If the winning bidder is a person or entity other than the judgment creditor, assessments and real estate taxes shall be prorated through the sale date and paid out of the purchase price.
The title will only be recorded to the winning bidder after confirmation of the sale by the Court and full payment of the purchase price.
The Sheriff’s Office has appraised all real estate up for auction unless otherwise stated. Persons interested in bidding are advised that any appraisals are only sight appraisals and may not consider income, comparables, or the interior of any improvements on the real estate. Unless otherwise indicated, the minimum bid at the initial auction shall be two-thirds of that appraised value.
A judgment creditor shall not be required to make a sale deposit if it is the winning bidder.
For the auction of residential property, if the winning bidder is someone other than the judgment creditor, the winning bidder shall be required to make a sale deposit immediately at the end of the auction, as follows:
If the appraised value is less than or equal to $10,000, the deposit shall be $2,000
If the appraised value is greater than $10,000, but less than or equal to $200,000, the deposit shall be $5,000
If the appraised value is greater than $200,000, the deposit shall be $10,000
For the auction of commercial property, the sale deposit terms shall be as advertised.
A winning bidder shall pay the balance of the purchase price within thirty (30) days after confirmation of the sale by the Court. Failure to pay the purchase price may result in the purchaser being held in forfeiture of deposit, contempt of court, or other sanctions at the Court’s discretion.
For residential properties, the judgment creditor and first lienholder have a right to redeem the property within fourteen (14) days after the sale by paying the purchase price.
For all properties, the judgment debtor has a right to redeem the property any time before confirmation of the sale by the Court.
For all sales, the purchaser shall be responsible for all costs, allowances, and taxes that the proceeds of the sale are insufficient to cover.
All sales are made “as is, where is” and caveat emptor. Private Selling Officer Ohio makes no representations or warranties and, as such, assumes no liability for the condition of the real estate and improvements being sold, including, but not limited to, any environmental or hazardous conditions that may exist within, under, around, or near said real estate and improvements.
Private Selling Officer Ohio makes no representations or warranties regarding the state of title of the real estate and improvements being sold. All persons interested in bidding are advised to consult legal counsel and public records before entering a bid, as well as to work with a title insurer to obtain title insurance.
All real estate remains titled to the defendant(s) in the foreclosure action until the Court confirms the sale, the purchase price balance is paid, and the deed is recorded in favor of the purchaser. Until that time, the purchaser may not take possession of or otherwise enter upon the real estate. If the defendant(s) remain in possession of the real estate after the deed is recorded, the purchaser must either obtain a writ of possession or initiate eviction proceedings. All interested bidders are admonished to consult legal counsel regarding their rights to possession after winning a sale auction.
Private Selling Officer Ohio makes no representations or warranties as to the state of any associated utility accounts with the real estate. Therefore, all persons interested in bidding are admonished to contact the appropriate municipality or public utility to confirm the status of such accounts.
The Private Selling Officer may not give you legal advice.