Prepare in Advance
The Public Trustee makes no representations, warranties or promises of any kind about the physical condition or status of title of property being foreclosed. It is your responsibility to do your own research before coming to the sale. The Public Trustee does not promise that the trust deed being foreclosed is a first lien. A Public Trustee Deed contains no warranty of title. The Public Trustee does not check whether taxes have been paid or if there are other liens against the property.
You can obtain the foreclosure sale number of the property by looking it up at the Public Trustee's office, in the Notice of Sale published in the newspaper or on this website.
Public Trustee foreclosure sales are held on Wednesdays, promptly at 10:00 a.m., in the offices of the El Paso County Public Trustee, 1675 Garden of the Gods Road Ste 2100, Colorado Springs, CO 80907 (except when Wednesday is a holiday). Prospective bidders should check in at the sale at approximately 9:45 a.m. to allow time for completion of a bidder information sheet.
Your bid must start at $50.00 over the bid from the foreclosing lender; full sale policies and procedures are posted under foreclosure reports.
If you are the highest bidder, funds must be tendered at the time of sale. Per statute (C.R.S. 38-37-108), all payments made for redemption, cure, or purchase at sale “shall be in the form of cash, electronic transfer to an account of the public trustee available for such purpose, or certified check, cashier’s check, 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-chartered 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.”
Some Important Facts
For foreclosures whose Notice of Election and Demand was recorded after January 1, 2008, the owner of the property at the time of sale has no further rights to the property. The property sold at a Public Trustee foreclosure sale can be redeemed by certain lien holders. If redemption occurs, the purchaser at sale will be paid the bid amount plus interest at the default rate specified in the evidence of debt secured by the deed of trust being foreclosed, plus certain other expenses described by Colorado Revised Statutes §38-38-301. Should there be no redemption, a Confirmation Deed for the property will be issued to the purchaser at sale upon request, the expiration of all redemption periods, and payment of the required fee and recording costs.