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Foreclosure sales are conducted by the Sheriff’s Office. These sales involve real estate of the defendant(s) but may also involve personal property. In both cases, property is levied upon, offered for sale, and the proceeds will be applied towards a judgement against the defendant(s).
What You Need to Know About Our Foreclosure Sales
- The Fayette County Sheriff’s Office cannot give legal advice or recommend an attorney. However, it is highly recommended that you consult with an attorney prior to bidding at a Sheriff’s sale.
- All sales are held at the Fayette County Sheriff’s Office, unless otherwise noted on the notice of Sheriff’s sale.
- Before the sale, you are responsible for doing your own research into any additional liens on the property, any taxes owed, and if anyone is currently living in the residence. The sale occurs sight unseen. You are buying the property AS IS. We do not have a key to show the property. No property is sold free and clear, so buyer beware.
- If you intend to bid on a property, you will need to present a letter of credit from your financial institution prior to the sale. That letter of credit will need to be verified with your financial institution so be sure they are open during the sale time so contact can be made.
- Sales notices are posted in three public locations and published twice prior to the sale date in the legal notice section of a newspaper. The Sheriff’s Office currently posts notices at the Fayette County Courthouse, and depending on the property location, the nearest city hall, post office or library and the lobby of the Fayette County Sheriff’s Office. Publication will either be in the Oelwein Daily Register or the Fayette County Union, depending on the property location.
- The Sheriff’s Office does not guarantee clear title to any property purchased at the sale. Liens may be attached to the property.
- Forfeiture bids may start with the judgement holder. Sales involving personal property require an opening bid of 2/3 of the appraised value unless otherwise stated.
- Some sales may have a redemption period, which is the amount of time a defendant has the right to redeem the real estate after the sale.
- In a special execution, the court directs the Sheriff what to sell.
- In a general execution, the plaintiff directs the Sheriff on what to sell. If a general execution involves real estate, only the defendant’s rights, title, and interest in that real estate are being sold.