INFORMATION SHEET / PRE-SALE

MORTGAGE FORECLOSURE SALES:

Please read the following information.  Properties are purchased “sight unseen, as is” and all sales are

“BUYER BEWARE”.

1.                    Prospective purchasers can only view the property from the public roadway.  The interior of the property cannot be viewed.  No access is available; many homes are still occupied by the defendant(s).

2.                   The Sheriff’s Office does not know the conditions of the titles.  All buyers should be advised that all liens and mortgages not resolved by the sale monies of each property are the responsibility of the buyer.  Research should be conducted through the Clerk of Courts File Room to ascertain the liens, County Fiscal Office for amount of taxes that are due, and Federal Court for federal liens that are pending.  Meth lab locations are reported to the local Health Departments and when advised by the investigating law enforcement agency, they will be noted under the case details on our website.  Contact the local Health Departments for further information on these properties.

3.                   All sales are listed on our website as they are set for sale.  Please review these lists for the properties that are of interest.  The sale list is automatically updated with any cancellation orders that are received at the Sheriff’s Office.

4.                   Purchasers who obtain property from Sheriff’s Sales are obligated to purchase the property or forfeit their deposit and possible legal action may also be incurred against them.

5.                   Deposits are pre-set at 5% of the appraisal value, with a minimum deposit of $750.00 and maximum of $10,000.00.  ALL deposits must be tendered in the form of cash, money order, certified check or cashier’s check ONLY.  This applies to ALL bidders, including plaintiff purchasers.

6.                   Bidders at the sale are required to have the minimum deposit amount immediately at the time they are the highest bidder.  There is not time to go to the bank or obtain money from any outside sources.  If the highest bidder fails to have the money available, the property will be re-introduced immediately for sale to the public.

7.                   The highest bidder will provide the Sheriff’s Office with the name(s) (as it is to appear on the deed), current address, and a phone number for the buyer.  A Purchaser Information Form is now required from each buyer.  The Sheriff’s Office will complete this form for the individual buyer and it will be filed with the Clerk of Courts on the day of the sale.  Once this form is submitted to the court, changes to the deed may only be made with a Court Order.  (For a Business, a contact name is also required.) The Purchaser Information Form can be found on the Sheriff’s Website at www.co.summit.oh.us/sheriff and can be filled out prior to the sale.

8.                   The balance of the sale price is due and payable within 30 days from the date of the filing of the court order “Confirmation of Sale”.  THERE ARE NO EXTENSIONS.  The first 8 (eight) days after the sale date are without interest.  Interest begins on the 9th (ninth) day after the sale at a rate of 10% per year, calculated daily, on the balance due.

9.                   Buyers are responsible for paying the taxes that are due on each property.  The taxes are paid directly to the County Fiscal Office and they will complete a “Tax Verification Form” and stamp it with a red seal.  When that original form is provided to the Sheriff’s Office, that tax amount will be subtracted from the balance of the purchase price due.

10.                 Properties not paid in full, within the required 30 days after the filing of Confirmation of Sale, are subject to a contempt of court filing.

11.                  The “Confirmation of Sale” is the responsibility of the plaintiff’s attorney and should be filed within 30 days from the date of sale.  After it has been completed and filed in the Clerk of Courts, it is the plaintiff’s attorney’s responsibility to provide the Sheriff’s Office with a filed copy of the confirmation.  This is to instruct the Sheriff’s Office to prepare and record the deed for the new owner. 

The deed will be prepared and recorded within 14 business days by the Summit County Sheriff’s Office once we have received the following:

a.                    The monies have been paid in full to the Sheriff’s Office, Civil Division

b.                    The taxes have been paid & the Tax Verification Form (with Red Seal) has been received at the Sheriff’s Office, Civil Division

c.                    A Filed copy of the Confirmation of Sale has been received at the Sheriff’s Office, Civil Division

We will notify the buyer/new owner as soon as the deed is ready.

12.                 Also review the Rules of the Court of the General Division.