Facing Foreclosure in Colleyville, Keller, or Southlake Texas? Here's What to Do
Direct answer: Tarrant County foreclosure auctions occur at 10:00 AM on the first Tuesday of every month at the west steps of the Tarrant County Courthouse, 100 W. Weatherford Street, Fort Worth. If your home in Colleyville, Keller, Southlake, Watauga, Grapevine, or anywhere in Tarrant County has a sale date scheduled, you have options — but only until the moment the gavel falls.
By Zareena Samidon | Samidon Realty Group | Colleyville, TX
Zareena has lived and worked in Colleyville for years. She knows these neighborhoods — not just as markets, but as communities.
Table of Contents
- The Tarrant County Foreclosure Process
- Your Auction Date: How to Find It and What It Means
- The Specific Markets: Colleyville, Keller, Southlake, and Surrounding Cities
- What Happens to Your Equity at Auction
- How to Sell Before the Tarrant County Auction
- HUD-Approved Housing Counselors in DFW
- Frequently Asked Questions
The Tarrant County Foreclosure Process
Tarrant County follows Texas non-judicial foreclosure law — governed by Texas Property Code § 51.002 — meaning your lender does not need a court judgment to foreclose. The process moves fast:
The timeline in Tarrant County:
| Milestone | Approximate Timing |
|---|---|
| First missed payment | Day 1 |
| Notice of Default issued | Day 90–120 |
| 20-day reinstatement window opens | Upon Notice of Default |
| Notice of Trustee's Sale posted | At least 21 days before auction |
| Notice posted at Tarrant County Courthouse | Simultaneously with mailing |
| Foreclosure Auction | First Tuesday of the month, 10:00 AM |
- Address: 100 W. Weatherford Street, Fort Worth, TX 76196
- Auction location: West steps of the main courthouse building
- Time: 10:00 AM — auctions begin promptly
- Frequency: First Tuesday of every month
- Contact: Tarrant County Clerk — (817) 884-1195
After the notice is posted, can you still sell? Yes — right up until the moment the auction begins. We have completed same-week closings when homeowners called us after seeing their property listed in the foreclosure notices. The key is contacting us immediately, not after researching your options for another week.
Your Auction Date: How to Find It and What It Means
Once a Notice of Trustee's Sale is posted, your home has a specific auction date on the calendar. This date is public record — you can look it up, and so can the entire market.
Finding your notice: Go to tarrantcounty.com → County Clerk → Official Public Records → search by your name or address. Look for "Substituted Trustee's Sale" or "Notice of Trustee's Sale" filed against your property.
What happens at the auction:
The property is offered to the highest bidder. The starting bid is typically the full outstanding loan balance plus fees — sometimes well below market value in Tarrant County's suburban markets. Investors and auction buyers regularly purchase these properties.
If no one bids above the minimum, the lender takes the property back as REO (bank-owned real estate) and sells it later through an agent.
You receive nothing from an auction sale if the sale price equals only the loan balance — and you may still owe a deficiency judgment if the sale price is less than what you owe.
Your home's equity — which represents years of payments and market appreciation — can disappear in a single Tuesday morning. That equity belongs to you, and a pre-auction sale is how you keep it.
The Specific Markets: Colleyville, Keller, Southlake, and Surrounding Cities
These are the communities Samidon Realty Group serves most directly — and the markets Zareena knows personally.
Colleyville — Home values in Colleyville's established neighborhoods (Montclair Parc, Pleasant Run Estates, Stone Bridge Estates) typically range from $550,000 to $1.2M+. The gap between what a Colleyville home sells for at a courthouse auction and what it's worth at retail is often $100,000–$250,000. Protecting that equity through a pre-auction sale is critical.
Keller — Keller's neighborhoods (Hidden Lakes, Keller Pointe areas, Bear Creek) have seen strong price appreciation in recent years. Median home values sit between $450,000 and $750,000. The investor community is active in Keller foreclosure auctions — meaning your equity can transfer to an investor quickly without any going to you.
Southlake — Southlake's Carroll ISD premium means even modest homes command significant prices. A foreclosure auction in Southlake routinely sees investor competition for properties in the $700,000–$1.5M range. There is no price too high for equity to be lost at auction.
Watauga, Hurst, Euless, Bedford — These mid-Tarrant communities (often called the Mid-Cities) have seen price compression recently, but homeowners still hold meaningful equity in homes valued at $280,000–$420,000. The same auction risk applies.
Grapevine — Grapevine's proximity to DFW Airport and the historic downtown has sustained strong values in the $350,000–$600,000 range. Foreclosure auctions here attract sophisticated investors who know the market well.
Fort Worth and Arlington — The largest cities in Tarrant County have the highest volume of foreclosure actions. The investor presence at Fort Worth and Arlington auctions is substantial.
In every one of these markets, the single best protection against losing your equity to an auction buyer is a pre-auction cash sale.
What Happens to Your Equity at Auction
Let's make the numbers concrete for a Tarrant County homeowner.
