The following pertains to Eagle County’s Tax Sale only
Online Tax Lien Sale - November 3, 2016
The Eagle County tax lien sale will be held November 3, 2016 on the internet at https://eagle.coloradotaxsale.com. The sale will be administered by Realauction, and is conducted with the goal of fairness and efficiency. Questions regarding the online sale should be directed to Realauction at 877-361-7325 or emailed to firstname.lastname@example.org. Any questions regarding the tax sale process or the property taxes being sold should be directed to the Eagle County Treasurer's Office at 970-328-8860.
All tax liens on mobile homes and real property are sold at the online auction with a premium bid, those premium bids are not paid back to the investor, nor do they earn redemption interest. The interest rate for the 2016 online tax lien sale has been set at 10% per year. Successful bidders at the online sale pay the total advertised price (which includes the delinquent tax, interest, advertising fee and a $16 certificate fee), as well as a premium bid.
A preliminary list of the tax liens available for sale will be posted on October 1, 2016 at https://eagle.coloradotaxsale.com, and will be updated routinely through the morning of the tax lien sale.
Registration: October 1 - November 3, 2016
All potential bidders must register before the sale date, which is the official start of the sale (registration opens October 1, 2016). Registration will include the completion of an IRS required W-9 form, as well as acceptance of a User Agreement. To begin bidding you will be required to make a deposit of at least 10% of what you plan to spend at the tax lien sale. Deposits and final payments can be made by ACH (electronic check). We encourage you to register as soon as the delinquent property list is available, so you have time to do research and make a determination of your bid.
Internet training sessions:
Realauction will provide several webinar training sessions to introduce investors to our online tax lien sale. The webinars will give step-by-step instructions about participating in the tax lien sale online.
Please join us online on one of the following dates:
Wednesday, October 19, 2016 - 4 pm MST
Friday, October 28, 2016 - 10 am MST
Thursday, November 3, 2016 - 8 am MST
To register, please call Realauction at 1-877-361-7325. You must register with Realauction to attend the webinar.
Tax Lien Sale Certificates of Purchase
Following the tax lien sale, successful bidders will receive a copy of the tax lien certificate of purchase for each property. All original certificates are held in safekeeping by the Eagle County Treasurer's Office.
The tax lien sale Certificate of Purchase is only a lien on the property, and does not change ownership of the property. The Certificate of Purchase is valid for 15 years from the date of the sale. Interest is earned at the rate stated on the certificate with portions of calendar months considered as whole months. Premiums do not earn interest.
Assignment of Certificates of Purchase After obtaining a certificate of purchase at the tax sale, if you wish to assign it to a different investor, you can do so by completing the attached assignment form and submitting it to the Treasurer's Office. If the assigment is done by mail, fax or email the assignment form must be notarized. Please note that if the person you are assigning your certificate(s) to is not already an investor with Eagle County, they will need to complete a W-9 form and submit it along with the assignment form.
Subsequent Year's Taxes After August 1 of each year, all tax lien sale certificate holders have first option to purchase any subsequent year’s taxes that remain unpaid. These tax liens will be endorsed onto the original certificate at the same rate of return.
The redemption period is three years from the year of the original tax sale. Certificates sold in 2016 for the 2015 property taxes are eligible for application of a Treasurer's Deed in 2019. It is not required that three consecutive years of taxes be due, it is only required that the original lien remain unpaid three years after the date it was purchased at tax sale. There is a $300 deposit required to start the Treasurer's Deed process, which is handled through the Treasurer's Office. If you are interested in applying for a Treasurer's Deed please review the application procedures and complete a Treasurer's Deed application.
There are different requirements for the redemption of certificates of purchase issued on Mobile Homes. If no redemption is made, a Certificate of Ownership is issued instead of a Treasurer's Deed, and on most mobile homes the investor can apply for the Certificate of Ownership after one year from the date of sale.
General Tax Sale Information - FAQ
What is a Tax Sale?
Each year unpaid taxes on real estate, mobile homes and special assessment properties are sold to investors who attend the sale at the time determined by the Treasurer. Investing in tax liens through purchase at the tax lien sale is just that, an investment. You purchase the tax lien, NOT the property. Very few deed transfers occur as a result of a tax lien sale.
Why is the Tax Sale Held?
Tax sales are established by state statute and held to enable the various authorities and county government to continue to operate though some taxes are unpaid.
When are Tax Sales Held?
The tax sale date is subject to state statute and is held after the delinquent tax listing is published in a local paper for three weeks.
Where is the Tax Sale Held?
Investors should check with individual counties for information on when and where their sales will be held.
Who can Become an Investor?
Any person who has monies to invest and is not an employee of the county or a relative of any county employee. Monies can be tied up for an indefinite period of time
Each year the Colorado Banking Commission determines the rate of return. The annual percentage rate is set at nine points above the federal discount rate for September 1 of that year.
Property Listing / Publication
A current property list will be available for real estate and special assessment parcels. Special assessment liens will be sold with corresponding real estate liens, if both are delinquent. The real estate parcels will be listed in the exact order of the sale and will include tax schedule number, owner’s name, legal description and the total amount due.
Element of Risk It is important to remember the element of risk involved in the purchase of tax liens. The purchase of tax sale liens of properties under the control of Federal Deposit Insurance Corporation (FDIC) and Resolution Trust Corporation (RTC) and those affected by the Drug Enforcement Administration (DEA) could possibly result in the loss of interest. Identifying any potential problems in this area is impossible for the Treasurer’s Office. Please conduct your own investigation to reduce the possibility of loss of interest to you.
Parcels are subject to federal, state and local government regulations including, but not limited to, land use and environmental regulations.