Granby Ranch foreclosure sale postponed
Granby Ranch’s foreclosure sale has been delayed by at least a week, according to the Grand County Public Trustee’s office.
The foreclosure sale scheduled for Friday was put off because the public trustee’s office did not receive an opening bid from the lender, Granby Prentice, by noon Wednesday.
By law, this means the sale will be delayed until next Friday, July 24. The delay could be longer if the lender requests more time. It is unclear why the lender did not submit a bid.
Typically, the starting amount for a foreclosure bid is the outstanding balance, which is listed as $47.5 million for Granby Ranch, plus the various fees associated with the foreclosure process. Anyone who proves they have the funds to cover that amount can bid on the properties, but foreclosure sales usually go to the lender.
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