Twenty-six properties and lots in Utah snagged offers totalling $5.84 million at an auction in Provo earlier this week.

The auction, which was managed by Utah Real Estate Auctions LLC, attracted up to 350 attendees including 200 registered bidders on Tuesday at the Provo Marriott. More property auctions are likely to be held in the coming months with growing numbers of homeowners in Utah falling behind on their mortgage payments or slipping into foreclosure as the recession deepens.

A total of 35 homes and condominiums and seven lots -- owned by several builders, banks and investors -- valued at $21.5 million in total were on the auction block. Twenty-eight of the 35 properties are in Utah County, and one of the seven lots is in Orem. Thirteen properties and lots are in Salt Lake County.

Only 23 homes and three lots received offers on Tuesday, said Zane Berry, a Realtor-auctioneer with Utah Real Estate. The unsold properties will go back on the market.

Starting bids on the homes range between $100,000 and $800,000, while bids on lots ranged between $65,000 and $150,000.

The most expensive properties were two Country French subdivision homes in Highland valued at $1.5 million each. One of them snagged an $800,000 short-sale offer.

The lenders in general will have seven days to verify and accept the bids, but if the property is in a short sale, then the lender will have 30 days to accept or reject the bids. Once the highest bidders are notified of their bid's acceptance, they will have 30 days to close on the property.

"Each property averaged about five to six bidders, and each one achieved between 60 percent and 70 percent of their total value," Berry said.

Homes in the $100,000 to $300,000 price range seemed to be the most popular, while lot sales remained sluggish, he said. "The lower-priced homes each had about five to eight bidders, but more expensive homes had only two to three bidders each. Based on the bidders response, we'll try to offer cheaper homes to target more people at our next auction."

"Lots are less appealing to buyers now because not as many people want to build when they can buy a finished home for less than what it will cost them to build," said Kevin Gallagher, the company's broker-auctioneer.

Utah Real Estate will hold its next auction on Jan. 27.