What happens after a foreclosure sale in Oregon

What happens after the sale in Oregon, in order

1. Trustee's deed to the buyer

   Within 10 days after the buyer pays

   The buyer pays at the sale and the trustee then signs a trustee's deed. Within 10 calendar days, the trustee may cancel the sale only for listed reasons, such as a bona fide error, or if you and the lender had agreed to a foreclosure avoidance measure or the lender accepted your cure money.

   ORS 86.782(3), (4)

2. No right to buy the home back

   None after a trustee's sale; 180 days after a court foreclosure sale

   A person whose interest was ended by a trustee's sale cannot redeem the property. Only if the lender foreclosed through a court case can the former owner redeem within 180 days after the sheriff's sale.

   ORS 86.797(1); ORS 18.964

3. Buyer's right to possession

   10th day after the sale

   If you stay past the 10th day, you are treated as a tenant at sufferance. The buyer cannot change the locks on its own. It must file an eviction case under ORS chapter 105.

   ORS 86.782(6)(a)

4. Eviction case and move-out

   First appearance about 7 days after filing; at least 4 days after a judgment

   You will be served a summons with a first appearance date. If the buyer wins, the court clerk issues a notice of restitution that gives you at least 4 days to remove yourself and your things. After that, the sheriff can serve a writ and return possession to the buyer.

   ORS 105.135, 105.151, 105.161

5. No deficiency on a home loan

   After a trustee's sale or a court foreclosure of a residential trust deed

   The lender cannot sue you for the shortfall on that loan. The same protection covers a second loan made the same day, as part of the same purchase, by the same lender or its affiliate. Other debts on the home may still be collectible, so ask a lawyer.

   ORS 86.797(2)

6. Surplus money

   After the trustee pays sale costs, the loan and later recorded liens

   If the home sold for more than those amounts, the surplus goes to you as the grantor or to your successor. Give the trustee your new address and ask in writing whether there is a surplus.

   ORS 86.794

7. If you never got the danger notice

   Tell the trustee, buyer, lender or servicer in writing within 60 days after the buyer takes possession

   If the danger notice was not sent and you did not actually get a copy at least 25 days before the sale, Oregon law gives you the same rights as a junior lienholder left out of a court foreclosure. This is complicated, so talk to legal aid or a licensed attorney quickly.

   ORS 86.761

The three questions that matter after a sale

Common questions in Oregon