http://www.trulia.com/voices/Foreclosure/what_happens_when_the_city_forecloses_your_home_-133954en-ushttp://www.trulia.com/voices/profile/Real_Estate_Pro-80012-134005/http://www.trulia.com/voices/profile/Real_Estate_Pro-80012-134005/In Colorado: Usually the lender bids on the property the day before the sale date via the attorney. If the lender does not place a bid, the public trustee extends the sale for another week. Other bids are encouraged at the sale. Other bidders must pay cash to the public trustee. Whomever wins gets a special deed from the public trustee. When depends on how many other recorded liens are against the property. Did you have a more specific question?Sun, 07 Jun 2009 13:50:07 -0700