Foreclosure Sales in Ohio

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FAQs

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There are two types of foreclosure sales in Ohio, one that is conducted live at the courthouse by the sheriff and one that is conducted online by a court appointed Private Selling Officer (PSO). There is no difference in the properties that are in these auctions. All are at the same stage in the foreclosure process. In both sales, the property is either sold to a third-party bidder or reverts to the beneficiary (Bank or Lender) as a Real Estate Owned (REO) or Bank Owned property. Properties auctioned at both of these can be found on Auction.com. If you have more questions about the process of the PSO Online Sale, please click on the alternative tab above.

Please visit the applicable County website or contact the County directly to obtain information regarding Sheriff conducted live foreclosure sales



Be sure to verify all information relating to the foreclosure sales with the appropriate County. The following Foreclosure Sale FAQs were not developed in coordination with the any County. These FAQs are being provided for educational or informational purposes only; they are not intended to be a substitute for professional advice, whether legal, real estate or otherwise. The information provided is subject to change. Please ensure to utilize the county specific links and contact information provided for the most current, up-to-date details regarding foreclosure sales. It is recommended that prospective bidders seek professional advice and carefully review the County’s Terms of Sale and contact the County to fully understand the foreclosure process and foreclosure sales.

There are two types of foreclosures sales in Ohio, properties auctioned at both of these can be found on Auction.com. The traditional sale is conducted by the county sheriff as a live public sale open to bidders who attend in person. The modern foreclosure sale is conducted by a Private Selling Officer (PSO) online at Auction.com over a seven day period and is open to everyone who registers and participates online. In both sales, the property is either sold to a third-party bidder or reverts to the beneficiary (Bank or Lender) as a Real Estate Owned (REO) or Bank Owned property. Please contact the appropriate County Sheriff for local bidding rules at the live sales and review in detail as they may vary. Bidding terms and conditions in the PSO sales on Auction.com are posted on every property page.

The time and place of live Sheriff conducted foreclosure sales are county specific and vary for each county in Ohio. Please visit the appropriate county website or contact the county directly for specific information. Private Selling Officer (PSO) sales with online bidding at Auction.com combine properties from multiple counties with bids accepted over a 7 day period ensuring all interested investors may participate in the foreclosure sale.

For the Sheriff conducted sale, online bidding is not available and requires attendance in person with certified funds in possession. By design, Private Selling Officer (PSO) sales feature online bidding at Auction.com over a seven day bidding period.

At the live Sheriff conducted sale, a government issued identification and certified funds are required to participate in the sale, usually a cashier’s check in the amount of $2,000, $5,000 or $10,000 dependent on the appraisal amount of the property posted prior to sale. Properties with values less than $10,000 require a $2,000 deposit, those valued $10,000 to $200,000 require a $5,000 deposit and properties valued over $200,000 require a $10,000 deposit at the time of sale. Personal checks, company checks, letters of credit or credit cards are typically not accepted. Visit the appropriate county website or contact the county directly for specific information. In online Private Selling Officer sales at Auction.com, a similar deposit is required via bank wire 24 hours following the end of the online auction.

At the live Sheriff conducted sale, the winning bidder must pay the required deposit following the conclusion of the auction. If the deposit is not made immediately at the time of sale, you risk ejection from the sale and potential arrest. In online foreclosure sales conducted by a Private Selling Officer (PSO) at Auction.com, your sale deposit may be wired within 24 hours to the designated title company. In both types of sales, the remaining purchase amount is due within 30 days after the court confirms the foreclosure sale.

A buyer’s premium is a fee calculated as a percentage of the winning bid amount. The buyer’s premium is added to the winning bid amount to establish the total purchase price required to be paid by the buyer. There is no buyer’s premium at the Sheriff conducted live sale and rarely at Private Selling Officer (PSO) conducted sales on Auction.com. The buyer’s premium, if any, is clearly displayed on each property page on Auction.com.

The sale of a property may be cancelled or postponed for many reasons. There is no guarantee that a particular property will actually be brought to sale.

Typically no. Many properties will be sold “as is, where is,” with all faults and limitations. All prospective bidders are encouraged to conduct their own due diligence and investigate all matters relating to the properties that they are interested in purchasing. It is recommended that you seek independent advice to perform your own due diligence and to fully understand the foreclosure process and foreclosure sales in general prior to the sale. Doing your homework pays off! Most properties have information provided by Auction.com on the property detail pages. It is your responsibility to do a title search and seek any needed advice from counsel prior to the sale.

No, as these properties can be occupied, prospective bidders may not trespass on the property, disturb the occupants or contact the borrowers to obtain information about the property. However, detailed property information for most properties is available on the property detail page on Auction.com.

Yes, the winning bidder will receive a mortgage deed from the county recorder after the sale is confirmed by the court and final payment is tendered. The timeline from recording to receipt of deed varies from county to county but is expedited when purchasing in online foreclosure sales conducted by a Private Selling Officer as a professional title company conducts the closing.

Following the foreclosure sale, the court must confirm the sale which may take between 30 to 60 days depending on the county. The time between the sale and the confirmation is called the 'Redemption Period.' Important: While it rarely occurs, the homeowner has the right to buy back their home during the redemption period. You are not able to evict or collect rents during the redemption period. Please consult your real estate counsel or the County for specific details regarding Ohio’s redemption laws.

There are two types of foreclosure sales in Ohio, one that is conducted live at the courthouse by the sheriff and one that is conducted online by a court appointed Private Selling Officer (PSO). There is no difference in the properties that are in these auctions. All are at the same stage in the foreclosure process. In both sales, the property is either sold to a third-party bidder or reverts to the beneficiary (Bank or Lender) as a Real Estate Owned (REO) or Bank Owned property. Properties auctioned at both of these can be found on Auction.com. If you have more questions about the process of the live sale, please click on the alternative tab above.

