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Foreclosure Process for South Dakota (SD)
If you live or own a home in South Dakota and are facing foreclosure, please see below for the step-by-step process. Judicial Foreclosure Available: Yes Non-judicial Foreclosure Available: Yes If the mortgage contains a power of sale clause, then it may be foreclosed by advertisement, provided that there is a default on the mortgage. Alternatively, the lender may sue for a judgment against the borrower for the amount of the debt due and an order of sale. Non-judicial Foreclosure Preliminary Notices Contents The foreclosure notice must give the names of the borrower and lender, the mortgage date, the amount due, a description of the premises and the time and place of sale. Advertising A foreclosure notice must be published once a week for four successive weeks in a newspaper in the county where the premises are located. Sale Procedures Time The time must be between 9 A.M. and 5 P.M. Manner The sale is made by the sheriff at public auction to the highest bidder. The lender may bid, too. The winner gets a certificate of sale. Once the redemption period runs out, the buyer gets a deed. Any surplus remains on deposit with the clerk of the court for ... more
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