How foreclosure works in Idaho
By Rent to Own Guide · Published · How we research
Short answer
| Process | Trustee's sale by advertisement, or court foreclosure at the lender's option (§ 45-1503) |
|---|---|
| First step | Notice of default recorded with the county recorder (§ 45-1505) |
| Notice of sale | Mailed at least 120 days before; posted and published 4 weeks (§ 45-1506) |
| Reinstatement | Within 115 days after the notice of default is recorded |
| Payment | “Forthwith” at the sale; buyer gets possession on day 10 |
| Redemption | None after a trustee's sale (§ 45-1508); 6 months after a court sale of 20 acres or less |
| Deficiency | Suit within 3 months, capped at debt minus fair market value (§ 45-1512) |
| Pre-foreclosure purchases | Written contract, required notice, 5-business-day cancellation (ch. 45-16) |
How an Idaho foreclosure works
An Idaho deed of trust can be foreclosed “by advertisement and sale,” a trustee's sale without court, or at the lender's option in court like a mortgage (Idaho Code § 45-1503). For a trustee's sale:
- Notice of default. The trustee or lender records it with the county recorder, stating the default and the election to sell (§ 45-1505). For a regulated lender's loan on a primary residence, it comes with a form to request a loan modification within 30 days; the lender must answer within 45 days, and the sale can't happen until it does (§ 45-1506C).
- Notice of sale, at least 120 days ahead. It goes by registered or certified mail to the owner and junior lienholders. The trustee also makes three attempts to serve an adult living in the home and posts the notice there, at least 30 days before the sale, and publishes it once a week for four weeks, the last at least 30 days before (§ 45-1506).
- The auction. The trustee sells to the highest bidder at the time and place in the notice, between 9 a.m. and 4 p.m., somewhere in the county. A sale can be postponed by announcement, no more than 30 days at a time (§ 45-1506).
Buying at an Idaho trustee's sale
- Pay at once. The buyer “shall forthwith pay the price bid”; if a buyer refuses, the trustee can resell (§ 45-1506(9)). Idaho law doesn't set a deposit amount, so ask the trustee named in the notice for its terms.
- Possession on day 10. The buyer is entitled to possession on the tenth day after the sale (§ 45-1506(11)).
- The sale is final. A trustee's sale ends the interests of everyone given notice, and they “shall have no right to redeem the property” (§ 45-1508). Liens senior to the deed of trust remain, so run a title search first.
Buying a pre-foreclosure home in Idaho
Idaho's Consumer Foreclosure Protection Act is short but broad. During the foreclosure period, any contract with the owner that transfers an interest in a home being foreclosed must be in writing and carry a state-required notice in 12-point bold type, warning about “save your home” offers (§ 45-1602). The owner can cancel the deal within five business days, and no money or interest in the property can change hands until then (§ 45-1603).
Unlike in Colorado or Arizona, investors and real estate licensees aren't exempt; the exemptions cover regulated lenders, banks and credit unions, licensed mortgage lenders and brokers, and family members (§ 45-1604). Violations fall under the Idaho Consumer Protection Act. Close any purchase from an owner in foreclosure through an Idaho title company or attorney.
Where to find Idaho foreclosure records
- County recorder: the notice of default is recorded in the county where the home is (§ 45-1505), at least 120 days before any sale, so it's the earliest public signal. Affidavits of mailing, posting and publication are recorded at least 20 days before the sale.
- Newspaper notices: the Idaho Newspaper Association posts them free at IdahoPublicNotices.com.
- Listings: Idaho pre-foreclosures on Foreclosure.com and Idaho foreclosures. Check the recorded notice before acting on a listing.
If the home in foreclosure is yours
You can reinstate within 115 days after the notice of default is recorded by paying what's past due plus costs and fees, not the accelerated balance (§ 45-1506(12)). After that, reinstatement is up to the lender. If you got a loan modification request form, send it back within 30 days. After a court foreclosure sale, you can redeem within six months for land of 20 acres or less (§ 11-402); after a trustee's sale, you can't.
A lender has only 3 months after a trustee's sale to sue for a deficiency, and the court limits it to the debt minus the home's fair market value (§ 45-1512). Idaho Housing and Finance Association points homeowners to free counseling with a HUD-approved counselor (IHFA). Our homeowner options guide covers the main choices.