Information On Foreclosure Auctions In Ohio

Where can I get the most up-to-date information for each Ohio county’s Live Foreclosure Sales?

To learn more about Sheriff-conducted live foreclosure sales, go to the relevant County website or contact the County directly.

Always double-check all information about foreclosure sales with the proper county. The following FAQs on Foreclosure Sales were not created in collaboration with any County. These FAQs are offered solely for educational and informational purposes, and are not intended to replace professional advice, whether legal, real estate, or otherwise. The presented information is subject to change. Please make use of the county-specific links and contact information provided for the most up-to-date information on foreclosure sales. Prospective bidders should seek professional guidance and read the County’s Terms of Sale carefully before contacting the County to fully understand the foreclosure process and foreclosure sales.

What is the procedure for a foreclosure sale in Ohio?

The traditional auction is held by the county sheriff as a live public auction open to in-person bidders. The property is either sold to a third-party bidder or reverts to the beneficiary (Bank or Lender) as a REO or Bank Owned property in both sales. Please check with the relevant County Sheriff for local bidding guidelines at live auctions, since they may differ.

When and where do foreclosure auctions take place?

The time and location of live Sheriff-conducted foreclosure sales vary per county in Ohio. For detailed information, please visit the appropriate county website or contact the county directly.

What if a property is canceled or rescheduled?

For a variety of reasons, a property sale may be canceled or postponed. There is no certainty that a specific property will be put up for sale.

Will the property be completely free of any liens?

No, most of the time. Many homes will be sold “as is,” meaning they will be sold with all flaws and limitations. All potential bidders are encouraged to undertake their own due diligence and research on all aspects of the properties they are interested in purchasing. Prior to the sale, you should obtain independent assistance to complete your own due diligence and gain a thorough understanding of the foreclosure process and foreclosure transactions in general. Prior to the transaction, you must do a title search and seek any necessary guidance from counsel.

Is it possible for me to inspect the property?

No, because these properties may be occupied, potential bidders are not permitted to trespass on the property, disturb the occupants, or contact the borrowers for property information.

Will a deed of sale be sent to me?

Yes, after the sale is recognized by the court and full payment is made, the winning bidder will get a mortgage deed from the county recorder. The time it takes from recording to receiving a deed varies by county, although it is shortened when buying in online foreclosure sales performed by a Private Selling Officer, as the closing is handled by a professional title company.

What does Ohio’s foreclosure redemption period entail?

The court must then confirm the foreclosure sale, which can take anywhere from 30 to 60 days depending on the county. The ‘Redemption Period’ is the time between the sale and the confirmation. Important: The homeowner has the right to buy back their home during the redemption period, albeit this happens infrequently. During the redemption period, you are unable to dismiss tenants or collect rent. For particular specifics on Ohio’s redemption legislation, please consult your real estate counsel or the County.

Where can I get the most up-to-date information for each Ohio county’s Live Foreclosure Sales?

To learn more about Sheriff-conducted live foreclosure sales, go to the relevant County website or contact the County directly.

Always double-check all information about foreclosure sales with the proper county. The following FAQs on Foreclosure Sales were not created in collaboration with any County. These FAQs are offered solely for educational and informational purposes, and are not intended to replace professional advice, whether legal, real estate, or otherwise. The presented information is subject to change. Please make use of the county-specific links and contact information provided for the most up-to-date information on foreclosure sales. Prospective bidders should seek professional guidance and read the County’s Terms of Sale carefully before contacting the County to fully understand the foreclosure process and foreclosure sales.

What is the procedure for a foreclosure sale in Ohio?

The traditional auction is held by the county sheriff as a live public auction open to in-person bidders. The property is either sold to a third-party bidder or reverts to the beneficiary (Bank or Lender) as a REO or Bank Owned property in both sales. Please check with the relevant County Sheriff for local bidding guidelines at live auctions, since they may differ.

When and where do foreclosure auctions take place?

The time and location of live Sheriff-conducted foreclosure sales vary per county in Ohio. For detailed information, please visit the appropriate county website or contact the county directly.

What if a property is canceled or rescheduled?

For a variety of reasons, a property sale may be canceled or postponed. There is no certainty that a specific property will be put up for sale.

Will the property be completely free of any liens?

No, most of the time. Many homes will be sold “as is,” meaning they will be sold with all flaws and limitations. All potential bidders are encouraged to undertake their own due diligence and research on all aspects of the properties they are interested in purchasing. Prior to the sale, you should obtain independent assistance to complete your own due diligence and gain a thorough understanding of the foreclosure process and foreclosure transactions in general. Prior to the transaction, you must do a title search and seek any necessary guidance from counsel.

Is it possible for me to inspect the property?

No, because these properties may be occupied, potential bidders are not permitted to trespass on the property, disturb the occupants, or contact the borrowers for property information.

Will a deed of sale be sent to me?

Yes, after the sale is recognized by the court and full payment is made, the winning bidder will get a mortgage deed from the county recorder. The time it takes from recording to receiving a deed varies by county, although it is shortened when buying in online foreclosure sales performed by a Private Selling Officer, as the closing is handled by a professional title company.

What does Ohio’s foreclosure redemption period entail?

The court must then confirm the foreclosure sale, which can take anywhere from 30 to 60 days depending on the county. The ‘Redemption Period’ is the time between the sale and the confirmation. Important: The homeowner has the right to buy back their home during the redemption period, albeit this happens infrequently. During the redemption period, you are unable to dismiss tenants or collect rent. For particular specifics on Ohio’s redemption legislation, please consult your real estate counsel or the County.

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