48 Cummings Ave, Geneva, OH 44041

Basic Terms: *This is a Foreclosure Auction ordered by a County Common Pleas Judge. The foreclosure process clears all liens and encumbrances on the subject property. *The property sells with a minimum opening bid of 2/3 of the appraised value. *In the case of a tax-lien foreclosure, the opening bid is the aggregate of the tax certificate, interest, court costs and current tax proration. *The required deposits are as follows: $2,000 for properties appraised for $10,000 or less. $5,000 for properties appraised between $10,000 and $200,000. $10,000 for properties appraised over $200,000. *If the property is being sold at a physical location, the buyer will immediately write a check for the required deposit. If there are no bids at an on-site auction there will be a second auction between 7-30 days later. The second auction will be offered regardless of price. *If the property is being sold Online, the successful bidder must wire or directly deposit the required amount into the Chase Bank trust account for Ohio Sheriff Sales by 5 PM the day of auction. Credit cards may also be taken for the deposit along with a 3% processing fee. *The real estate is sold As-Is with no contingencies. All inspections (if available) must be done prior to Auction. *Close within 30 days of court confirmation. *No contract is signed after the auction. A one-page buyer information form is the only document that is required by the court. *A 10% buyer's premium will be added to the high bid to obtain the final selling price. *Buyer pays all closing costs. *Private Selling Officer deed given at closing with no liens or back taxes. *The purchaser shall be responsible for those costs, allowances, and taxes that the proceeds of the sale are insufficient to cover. *Bid increment for Online Bidding is $100. *When you place a bid, you can place a "Max Bid" and the software will bid for you in $100 increments. You will be notified by email if you are out-bid. *Bid Extensions: If a bid is received within the last 5 minutes of the Auction end time, bidding will extend for a 5-minute period of time. Bid extensions continue until all bidding is exhausted. *Default: Be aware, if you are unable to close within 30 days of court confirmation, your deposit is non-refundable, and you could be liable for other costs and possibly be found in contempt of court.