When and where is the Public Trustee sale conducted?

The sale is conducted in the Office of the Public Trustee, 301 Wilcox St., Castle Rock, Colorado every Wednesday morning at 10 a.m.

What type of funds are necessary to bid at the Public Trustee Sale?

Cash or certified funds must be tendered at the time of sale.

When are the foreclosure reports updated?

The foreclosure reports are updated every Thursday. The foreclosure reports are available for viewing in the Office of the Public Trustee, free of charge, Monday through Friday from 8 a.m. to 5 p.m. (excluding legal holidays). A mail subscription is available for $130 per quarter.

Where can I obtain information about other liens against this property?

Information concerning liens recorded against a property can be obtained by contacting the Douglas County Clerk and Recorder's Office, 301 Wilcox St., Castle Rock, CO 80104, or by calling 303-660-7446.

Does the Office of Public Trustee conduct seminars concerning the foreclosure process?

The Office of the Public Trustee does not conduct public seminars concerning the foreclosure process. Instead this website serves as a tool to instruct citizens interested in learning about the foreclosure process.

What is a deficiency bid?

A deficiency bid occurs when the foreclosing lender submits a written bid for an amount less then the amount owed. The foreclosing lender may elect to sue the homeowner, or anyone else who signed the original promissory note (loan papers), for the amount of the deficiency (the amount owed minus the amount of the bid). Bidding at the Public Trustee sale on properties that have deficiency bids begins at $50 over the lender bid amount. In most cases lenders file deficiency bids because the adjusted fair market value of the property is less than the amount owed to them.

What happens to the funds bid in excess of the amount bid by the foreclosing lender?

In the event the foreclosing lender bids less than the amount due them ( a deficiency bid), the amount of the deficiency would be reduced by the funds generated by the Public Trustee sale. If the lenders bid was not deficient, and someone bids on the property in excess of the amount owed to the lender, at a Public Trustee Sale, overbid funds are distributed in a prescribed order. The funds are held by the Douglas County Treasurer until all periods of redemption have expired.

If a Certificate of Purchase or a Public Trustee's Deed is issued for a foreclosure on a second mortgage, does that remove the first mortgage holder's lien from the property?

No. In this case the Certificate of Purchase Holder or Public Trustee Deed Holder would take title to the property subject to the first mortgage, or any other senior liens. Foreclosure is a very complex process and we suggest you contact your legal advisor if you have concerns or questions about a specific property.