Colorado § 39-11.5-107 - Bid required - form of bid.

§ 39-11.5-107. Bid required - form of bid.

(1) (a) A treasurer shall prepare, no later than seven calendar days prior to the scheduled auction date, a bid form for a lawful holder's approval. The bid form must be approved by a lawful holder and submitted to the treasurer no later than noon on the second business day prior to the scheduled public auction, as provided in this section, and must set forth all money due and owing to the lawful holder, including all treasurer fees and costs.

(b) If a lawful holder does not submit an approved bid form by the deadline specified in subsection (1)(a) of this section, a treasurer shall prepare and submit a bid form setting forth all money due and owing to the lawful holder, including all treasurer fees and costs.

(2) A lawful holder need not personally attend a public auction.

(3) A bid must specify the following amounts, itemized in substantially the following form:

BID

Treasurer of the county (or city and county) of_____________ , state of Colorado.

Date: _______________

Treasurer's deed number: _____________

Lawful holder/treasurer, whose mailing address is_______________________ , bids the sum of $____________ in your public auction to be held on the ____ day of__________ , 20__ .

Street address of property being sold, if applicable: ______________________

The following is an itemization of all amounts due the lawful holder of the tax lien.

Statutory rate of interest on tax lien as of the date of public auction: __________

(Inapplicable items may be omitted):

Amount due on tax lien $ ______________________

Interest $______________________

Endorsement(s) $ ______________________

Current years taxes $______________________

Category subtotal $ ______________________

Treasurer fees and costs:

Treasurer statutory fee $ ______________________

Treasurer software costs $___________________

Title commitments or abstractor costs $______________________

Mailings $______________________

Publication costs $ ______________________

Posting costs $ ______________________

Electronic auction costs $ ______________________

Certificate of option for a treasurer's deed recording cost $ ________________

Treasurer deed fee $ ______________________

Deed recording cost $ ______________________

Other (describe) $______________________

Category subtotal: $ ______________________

Bid $ ______________________ (Total due lawful holder)

Name of the lawful holder or attorney for the holder: (if bid submitted by lawful holder or an attorney for the lawful holder)

Lawful holder/or attorney: ______________

Attorney registration number: __________

Attorney address: __________

Attorney business telephone: __________

(4) Upon receipt of an approved bid form from a lawful holder, or submission of a bid form by a treasurer pursuant to subsection (1)(b) of this section, a treasurer shall make such information available to the general public.

(5) A treasurer shall enter a bid by reading the bid amount set forth on the bid form and the name of the person that submitted the bid, or by posting or providing that bid information at the time and place designated for the public auction.

(6) A lawful holder must bid no less than the amount of the total debt, as determined by the treasurer, for the certificate of purchase being sold. The failure of a lawful holder to bid the amount required by this section does not affect the validity of the auction.

(7) Other than a bid by a lawful holder not exceeding the total amount due, as shown on the bid form pursuant to subsection (3) of this section, the payment of any amount bid at an auction must be received by a treasurer no later than the date and time of the auction, or at an alternative time after the auction and on the day of the auction, as specified in writing by the treasurer. A bid payment must be made in the form specified by the treasurer. If a treasurer has not received full payment of the bid amount from the highest bidder at an auction in accordance with this subsection (7), the next highest bidder who timely tenders the full amount of the bid under this subsection (7) is deemed the successful bidder at the auction pursuant to section 39-11.5-110 (4).

(8) A treasurer may establish written policies relating to all aspects of a public auction that are consistent with the provisions of this article 11.5. The written policies must be made available to the general public.

(9) If a property is sold to a third-party bidder or a lawful holder as a competitive bidder, a treasurer may collect up to three hundred dollars from the successful bidder for performing actions related to processing the public auction pursuant to section 30-1-102 (1.7)(a)(XIV).

(10) If a lawful holder is the highest bidder with a bid amount that exceeds the total amount due to the lawful holder as shown on the bid form created pursuant to this section, a lawful holder is required to pay only the excess of the bid over the amount due. A lawful holder shall pay the excess amount to the treasurer within three business days after the public auction.

Source: L. 2026: Entire article R&RE, (SB 26-144), ch. 135, p. 632, § 53, effective June 1.