Homes are foreclosed in Utah at a trustees sale. Trustee sales usually take place at the court house steps of the county seat. This is a public auction, and anybody may bid on the house to buy a house at a trustee sale you should know that:
1. You must provide $5,000 certified funds prior to bidding.
2. Must pay off the entire purchase price in full within 24 hours. For people who don't have hundred thousands lying around, financing can be obtained through hard money lenders.
3. Properties sold at the public auctions are sold without warranties. There still may be judgements tied to the property. The properties might even still have residents needing eviction.
The following Trustee sites will tell you when and where upcoming Utah Foreclosure auctions will be:
Scott Lundberg
Bryan Cannon
Recontrust
Smith Knowles
Marlon Bates
Woodall and Wassermann
You can also find out about upcoming trustee sales by viewing the classifed sections of local newspapers. If nobody purchases the house at the public auction, the property is purchased by the bank. It then becomes a bank owned or REO Property, and will most likely be listed by a Realtor and then sold.
Locations of Utah Trustee Sales-
The location of the Trustee Sales varies depending on the county the property is located. They are usually held on the court house steps of the county seat. Most Utah Trustee Sales occur in Salt Lake City at the Salt Lake County Courthouse, but there are also many in Ogden at the Weber County Courthouse, in Provo at the Utah County Courthouse, and in Farmington at the Davis County Courthouse. The other counties also have foreclosure auctions, just not quite as often.