Example: Keller homeowner with 60% LTV
| Item | Amount |
|---|---|
| Home's market value | $620,000 |
| Outstanding mortgage balance | $248,000 |
| Equity | $372,000 |
| Auction minimum bid (loan balance + fees) | ~$255,000 |
| Typical auction sale price (below market, investor purchase) | $380,000–$420,000 |
| Lender receives (payoff) | $255,000 |
| You receive from auction | $0 – $165,000 (if any excess) |
In Texas, any amount above the outstanding debt and fees goes to the former homeowner — in theory. In practice, foreclosure auction buyers rarely overbid significantly when they can acquire at or near the minimum. The lender's incentive is to get paid, not to maximize your equity.
Example: Same homeowner sells to a cash buyer before auction
| Item | Amount |
|---|---|
| Cash offer (as-is, no repairs) | $560,000 |
| Mortgage payoff | $248,000 |
| Closing costs | ~$8,000 |
| You receive | ~$304,000 |
That's $304,000 in your pocket versus a potential $0 at auction — on the same house, in the same market, separated only by the decision to act before the auction date.
How to Sell Before the Tarrant County Auction
Step 1: Contact us now. Not tomorrow. Now. Every day between today and the auction date is a day of options. Every day you wait is a day fewer.
Call or text: (817) 901-0381 — Zareena answers personally or returns calls within hours, including weekends.
Step 2: One walkthrough. We schedule a single visit to your property. No cleaning, no staging, no repairs. We assess the as-is condition and confirm the property details.
Step 3: Written offer within 24–48 hours. A specific dollar amount. Not a range. Not "it depends." A real number you can take to your attorney and evaluate.
Step 4: Both parties sign. You and any co-owner (spouse, co-borrower) sign the purchase agreement. If you're in a Standing Order situation due to a divorce, we coordinate with both attorneys.
Step 5: Title work and payoff confirmation. Our title company (experienced with Tarrant County auction situations) orders the title search and mortgage payoff simultaneously. We can compress this to 5–7 business days for emergency closings.
Step 6: Close at the Tarrant County title company. Proceeds wire directly to your lender — the foreclosure is cancelled. You receive your equity.
Emergency timeline for imminent auction: If your auction is within 10 days, call us immediately. We have resources to close in 5 business days in Tarrant County. It requires everyone moving fast — but it is possible and we have done it.
HUD-Approved Housing Counselors in DFW
If you'd like free, independent counseling on your options before making any decisions, HUD-approved housing counselors can help at no cost:
- NeighborWorks America — Fort Worth: (817) 924-5091
- Consumer Credit Counseling Service of Greater Dallas: (214) 638-2227
- HUD hotline (nationwide referrals): (800) 569-4287
- Online locator: hud.gov/find/counseling
These counselors can explain modification, forbearance, and short sale options, and help you understand your mortgage servicer's loss mitigation process. Their services are free because they are HUD-approved and funded by federal grants — not by your lender.
Frequently Asked Questions
I just found my property listed in the Tarrant County foreclosure notices. How much time do I have?
Texas law requires at least 21 days' notice before the auction date. The auction is always the first Tuesday of the month. If you found the notice today, calculate how many days until the next first Tuesday — that's your window. Call us immediately; emergency closings are possible but require starting today.
Can Zareena's local knowledge actually help me get a better offer?
Yes. Because Zareena lives and works in the Colleyville-Keller-Southlake corridor, she has direct knowledge of what buyers pay in these specific neighborhoods — not just countywide averages. This means our offer reflects your neighborhood's actual value, not a generic estimate.
What if I'm behind on property taxes as well as the mortgage?
Both can be resolved at closing. The title company will pay off any Tarrant County tax delinquencies from the sale proceeds before distributing equity to you. You don't need to bring cash to closing.
Does Zareena work with homeowners whose homes are worth over $1 million?
Yes. We work with properties at all price points in Tarrant County. The equity at stake in Southlake and Colleyville's higher-value neighborhoods actually makes pre-auction selling even more important — there's more to lose at auction.
Are there any fees to get a cash offer from Samidon Realty Group?
No. The walkthrough, evaluation, and written offer are completely free with no obligation.
Call Before the Next First Tuesday
Tarrant County's auction calendar doesn't stop for anyone. But the first Tuesday is always coming — and the window between now and then is when we can help you most.
Serving: Colleyville · Keller · Southlake · Watauga · Grapevine · Hurst · Euless · Bedford · Fort Worth · Arlington · All of Tarrant County
Related Articles:
- How to Sell Before Foreclosure in DFW, Texas
- The Texas Foreclosure Timeline: Day-by-Day
- 3 Months Behind on Your Mortgage in Texas? Your Options
- Foreclosure vs. Short Sale vs. Cash Sale: Credit Impact
For informational purposes only. Not legal advice. Contact a HUD-approved housing counselor at (800) 569-4287 for free guidance. Zareena Samidon is a licensed Texas real estate professional and founder of Samidon Realty Group, based in Colleyville, TX 76034.