Funds & Bidding

Sufficient Funds

You will also be required to have sufficient funds with you to bid on the property. Your bid cannot be for more than the amount you have brought to the sale. The Public Trustee's Office cannot, by law, accept personal checks.

Payment of successful bid amounts must be made at the time that a successful bidder is declared by the public trustee and must be in the form of a cashier's check, certified check, official bank or official teller's check, or wire transfer.

Wire Transfers

Wire transfers must be deposited into our bank by 9 a.m. If your wire transfer or check is for more than your successful bid, a refund check will be issued to you within five business days once the public trustee is assured that good and sufficient funds are collected in the trustee's bank account.

Cashier's Checks

Cashier's Checks must be payable only to the "Gunnison County Public Trustee". We cannot accept checks made payable to you or another third party that are endorsed for payment to the public trustee. It is preferred that you have separate checks for each of the properties on which you may bid.

Bidding Increments

Bidding at the sale proceeds in increments of $1 – if the lender has submitted a bid for $150,000, for example, you must bid at least $150,001 in order to be the successful bidder. If another person/entity is bidding on the same property, bidding will proceed, and may be in increments larger than $1, until one of the bidders indicates he/she will not bid any higher.