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FAQs about buying foreclosures in Ohio To buy a foreclosure in Ohio, you need to either contact the owner and purchase the property before auction or submit a winning bid at the foreclosure auction. You can do this by registering to bid on your county sheriff's website dedicated to foreclosure sales.
Our Online Process We can sell your items from your place or ours. We catalogue and photograph the items and place them on this site for the bidding process. We handle all communications with the buyers and collect proceeds which are then paid to you the seller (less commissions and applicable fees).
What happens to liens on the property? Liens are "Marshaled" (placed in order and paid in order), and paid from the sale proceeds. A "Deficiency Judgment" is granted to the Plaintiff (Lien holder) against the Defendant (Homeowner) if enough money is not generated at the sale. The liens are then canceled.
A new auctioneer law (HB 321) reduces barriers to entry for the auctioneer profession in the State of Ohio. This bill was signed by Governor DeWine on June 14, 2022 and will go into effect on September 13. requires online auctions in Ohio to be licensed as an auctioneer or auction firm with few exceptions.
Method #1: Bankruptcy The only guaranteed way of stopping a sheriff's sale in Ohio is to file bankruptcy.
Ohio Sheriff Sales is a division of Ohio Real Estate Auctions. All auctions on this site are foreclosures and judicial sales. It is our goal to change the way a property goes through the foreclosure process.
In this method of auction, bidders compete for "the right to choose first" from a pool of similar properties. The high bidder may choose one, some or all of the "like properties" offered. If the high bidder chooses multiple properties, then the high bid is multiplied by the number of properties the high bidder chose.
This means that the property will be sold at a public auction. Before the auction is held, the sheriff will have your property appraised to determine its value. At the auction, your home will be sold to the highest bidder, but will not be sold for less than 2/3 of its appraised value.