Inside sheriff salesWritten by Myndi Milliken | | email@example.com
Properties sold through auction at the Lucas County Sheriff sales can be a great deal — or too much to bother, depending on the savvy of the buyer and the circumstances of the sale.
”There’s usually a pretty good turnout to the sales, about 50 or so people on average,” said Deputy Patricia Presser.
Properties are sold by auction several times a month, either by mortgage foreclosure or by tax foreclosure. Some of the properties go for a steal, while others carry burdensome circumstances, such as tenants who have yet to leave.
”If [a home] is occupied, you may run into a problem,” Presser said. ”Sometimes the tenants don’t even know the home is going up for sale.”
Because tenants may still occupy the property, auction rules and Ohio Revised Code stipulates, ”physically removing the property of the occupants without a court order, even after receiving the deed, may result in civil or criminal liability.”
Sales are held at 10 a.m. in the lobby of the Lucas County Court House, 700 Adams St., when scheduled. Currently there are auctions scheduled for Dec. 7 and Dec. 14.
Bidding for mortgage foreclosures start at two-thirds of the appraised value of the property, unless there is a court-ordered starting bid. Bidding on tax foreclosure properties could be two-thirds of the appraised value of the property or properties may be sold for back taxes and costs.
If you are the successful bidder, a 10 percent deposit is due immediately. There are additional fees that must be paid at the time of the sale.
The debtor has the right of redemption of the property until the Confirmation of Sale is signed by the Judge and filed by the Court. The purchaser has 30 days to bring in the balance of the money due and pick up the deed. Properties are sold as-is and in Lucas County, appraisals may not include interior inspections.
On the Sheriff’s Web site, www.co.lucas.oh.us/sheriff, it advises potential buyers to check with the City of Toledo to see if the property is on the demolition list and to check with the utility departments to be sure there are no liens.
The Lucas County Sheriff’s Office also holds occasional auctions of abandoned vehicles. Dates and stock can be viewed at www.govdeals.com.