Foreclosures & Short Sales in Colorado Springs, CO

More cases end early than sell. The El Paso County Public Trustee recorded 775 new foreclosure starts from January through September 2026, up from 732 in the same months of 2025. Over that stretch, the office recorded 279 sales, 414 withdrawals, and 69 cures.

The county logged 960 starts in all of 2025, far below its 2009 total of 5,288. Recent auction notices have included homes in 80916, 80918, and 80907. A home on the auction calendar can still drop off, because lenders pull bids late and the trustee posts its pre-sale list early Tuesday afternoon.

When no outside bidder tops the lender, the lender often takes the home and lists it later as bank-owned. The county's auction rules show why many buyers wait for that listing.

• Full deposit up front: Bidders deposit 100% of their highest planned bid by 4 p.m. the day before the auction, and all sales are final.
• Prior liens stay: Title is subject to prior liens, and the trustee keeps no record of them, so the lien search falls on the bidder.
• An 8-business-day wait: Title passes at the end of the 8th business day after the sale, or later if a junior lienholder files to redeem. Until then, the prior owner still owns the home.

Vacant bank-owned homes often have gas, water, or power shut off. Without them, an inspector cannot run the furnace or pressure-test the plumbing. In the city, all three come from Colorado Springs Utilities, and on an REO, the bank usually has to start service.

Colorado Springs Utilities says business applications can take up to three days, and a field crew turn-on can add a fee. We ask that the utilities be turned on in writing once the contract is signed, then count those days against the inspection deadline. We also ask who pays to de-winterize the plumbing, and who re-winterizes it if you walk away.

We handle REO and short-sale purchases across Colorado Springs, and we pull the property tax record from the El Paso County Treasurer early. A distressed home can carry unpaid taxes that the closing has to clear. Call or text 719-357-7366, and we can help with any foreclosure or short sale purchase.