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Ohio Foreclosure Law
In Ohio, all foreclosures are handled through the courts. The
typical timeline for an Ohio foreclosure is seven months.
Pre-foreclosure Period
To begin a court foreclosure in Ohio, the appropriate court
documents are filed in a local court. The borrower is then given
notice of the court filing, usually by certified mail, regular
mail, or personal service. If a borrower cannot be located, the
lender may publish the notice of the court filing. After the
notice has been properly delivered or published, the borrower
has 28 days to respond or the court can find them in default.
After the court makes its decision, the county clerk issues an
order of sale to the sheriff. The court allows borrowers to pay
the debt amount within a certain time. If the borrower fails to
pay, the foreclosure process continues.
Notice of Sale / Auction
Before the foreclosure sale, the sheriff must obtain three
appraisals and publish an ad in a local newspaper for three
weeks. The sheriff then conducts a public auction at the
courthouse. The sale price must be at least two thirds of the
appraised value, and the property is sold to the highest bidder.
After the sale, the court reviews and files an order confirming
the sheriff's sale. The sheriff prepares and issues a deed
transferring ownership to the winning bidder. The borrower has a
right to redeem the property at any time before the sale is
confirmed by paying the balance owed and court costs.
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