EATON — Beginning this fall, the Preble County Sheriff’s Office will conduct the sale of all real estate subject to foreclosure on the “Official Public Sheriff’s Sale Website” which is operated by Realauction, based on a contract with the Ohio Department of Administrative Services.
Sheriff Mike Simpson last week shared the information regarding the new process.
“The legislature changed the law in Ohio on how sheriff sales that are a result of foreclosures are done, and they are required now to be done on a website,” Simpson said. “A lot of counties are doing it right now. Every county in Ohio has to be online, I think, by around Oct. 1. So we are letting everyone know, letting the bugs get worked out before we jump on.”
The process and procedures under which these sales will be completed are detailed at the Realauction website https://preble.sheriffsaleauction.ohio.gov. All prospective bidders should familiarize themselves with the new process, according to the information provided by Simpson.
In general, the following key points are noted:
All person(s) who want to bid on a property offered by the Preble County Sheriff’s Office must register with Realauction. Registration will include the completion of a purchaser information form.
Properties will be open for bid, at least seven days immediately prior to the date of sale. This is generally known as a proxy bid.
Each Friday at 9 a.m. Eastern Time, the online auction will begin. An auction will be conducted for each individual property; however, only one property will be sold at a time. After a property is sold, the next scheduled property sale will begin.
To be a qualified participant, bidders must submit a deposit to Realauction based on the total deposit requirement ($2,000/$5,000/$10,000 set by law) for all properties on which the bidder wishes to bid by the predefined deadlines. The only acceptable deposit type is bank ACH; no cash deposits will be accepted. All ACH deposits must be initiated by 4 p.m. five business days before the auction sale date.
It is the responsibility of the bidder to plan and allow enough time for their bidding deposits to be received and processed within the time frames described above.
Plaintiff/Judgment Creditors – A Judgment Creditor is defined as the creditors (plaintiff or defendants) who are awarded judgment in the foreclosure case. Judgment Creditors are required to register for a username and password and fill in all appropriate fields. Per Ohio Revised Code 2329.211, in every action of Judicial Sale or Execution of residential property, if the Judgment Creditor is the purchaser, they shall not be required to make a deposit on the sale. However, judgment creditors are required to submit the bidding style choice (pre-sale manage bid or live bid) and a copy of the court order stating they are the Judgment Creditor on the case they are bidding to Realauction Customer Service ([email protected]) at least one business day prior to the sale date. This submission can be done via email or fax. The submission must include the bidder number and user account contact’s first and last name in the submission.
For more information and training on requirements to participate in the online auctions as Plaintiff/Judgment Creditor, call 877-361-7325 ext. 245 or 246.
According to Sheriff Simpson, tax sales will continue to be sold at the Preble County Courthouse, 101 E. Main St., Eaton, until further notice.
Realauction will conduct webinar training classes, according to officials. Training classes will be held via the internet on a regular schedule. These webinar classes generally last 90 minutes and specifically cover the use of the software. Attendance is by registration only.
For additional information or to register for a webinar, contact Realauction Customer Service at 954-734-7401, toll free at 877-361-7325, or via email at [email protected].