Need help on some questions about a Sheriff Sale

9 Replies

Auction is in 2 days. Drove by the house tonight and there are definitely people living there.

The tax lien is against one LLC. Checked the auditor's website and that Lien holder sold the property to another LLC in January of this year.

First question is if it's reasonable to assume the LLC that bought the property in January knows about the sheriff sale on Wednesday?

Second question is how do I deal with renters when I buy the house? Do I just go through the standard eviction process or does the lease transfer to me as the new owner?

This is in Ohio by the way.

Thanks for any help you can offer or if there are any questions I'm not asking and should be.

If this is a sheriff sale, the foreclosure process should be complete...I find it interesting that the property is occupied. The one thing I have noticed with sheriff sales is that the property owner is oftentimes able to work out a deal with the lender and suspend the sale, sometimes within days of the auction...but I would be curious about the owner being an LLC...which suggests they are astute enough to own real property under a structure that protects from liability.

So, is the property going to be auctioned for sure? Have you been able to contact the sheriff's office and discover the details of the sale...and are you sure the LLC is not a property management firm. Still a lot of questions to ask...

Is it a tax sale? Those a are a bit different than sheriff sales. If it's a tax sale, it makes more sense that the house would be occupied. 

The website was updated today around noon. I will call tomorrow to confirm but as far as I know the sale is still on.

The only thing I can think of is that the owner of the house is just collecting rent on the place and the people actually living there have no idea what's going on. The car in the driveway is a nice car and everything on the outside seems to be in good order.

I'll call the sheriff's office tomorrow and see if I can get anymore details about the house.

Originally posted by @Jessica B. :

Is it a tax sale? Those a are a bit different than sheriff sales. If it's a tax sale, it makes more sense that the house would be occupied. 

 When I look on the auditors site the property is several thousand dollars delinquent on the taxes, which I presume is why it's being sold. I was just confused because the house was sold/(transferred) in January of this could you sell the house if you still own taxes? Something strange is going on.

Check out the Sheriff's website. There should be a link to both the sheriff sales (for the foreclosed properties) and the one who are up just for delinquent taxes. Also make friends with the county clerk and you can find out if there are liens on the property. 

Okay, so you don't even know what kind of sale it is.  Properties transfer all the time without back taxes being paid.  You need to know who is forcing the sale, before you can know which set of laws apply, and understand the implications.  The best money you can spend is to sit down with a local RE attorney who knows the procedures and implications of the various foreclosure/tax lien sales.

My equity line of credit was supposed to close on Monday but was pushed back so it's kind of a moot point at the moment.

As of 30 seconds ago the property is still active on today's auction. I'm half tempted to take some personal time from work and go down to the courthouse and see what's going on with it. I will definitely keep my eye on it.

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