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Internet Auction

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1. What is an Internet lien auction and how is it different from a traditional auction?

Instead of meeting in a large room with everyone calling out their bids, each bidder places his/her bid electronically, over the internet with a computer.

2. What equipment and software will I need?

No special equipment or software is needed for the sale. To participate in the auction bidders must have access to the internet. For those without internet access the Treasurer's Office will have computers available for use at the Adams County Government Center, 4430 South Adams County Parkway, 2nd Floor, Suite C2436, Brighton.

3. Is training available for the auction software and how do I get it?

On-site training classes will be held at yet to be determined dates and times. Attendance is by registration only.
Please visit www.adamstaxsale.com/training for a list of available dates and locations. Dates and locations will be announced after October 10th, 2013.
Telephone support is also available by contacting the Realauction toll free customer support center at 877.361.7325.

4. How much does it cost to enter the auction?

There is no fee to participate. However, each bidder must place a deposit equal to 10% of the total dollar amount of liens they anticipate winning. Deposits must be submitted on the website by 5 p.m. MST on October 29, 2013.
For example: If a bidder anticipates winning $100,000 in tax liens, he/she must deposit $10,000 with the Treasurer.
Deposits may be entered beginning October 9, 2013, when the advertising list for the current year's auction becomes available on the website.

5. What happens if I exhaust my deposit while I still have active bids?

Bids remaining WILL NOT be placed. Deposits must be authorized on the website no later than 5 p.m. MST, October 29, 2013.

6. How do I pay for my security deposit and liens purchased?

Security deposits and payments for liens won can be made using the ACH payment wizard on the auction website.

7. How do I get started?

To register visit www.adamstaxsale.com. starting October 9, 2013, and click "Register". The step by step wizard will guide you through the registration process.

8. What is a Batch?

The liens being advertised are sold individually. However, in order to make the bidding process more manageable, the liens are divided into groups called "batches" consisting of approximately 500 liens each.

9. When can I start bidding?

You may begin entering your bids for any or all batches after registering starting October 9, 2013. This preliminary time prior to the sale is available so you may research properties and select properties of your choosing and the amount of premium you are willing to pay. You may modify your bids up to the closing hour of a batch on the closing day of the sale, November 1, 2013.

10. When does the auction start and end?

You may register and bid after the sale site opens on October 9, 2013. All items in Batch 1 will end on November 1, 2013 at 9 a.m. MST. Each subsequent batch will end on the hour until 4 p.m. MST when the auction officially closes. If you are "live" on your computer November 1, 2013, you will know what you have purchased at the end of each hour and may adjust your bids on any future batches. Please be aware that approximately the last two batches are mobile homes and you should carefully research these before bidding.

11. Can other participants see my bids?

No.

12. How does the bidding work?

On the bid screen, each auction participant enters the maximum dollar amount over the lien face amount that they are willing to pay. This dollar amount is referred to as a "premium". Bids must be entered in whole dollars (no cents). To enter a bid at face value, you would enter a $0 premium amount.

At the closing of each batch, the auction software evaluates all bids and the lien is awarded to the highest bidder provided he or she has a sufficient amount of deposit with the county at that time.

13. What is Proxy bidding?

On the bid screen, auction participants enter the maximum premium amount they are willing to pay. At the close of a batch when winners are determined, the system will automatically enter bids on your behalf until you are either the highest bidder OR the maximum premium dollar amount that you entered has been reached. If you are the winning bidder, the premium amount that you owe will be $1 greater than the next highest bidder (provided there are no ties).

For example: If a lien face amount is $500.00 and Bidder A enters a premium amount of $20 and Bidder B enters a premium amount of $40, then at the closing of that batch the lien will be awarded to Bidder B and the total amount due will be $521.00 (Face amount of $500 plus $21 of premium).

14. What happens in case of a tie bid?

In the case of a tie, the winner will be selected at random by the auction software. The process used to select the random winner has been certified by an independent third party.

15. When do I have to pay for a successful bid and what happens if I don't?

Funds to cover all winning bids must be authorized on the website by November 4, 2013 by 5 p.m. MST. If payment is not posted by that time, the lien will be awarded to the next highest bidder. If you fail to pay for liens purchased, the County may revoke future bidding privileges §39-11-116, C.R.S.

16. What happens to leftover deposit money?

Any deposit money not credited toward winning bids will be returned to the bidder approximately two weeks after the close of the auction.

17. How do I contact Customer Service?

Customer Service will be available starting October 9, 2013, from Realauction.

Website: Website: www.realauction.com
Address: 861 SW 78th Avenue, suite 102, Plantation, Florida 33324
Phone: 877.361.7325
Customer Service Email: customerservice@realauction.com
Office Hours: Weekdays 7 a.m. to 4 p.m. MST

You my also contact the Adams County Treasurer's Office, Sandy Baker (720.523.6178) or Ken Sigley (720.523.6376). Our office hours are weekdays 7 a.m. to 5 p.m. MST

18. Summary of Important Dates

October 9, 2013: www.adamstaxsale.com opens for registration, deposits and bidding.
November 1, 2013: Auction Closes
November 4, 2013: Payments for Winning Certificates are Due