You must register through the website’s registration portal to be able to bid on a property. You may not impersonate someone else or provide false information. The PSO may require you to submit proof that your registration is valid. Failure to do so may cause the PSO to terminate or suspend your use of the site, making you unable to bid on any properties.
By registering to bid, either as an individual or an entity, you are stating that you have the authority to form a legally binding contract to purchase real property under Ohio law. By registering with the site, you agree that you will be personally liable if you do not have this authority.
Registration Information
You are responsible for protecting your registration information as well as updating and maintaining it. Any actions taken with the use of your registration information are your responsibility. No one else may access or use your information, and in turn, you may not use anyone else’s access or information. You may not transfer, sell, rent, sub-license, or assign your registration information to any third party. Any attempt to do so will result in a ban from the website.
Should any information related to your registration change, you must update it promptly. Failing to do so is at your own risk. You may not seek to hold anyone else liable for failing to upkeep your registration information.
Bidding
By placing a bid on a property, you have indicated your intentions to purchase the property for the amount of your bid plus the buyer’s premium. Should you be the highest bidder and have the court confirm the sale, you will be obligated to complete your purchase of the property for the contract price in accordance with orders from the court and the terms of any agreement.
Extension of Auction Period
If there is bidding in the final moments of the auction, it will be automatically extended for successive fixed periods (the “Anti-Snipe Time”). The auction will end after no bidding occurs during the Anti-Snipe Time.
Auction Cancellation, Postponement, or Cancellation of Sale
As these properties are subject to a court proceeding, the auction might be canceled or postponed at any time, or the court may vacate the sale after the auction takes place or decide not to confirm the sale. Even if you are the highest bidder, your purchase of the property may be delayed indefinitely or canceled entirely. The PSO is not responsible for any costs, expenses, or losses you may incur.
Contingencies
Each property is offered and sold “as is” and “where is,” with all faults, defects, and limitations, apparent or not. If you are the highest bidder, you must accept the property in whatever state and condition the property is in, with all defects, both patent and latent, and with all faults, whether known or unknown, existing at the time or arising in the future. All repairs, inspections, surveys, or permits related to the property are at your own risk and expense.
Contingencies that might apply in a private sale of real estate do not apply to the auction of the property. If you are the highest bidder, your obligation to complete your purchase of the property will be subject only to the court’s confirmation of the sale. You will not be able to make the sale subject to any sort of contingency, including but not limited to a financing contingency, an inspection contingency, an occupancy contingency, or any other contingency.
Winning the Bid
Highest Bidder and Sale Deposit
The PSO has sole discretion to determine the highest bidder, subject to the court’s review of the auction results and the court’s confirmation of the sale.
If you are the highest bidder, you will have to complete and sign a Purchaser Information Form and return it and your sale deposit to the PSO and title company respectively within twenty-four (24) hours of the end of the auction.
Payments are made to the title company identified on the property details page and in the email sent to the highest bidder.
Your payment must be made by wire transfer. No other method of payment is permitted.
Please ensure that your wire transfer references the Auction ID number and the address of the property.
Should you fail to pay the sale deposit, you will be in default of your obligation to purchase the property. Such a default may subject you to contempt of court proceedings or other legal consequences, including potential liability for damages.
The Buyer’s Premium
If you are the highest bidder and a buyer’s premium applies to your purchase, the amount of the buyer’s premium will be added to your bid to determine the contract price. You agree that you will pay the contract price to complete your purchase of the property and that the buyer’s premium will be paid to the PSO.
If you are the highest bidder, you must pay the following amounts by the payment deadline, which is typically thirty (30) days after the confirmation of the sale by the court:
the balance of the contract price,
county transfer taxes,
county deed recording fees, and
any allowances, costs, and taxes that the contract price is insufficient to cover.
Payments are made to the title company identified on the property details page and in the email sent to the highest bidder.
Your payment must be made by wire transfer. No other method of payment is permitted.
Please ensure that your wire transfer references the Auction ID number and the address of the property.
The Title
The PSO will convey title to the property, in accordance with section 5302.31 of the Ohio Revised Code, via a Private Selling Officer’s deed. No warranties of title are made in connection with the conveyance of title.
If you wish to take title in the name of an entity, the PSO will require documentation and information pertinent to an entity’s purchase of the real property. This information may include entity formation documents and resolutions authorizing the transaction, all of which must be complete and accurate at the time it is provided.
