Foreclosure Homes in
Ohio

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 2 hours following the end of the sale. The following table sets out the sale deposit amounts:

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 minute 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.