Oklahoma Foreclosure Laws

Written by Manuel Martinez, RealtyTrac contributorPublished Jun 6, 2013

Last updated Aug 17, 2023

Key Takeaways

Most Oklahoma foreclosures go through the courts; the full process takes 6-7 months.
Borrowers usually have 20 days to respond after notice of the court action.
The opening bid must be at least two thirds of the appraised value, if an appraisal was made.
Borrowers can redeem until the court confirms the sale, about 15 days afterward.

Foreclosure Process Overview

In Oklahoma, foreclosures are conducted either in court or out of court. The total foreclosure process takes 6-7 months in Oklahoma.

Judicial	Non Judicial	Comment	Process Period	Publish Sale	Redemption Period	Sale/NTS
•	•	Judicial mostly	186 days	N/A	None	Sheriff

Pre-foreclosure Period

The lender can proceed with foreclosure out of court as long as the mortgage or deed of trust gives them the authority to do so. However, the restrictions under Oklahoma law make it difficult to initiate a foreclosure out of court, so this type of foreclosure is rare.

The majority of foreclosures in Oklahoma are through the court system. After sending any required warning letters to the borrower, the lender files in court against the borrower for default on the loan. A notice of this court action is also delivered in person and by mail to the borrower, after which the borrower usually has 20 days to respond. If the court decides to rule against the borrower, the property is scheduled for public sale.

Notice of Sale / Auction

Notice of sale is recorded in the county where the property is located. Notice is also published in a local newspaper in the county where the property is located once each day for four consecutive weeks. The first publishing date must be at least 30 days prior to the date of sale.

The property is sold at a public auction overseen by the county sheriff with an opening bid no less than two thirds of the property’s appraised value. In the case where no appraisal was made, there is no minimum bid required. The highest bidder must provide cash or certified funds equal to 10 percent of their bid amount. If for any reason the sheriff’s sale is cancelled, the entire foreclosure process starts over.

After the sale, it takes about 15 days for the sale to be confirmed by the court. The borrower can redeem the property by paying off the full amount owed up until the sale is confirmed. The borrower has no redemption rights after the sale has been confirmed.

Frequently Asked Questions

How long does foreclosure take in Oklahoma?

The total foreclosure process takes 6-7 months.

Can I redeem my home after a foreclosure sale in Oklahoma?

Only until the court confirms the sale, which takes about 15 days. There are no redemption rights after confirmation.

What does the winning bidder pay at an Oklahoma sheriff's sale?

The highest bidder must provide cash or certified funds equal to 10 percent of the bid.

Sources & References

Outside sources cited in this article.

12 O.S. § 762: Property not to be sold for less than two-thirds of value, Oklahoma State Courts Network
12 O.S. § 765: Confirmation of sale, Oklahoma State Courts Network

About the author: Manuel Martinez

RealtyTrac contributor

Manuel Martinez is a contributor to RealtyTrac who writes about local housing markets, home buying and real estate investing. He has written for RealtyTrac since 2013, covering city and state market reports, home buying guides and tips, investment financing and strategies for buying and flipping homes.