Are you knowlegeable on the BUY side of a sheriff auction? Am preapproved but what if I can't get someone in to do an appraisal?

Asked by Summerfun, Columbus, OH Tue May 7, 2013

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Summerfun, Home Seller, Columbus, OH
Tue May 7, 2013
Hi, am using this box to add more info, as there was very little space above. I have done a title search and the only lien is the first mortgage. The owner has already declared bankrupcy in 2007, so I think the house will really go to auction. Auction is less than two weeks away and she is still paying to have the lawn mowed (saw the lawn service) so I think she will stay in the house until the bitter end/have to plan for it. I have knocked on her door numerous times and send her a nice letter asking her to let me see the house /offered her a gift card of $100. I would love to see the inside before bidding, but am prepared to bid without. My main concern is getting financing in the 30 days..what if she won't let them in to appraise? I consulted a real estate attorney who was useless, I knew more than he did. He told me 1. that is a house goes through the courts you are guaranteed a clear title and 2. That they have a viewing day on these homes before the auction. I am trying to find another attorney but really need advice. If you have bought a sheriff sale home in franklin county and financed it or are just close to the process and can offer advice, I would really appreciate it.
1 vote
I'm wondering how this worked out for you. I find myself in a similar situation.
Flag Wed Sep 11, 2013
James Deskins, Agent, Worthington, OH
Tue May 7, 2013
Your offer on a a sheriff's sale is non-contingent. No appraisal, no financing, no inspection contingencies. If you win and don't close you loose your deposit which you put up day of bidding of you win the bid. If you win seller has 30? days to make the loan right and can keep the property if she/he does.

Sounds like you just have to have this particular house. Why? What's so special about it?
0 votes
James-thanks so much for the's mostly the location.. undervalued even if it's trashed inside. I am not sure you are correct about the no appraisals/no loans though, as I know several people who have obtained mortgages on sheriff sales in franklin county..what am I missing? Totally understand the 30 day deadline..They want their money in 30 days or I lose deposit.
Flag Tue May 7, 2013
Summerfun, Home Seller, Columbus, OH
Tue May 7, 2013
thanks much toby.. i did already see it..some good basic info.. just having a hard time with the more "meaty" questions listed above. Again, thanks!
0 votes
Toby Briley, Agent, Pickerington, OH
Tue May 7, 2013

I hope this helps you. Please see the reference below regarding Sheriff Sales in Franklin County. It was found at:…

Mortgage Foreclosure:

When a property owner defaults on their mortgage, the lender files a complaint in the Franklin County Court of Common Pleas. The court then sets a trial date and notifies the owner and all lien holders of the property. These would include any other mortgage holders as well as anyone holding a lien on the property such as a contractor who was not paid.

After a pre-determined amount of time the common pleas judge will issue an order for foreclosure and force the property to be sold at auction. The lender's attorney will now file a praecipe with the court. This is a command that basically directs the sheriff to appraise, advertise and auction the property.

The Franklin County Sheriff's Department will then order appraisals from (3) independent and separate appraisers in order to determine the property's value. The appraisers are not granted access to the inside of the house so the value is based upon an exterior only inspection.

Following the appraisals the sale date for the property will be scheduled. The property will then be advertised for (3) separate weeks in the daily reporter.

After the property has been advertised for 3 weeks, the department can proceed to auction the property off. As mentioned above, these auctions happen every Friday morning at 9:00am in the first floor press room at 373 S High St. Bidding starts at 2/3 of the appraised value of the property. Anyone can bid on the properties. Pre-registration is not required. The sale is then made to the highest bidder. If no one bids the minimum starting bid, the property will not be sold that day. Instead it will be re-evaluated and offered in a future auction at a lower appraised value. If the house is successfully sold, the winner will be required to pay the specified deposit. Usually this is 10% of the sale price but it can be as high as 100%. Following the sale the buyer has 30 days to pay off the remaining balance still due. It is important to note that if the buyer does not pay the property in full within 30 days, the buyer loses their deposit and the property is sold again.
0 votes
Summerfun, Home Seller, Columbus, OH
Tue May 7, 2013
ps, one more bit of info. my friend has bought three in franklin county, ohio (columbus..where i live) and obtained financing on all. one took 40 days, the other two were less than 30, so I think financing is not out of the question..
0 votes
Ron Thomas, Agent, Fresno, CA
Tue May 7, 2013
You might want to check with the County on that Sheriff's Action:
You might find that you cannot buy there with a LOAN; but only CASH.
You might also find that you cannot do an Appraisal; you may not have ACCESS to Inspect it.
Good luck and may God bless
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