $5.00 per each additional page, plus $1.00 surcharge per document are applicable, pursuant to §30-1-103 and §30-10-421.
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| FORM OF PAYMENTS TO THE PUBLIC TRUSTEE |
C.R.S. 38-37-108: All moneys payable to a public trustee at any foreclosure sale under the provisions of this article or upon redemption or cure pursuant to article 38 of this title shall be in the form of cash, electronic transfer to an account of the public trustee available for such purpose or a certified check, cashier's check, or teller's check, or draft denominated as an official check that is a teller's check or a cashier's check as those terms are defined in and governed by the "Uniform Commercial Code", title 4, C.R.S., made payable to the public trustee and certified or issued by a state-charted bank, savings and loan association, or credit union licensed to do business in the state of Colorado or a federally chartered bank, savings bank, or credit union.
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| SPECIAL NOTICE |
C.R.S. 30-1-108: All officers of this state who are required to collect fees for their services are required to make fair tables of their respective fees, and keep the same posted in their respective offices in some conspicuous place for the inspection of all persons who have business in said office; and, if any such officer neglects to keep a table of fees posted in his office, such officer, for each day of such neglect, shall forfeit and pay the sum of five dollars, to be recovered by action at law before the county court for the use of the county in which the offense has been committed.
C.R.S. 30-1-116(1): Every officer shall collect every fee, as prescribed, for services performed by him in advance, if the same can be ascertained, and when any officer negligently or willfully fails to collect any such fee, the same shall be charged against his salary. |
Contact
Deputy Public Trustee
Teresa Brown
970-641-2231
Email Teresa
Office Hours
8:00 a.m. - 5:00 p.m.
Monday through Friday (except holidays)
Contact Information
Gunnison County Treasurer/Trustee
221 N. Wisconsin, Suite T
Gunnison, CO 81230
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Phone: (970)641-2231
(voicemail is available 24 hours/day)
Fax: (970) 641-7955
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