MORTGAGE FORECLOSURE SALES:
Thank you for purchasing property at a Sheriff’s Sale. Please read the following instructions.
1. You have received a Tax Verification Form along with your deposit receipt.
2. Your deposit receipt is the ONLY paperwork you will initially receive from our office. This is to serve as your “purchase agreement”. This receipt should have the amount of your deposit, the property address that was purchased and the purchase price written on it. We are unable to provide any other documentation.
3. The Tax Verification Form will need to be taken to the Summit County Fiscal Office, Treasurer’s Division located at 175 S. Main Street, 3rd Floor, Akron (aka The Ohio Building) 330-643-2600. They can provide the payoff amount for the Real Estate Taxes that are due. It is YOUR responsibility, as the buyer, to pay these taxes and bring to the Summit County Sheriff’s Office your completed, original Verification Form. Upon our receipt of the Verification Form, we will then subtract the Tax amount from your Purchase Price. This can be done any day after the sale.
NOTE: If the Sheriff’s Office does not have the Verification Form by the time the Deed is ready, the Deed CANNOT BE RECORDED OR RELEASED.
4. The balance of your purchase price is due within 30 (calendar) days from the filing of the court order “Confirmation of Sale”. The first 8 days after the sale will be without interest. Starting the 9th day after the sale, you will be charged a 10 % annual interest rate. This interest amount will be calculated to a daily rate.
If you have NOT paid the balance within the required 30 days, you could be held in Contempt of Court by the Plaintiff, according to the Court Rules.
5. The paperwork prepared by the Plaintiff’s attorney and filed with the Clerk’s Office provides the Summit County Sheriff’s Office with the instructions to prepare the deed for you. This is called the “Confirmation of Sale” and should be filed within 30 days after the date of sale by the Plaintiff’s attorney. A deed cannot be prepared UNTIL this document is filed.
6. The deed will be prepared and recorded within l4 business days by the Summit County Sheriff’s Office after :
a. The monies have been paid to the Sheriff’s Civil Office,
b. The taxes are paid & the tax verification form has been received at the Sheriff’s Office,
c. A filed copy of the confirmation is received in the Sheriff’s Office.
7. If the occupant has not moved out by the time the deed has been recorded, a "Writ of Possession" can be filed with the Clerk of Courts by the new owner (at the new owner’s expense). This begins the process which gives the Sheriff's Office the authority to process a 10 day notice for the occupant to leave. The “Writ of Possession” has to be served to the occupant or posted on the property. (Requesting the notice to be posted allows the Sheriff to leave or post the notice at the residence without obtaining a signature.) We check again after 10 days after service or posting and if they have not left, the new owner can request an eviction date to be scheduled. The Sheriff's Office will set a mutually agreeable eviction date with the new owner and it is that new owner's responsibility to set up the movers, storage for the items, and the locksmith at the new owner's expense. Property items cannot be put out on the curb. The defendant then has to make arrangements with the new owner to retrieve their items out of storage.
8. Also review the Rules of the Court of the General Division.
