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Foreclosure purchase
(Warren County, OH)

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Top 200 Contributor
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Recycle posted on 2 Dec 2009 06:48 AM

I've been tracking a house to purchase in Warren County, Ohio that still has not been given an auction date.  In looking at the Warren County Common Pleas Court website and comparing this house to others there does not seem to be a common or consistent path to the Shariff's auction.  How can I get a better sense of when this house may actually go to auction?  How can I best prepare for placing the winning bid and win the bank typically try to buy it at auction<

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Top 10 Contributor
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298 Posts
darenb replied on 2 Dec 2009 10:33 AM

Under normal circumstances the Ohio foreclosure process can take about 200 days, from the time the property enters foreclosure to when it is sold at the sheriff's sale. See http://www.realtytrac.com/foreclosure-laws/Ohio-Foreclosure-Laws.asp.

But we are not in normal circumstances and are seeing a lot of delays in the foreclosure process just because of the sheer volume of foreclosures out there and the loan modification and foreclosure prevention efforts pushed . A law passed in Ohio last year allows the court at any stage in the foreclosure action to require the borrower and lender to enter mediation, which can delay the foreclosure process even further.

To get more information about when this property will go to auction, you may be able to call the attorney involved (under the Trustee section on RealtyTrac). Be forewarned the attorney does not function like a real estate agent and will not be able to answer many questions about the property, but they should be able to at least confirm that it is still in foreclosure and possibly provide an auction date.

 

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Top 50 Contributor
3 Posts
arrowrod replied on 3 Dec 2009 02:18 PM

???

The foreclosure is advertised in the local newspaper.  

Usually, the mortgage holder will bid whatever the mortgage is.  

Interestingly, where I am looking (Paradise, California) nearly every auction is extended every month to the next month.  I guess this is the extend and pretend move.

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