- Where are the Sheriff sales held?
Sheriff Sales are held on the main floor of the Lake County Courthouse every Monday at 10:00 a.m. If a holiday falls on a Monday, the sales will be conducted on Tuesday.
- How are the sales executed?
Sales are performed as public auctions.
All bidding is done orally for all to hear. Bidding begins at 2/3 of the appraised property value. Any foreclosures filed by the County Treasurer for collection of delinquent real estate taxes will be a set minimum bid per Court Order plus Court costs.
- How can I find out what real properties are for sale?
There are several options. A book of properties is available at our front counter for people to come in and review. Each week, in Friday’s News-Herald, properties are listed in the Classified Section. The properties are also listed on our website at: www.lakecountyohio.gov/sheriff. These publications contain all pertinent information needed for any further research.
- How can I found out more about the property?
The Lake County Auditor’s Office is your best source of information. Plat maps, that provide the physical lot description, are available. Property record cards are also available. These cards have information regarding land value, number of rooms and type of utilities. The Auditor’s Office can be contacted at (440) 350-2528. This information is also available through the Auditor’s website: https://www.lakecountyohio.gov/auditor.
- What about the property taxes?
The Treasurer’s Office will calculate any arrearages and estimated proration of property taxes approximately ninety (90) days out from the date of Sheriff’s Sale. This figure will be paid out of the proceeds of the Sheriff’s Sale. The Lake County Treasurer’s Office can be contacted at (440) 350-2516 or access their website at: https://www.lakecountyohio.gov/treasurer.
- Is there a way to find out if there are additional outstanding liens on a real property?
Liens and deeds can be researched at the Lake County Recorder’s Office at (440) 350- 2510. Their website address is: https://www.lakecountyohio.gov/recorder. You may find that the name on the deed differs from the name on the lien. The name on the deed will be the owner of the property. You may check the Court records at the Lake County Clerk of Court’s office located in the Lake County Courthouse Annex. Or you may check the Common Pleas docket at https://www.lakecountyohio.gov, click on County Departments and then click on Clerk of Courts. An independent title search company may be used at the buyer’s discretion.
- What happens next should I be the successful bidder?
At the time of the sale, your down payment must be paid. The Sheriff will require a deposit as follows: a) If the appraised value of the residential property is less than or equal to Ten Thousand Dollars ($10,000.00), the deposit shall be Two Thousand Dollars ($2,000.00). b) If the appraised value of the residential property is greater than Ten Thousand Dollars ($10,000.00), but less than or equal to Two Hundred Thousand Dollars ($200,000.00), the deposit shall be Five Thousand Dollars ($5,000.00). c) If the appraised value of the residential property is greater than Two Hundred Thousand Dollars ($200,000.00), the deposit shall be Ten Thousand Dollars ($10,000.00). The deposit will be made when the bid is accepted and paid by either CASH, CERTIFIED BANK CHECK or MONEY ORDER. CERTIFIED BANK CHECKS AND MONEY ORDERS should be made payable to the Lake County Sheriff’s Office or yourself, in which case do not endorse. The endorsement must take place at the time of sale in front of a Sheriff’s Office personnel. All purchasers will be required to complete a Purchaser Information Form at the time of the sale and show proper identification. The amount of purchase price and your down payment will also be documented and receipted to you. NOTE: The purchaser has no rights to the property until the sale has been confirmed. Usually, 30 to 90 days after the auction date, a “Confirmation of Sale” is received and you are contacted by the Sheriff’s Office Clerk.
- What happens if my deposited check is more than the required down payment?
When this happens, the check is accepted and the balance of the check is applied to the balance of the purchase price.
- When do I pay the rest of the money?
The purchaser will pay the balance of the purchase price within thirty (30) days from the date you are contacted by the Sheriff’s Office from the Confirmation of Sale.
- When do I receive the deed?
Upon bringing in the final balance it will take approximately 5 to 10 business days for the property to be conveyed and recorded. Once the original deed is received from the Lake County Recorder’s Office, it will be mailed to the purchaser.
- How can I receive updates about the progress of the case?
All actions on a foreclosure property are docketed with the Lake County Clerk of Courts, which is located in the Lake County Courthouse Annex, 25 North Park Place in Painesville. The telephone number is (440) 350-2657 or (440) 918-8657. You may access the docket on the Internet at https://www.lakecountyohio.gov, click on County Departments, then click on Clerk of Courts. Our office may also be contacted for assistance at (440) 350-5519.
