Sheriff’s sales are generally a way for the lending institution to get possession of a property on mortgage foreclosure so the property can be resold. The lending institution can bid their judgment in addition to interest, taxes and attorney fees without putting up the cash. The plaintiff’s bid will also include the cost of the sale. Addresses of properties that are up for sale are available in the Mortgage Foreclosure Book in the Civil office, Room 100 Courthouse, posted on the Public Notice Board in the Allen County Courthouse, and published in the local newspaper.
- All sales take place in Room 100 in the Allen County Court House.
- SALES ARE SCHEDULED FOR 2:00 PM: HOWEVER, MULTIPLE PROPERTY SALES MAY BE SCHEDULED AT AN EARLIER TIME. Sales are generally held Tuesday through Thursday, except holidays, or days that banks are closed. OTHER THAN BIDDING, ALL CONVERSATIONS WILL CEASE DURING THE SALE. CELL PHONES ARE NOT ALLOWED IN THE ALLEN COUNTY COURTHOUSE AND ANY OTHER ELECTRONIC DEVICES MUST BE TURNED OFF DURING THE SALE. Be advised that sales can also be cancelled for various reasons.
- Bidding is open, progressive bidding. The successful bidder must have CASH OR CASHIERS CHECK ONLY, MADE PAYABLE TO “SHERIFF OF ALLEN COUNTY”, for the amount of their highest bid at the close of bidding. THERE WILL BE NO EXCEPTIONS TO THIS RULE. All bids will include cost of the sale, including any outstanding taxes or fees, all taxes must be paid prior to the sale, which have been certified to the Treasurer of Allen County for collection. ALL BIDDERS MUST HAVE THEIR FUNDS IN HAND PRIOR TO THE SALE AND MAY BE ASKED TO SHOW PROOF OF THIS TO THE STAFF PRIOR TO THE SALE.
- An ORIGINAL, and ONE COPY, (two total) of a Sheriff’s Deed and Return must be prepared by the successful bidder’s attorney and delivered to our office WITHIN TWO WORKING DAYS for processing. These papers will be available after 1:00 p.m. on the business day following the day they are received.
- Any money over the amount of the bid and sale costs will be available after 1:00 p.m. on the business day following the sale date.
Properties sold at Sheriff’s Sale sometimes contain problems that are not found in normal real estate sales.
- Inferior liens disappear and superior liens stay with the property. For instance, if a second mortgage should foreclose, the first mortgage will remain with the property. If the first mortgage should foreclose, the second mortgage does not remain.
- RESEARCHING THE PROPERTY FOR LIENS IS YOUR RESPONSIBILITY. This may include visits to the offices of the Allen County Treasurer, Recorder, Township Assessor, and the Auditor, or you may hire a Title Company.
- Many times the property cannot be appraised and may be occupied by people who no longer care for the property. No provisions can be made to view the property. Generally you cannot get a loan using the property for collateral at a Sheriff’s Sale.