How to Buy South Dakota Foreclosures

Primarily, a non-judicial procedure for deed of trust foreclosure is followed in South Dakota, but in the absence of a clause of power of sale in the deed of trust or if a regular mortgage is used, a lender can opt for the judicial foreclosure procedure.

The public auction of foreclosure sale can take place no sooner than ninety days after the property owner is presented the notice of default. Considering that a foreclosure property is generally sold for a lesser price in preforeclosure than after becoming Real Estate Owned (if it does not sell at the auction), it is best to be bought during the preforeclosure phase.