- How Do I...
- Auctions on Property Foreclosures
Auctions on Property Foreclosures
The Teton County Sheriff's Office holds scheduled auctions on property foreclosures as warranted on Tuesdays and Thursdays at 10 am on the Teton County Courthouse steps. Law Firms and Banks wishing to schedule foreclosures should contact Mary Faulkner at 307-732-8322 prior to setting an auction date. Notices are published in the Jackson Hole News and Guide weekly with all pertinent information. Auctions may be canceled up to the time of the sale.
Per Wyoming State Statute 1-18-111 (Sale on foreclosure of a mortgage, generally), when a mortgage is foreclosed a sale of the premises shall be ordered. The decree directing the sale is a sufficient warrant for the Sheriff or other officer to proceed to advertise and conduct the sale. An order of sale issued by the clerk of court or an appraisement of the real property to be sold is not necessary. When the premises to be sold are in one or more tracts, the court may direct the officer who makes the sale to subdivide and sell the same in parcels, or to sell any one of the tracts as a whole.
- I want to bid on a property listed in the paper. What do I do?
You or a representative must be present to bid on the property. The auction is held on the courthouse steps at the date and time listed.
- Is there a minimum bid?
Yes, the law firm representing the mortgage and/or title company will be present and supply the opening bid.
- If I am the highest bidder what is the process?
A deposit equal to the purchase price must be deposited into the Sheriff's Office account by 5 pm the day of the sale. If the funds are not deposited, the next highest bidder has the opportunity to purchase the property at their highest bid price. The money is held for a period of three months during which time the lien holder has the opportunity to satisfy the loan. After the initial three-month period, each junior lienholder has a 30-day period to satisfy the loan. The funds will be forwarded to the law firm representing the mortgage company. The funds from the sale will earn interest at 10% and are refunded if the lien is satisfied by one of the primary or junior lien holders.
- I am responsible for any liens, taxing or other filings against the property?
Yes. It is the buyers' responsibility to find out if there are any filings against the property. The Sheriff's Office is not responsible for disclosing this information.