A foreclosure sale is a court approved auction of a property at the request of the mortgagor (also known as the plaintiff) to remedy a defaulted mortgage. This sale is historically conducted by the Sheriff in the county where the property is located at the request of the court. However, new legislation in Ohio allows the court to authorize a private selling officer (PSO) to conduct the sale either physically or online. Today, Foreclosure sales are conducted both by the Sheriffs and private selling officers.

Online foreclosure sale auctions can be done in all counties statewide. In 2016, the Ohio legislature made it possible for the courts to authorize a private selling officer (PSO) to conduct the foreclosure sale either at a physical location or online.

A private selling officer (PSO) is an Ohio resident licensed as both an Ohio auctioneer and a real estate broker or salesperson who is eligible to conduct foreclosure sales of OH properties when authorized by the court. PSO online sales are being conducted on the Auction.com website.

The best place to find OH properties going to foreclosure sale is right here on Auction.com, the nation's largest online real estate marketplace. Simply enter "Ohio" or specify any county of your choosing in the search bar. When your search results are displayed, use the pull-down menu and select "Foreclosure sale" to view all properties in upcoming foreclosure sales that meet your search criteria.

Auction.com promotes properties in foreclosure sales conducted by the Sheriff. In addition, we promote online private selling officer (PSO) sales for properties in foreclosure sales conducted online at Auction.com. The easiest way to distinguish between the two is to look at the property page where a property will be designated as either an online auction or a live auction. Live auctions show the address where the sale will take place.

Registration is required for each property you wish to bid on in an Auction.com online foreclosure sale. This simple process only requires a free Auction.com account and a credit or debit card to place a bid deposit hold (usually $100). Once these steps are taken, you will be authorized to bid and may place a bid once the auction is opened.

There is a big difference! The bid deposit hold is a small hold on a credit card that enables you to complete registration and place a bid on a property. This is done to help preserve the integrity of the auction by ensuring only serious bidders participate in the auction. Every bid in the auction is an irrevocable offer and the winning bidder is required by Ohio law to complete the purchase of the property.

The sale deposit is an amount set by statute required by law to be paid by the winning bidder. All sale deposits must be wired by the winning bidder to the title company indicated by the PSO and Auction.com within 24 hours following the end of the sale. The following table sets out the sale deposit amounts:


Appraised Value deposit
$ 2,000
$10,001 - $200,000 $ 5,000
>/=$200,001 $ 10,000


Details on the title company and wiring instructions will be sent to the winning bidder immediately following the auction. Remember, this is a court approved sale and failure to timely pay the sale deposit may result in the property being re-auctioned and the winning bidder may be held in contempt of court.

The deposit is required to help ensure that the auction has serious bidders. The deposit is actually a hold on your credit or debit card. Unlike a charge, a hold authorizes us to confirm that your account is valid. Following the auction, we will instruct your credit or debit card issuer to remove the hold. The hold will be removed regardless of the outcome of the auction.

A Buyer's Premium is a fee calculated as a percentage of the winning bid amount. The Buyer’s Premium is added to the winning bid amount to establish the total purchase price required to be paid by the buyer. Not all property sales require a buyer’s premium. In fact, the vast majority of Ohio foreclosure sales being conducted online at Auction.com will have a 0% buyer’s premium. The buyer's premium, if any, is clearly displayed on each property page on Auction.com.

Yes. However, in most cases there is no buyer’s premium for Ohio foreclosure sales being conducted online at Auction.com. If you are the winning bidder, and that property does have a buyer’s premium, the buyer's premium is added to your winning bid amount to determine the total purchase price. The total purchase price will be the amount due from you in order to purchase the property.

Since this is just a hold on your available limit, there isn't any way to release the hold until the day following the completion of the auction. It is important to note that we never charge your card, the hold is used to help ensure that all bidders are legitimate.

When a property is postponed, the new date and time that the sale will take place will be posted on the property page. By registering for a property, it is saved to your dashboard and automatically opts you in for notifications on that property's status. Unless you opt out from receiving these notifications, you will also be notified by email of postponement information. If you do wish to opt out from receiving status notifications on any property you are tracking, simply deselect "alerts" on each property from within your dashboard.

No, the credit card hold is not a charge to your credit card and is only required to authorize bidding.

The bidding period is a minimum of 7 days, but can be longer. As the auction clock is ending, any bids placed in the final seconds or minutes will extend the sale allowing all interested bidders to place their best and final bids until no further bids are placed.

Yes. As the auction clock is ending, any bids placed in the final seconds or minutes will extend the sale allowing all interested bidders to place their best and final bids until no further bids are placed.

In most cases, you were not the highest bidder. From time to time, a bidder will place a bid in an auction and believe they are currently the high bidder. However, if another bidder placed that exact same bid prior to your bid that bidder would be the winning bidder. The property page where bidding takes place will clearly state if you are the current high bidder. We encourage all bidders to watch each property they are bidding on as the clock runs out as many investors place bids in the final minutes of the auction. Any bid in the final minutes or seconds will extend the time in the auction so all bidders may place their best and final bids. The auction will end when no bids are placed as the clock runs out.

Yes. As an individual or LLC located outside of the state of Ohio purchasing an Ohio foreclosure property online, you will be required to provide specific information as set forth in the Purchaser Information Form including specific contact information and entity information. The Purchaser Information Form will be emailed immediately to you if you are the winning bidder.

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