DELINQUENT TAX FORECLOSURE SALES:
Thank you for purchasing property at a Sheriff’s Sale. Please read the following instructions.
1.
You have received a Tax Verification Form along with your deposit receipt.
2.
Your deposit receipt is the ONLY paperwork you will initially receive from our office. This is to serve as your “purchase agreement”. This receipt should have the amount of your deposit, the property address that was purchased and the purchase price written on it. We are unable to provide any other documentation.
3.
The Tax Verification Form will need to be taken to the Summit County Fiscal Office, Treasurer’s Division located at 175 S. Main Street, 3rd Floor, Akron (aka The Ohio Building) 330-643-2600. They can provide the payoff amount for the Real Estate Taxes that are due. It is YOUR responsibility, as the buyer, to pay these taxes and bring to the Summit County Sheriff’s Office your completed, original Verification Form. Upon our receipt of the Verification Form, we will then subtract the Tax amount (only the amount that was used to set the open bid for the sale) from your purchase price. This can be done any day after the sale.NOTE: If the Sheriff’s Office does not have the Verification Form by the time the Deed is ready, the Deed CANNOT BE RELEASED.
4.
The balance of your purchase price is due within 30 (calendar) days. The first 8 days will be without interest. Starting the 9th day after the sale, you will be charged a 10 % annual interest rate. This interest amount will be calculated to a daily rate.
If you have NOT paid the balance within 30 days, you could be held in Contempt of Court by the Plaintiff, according to the Court Rules.
5.
Preparation of the “Confirmation of Sale” is the responsibility of the plaintiff’s attorney. Delinquent tax sale properties must be paid in full BEFORE the confirmation of sale will be prepared. After the confirmation has been completed and filed in the Clerk of Courts by the plaintiff’s attorney, it is the plaintiff’s attorney’s responsibility to provide the Sheriff’s Office with a filed copy of the confirmation. This instructs the Sheriff’s Office to prepare the deed for the new owner. We will prepare the new deed within 10 days of receiving the “Confirmation of Sale” at the Sheriff’s Office. Until we receive that document, we cannot process the sale any further. We will notify the buyer/new owner as soon as the deed has recorded and the process has been completed in the Recorder’s Division. (Delinquent tax sales only.) This process can take up to 8 weeks or more.
