North Dakota Foreclosure Law
North Dakota foreclosures are administered through the court
system. The foreclosure process takes about five months.
Pre-foreclosure Period
North Dakota law requires that the lender give the borrower
no less than 30 days notice of their intent to foreclose prior
to beginning foreclosure proceedings. If the borrower cannot be
located, the lender will need to publish a notice of their
intent to foreclose. After the pre-foreclosure notice is given,
the lender can file the appropriate documents in court to begin
the foreclosure. The court assesses the amount of the borrower's
debt and gives them a short time to pay. If the borrower fails
to pay the debt within the specified timeframe, the property
goes up for sale, as advertised by the court clerk. The borrower
can stop the process and reinstate the loan by paying the
delinquent amount within the 30-day period prior to foreclosure.
Notice of Sale / Auction
It takes about two months to properly publish and advertise
the foreclosure sale. Notice of sale is provided to the borrower
and published in the county newspaper, with the last publication
occurring at least 10 days before the date of the sale.
Foreclosure sales in North Dakota are made by public auction by
the county sheriff or his deputy. The property is sold to the
highest bidder, and the winning bidder must pay in cash at the
auction. The winning bidder is awarded a certificate of sale
until the borrower's redemption period has ended. Following the
redemption period, which is typically six months, the sheriff
transfers ownership to the winning bidder.
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