Legal Question in Real Estate Law in Ohio

Re: sheriffs sale

Dear Fearsome Homeowner,

Yes, there is a way to save your home just before Sheriff's sale - bid on the home during sale and become the successful high bidder! Otherwise, you must deal with the successful bidder which will, probably be the lender.

The legal process of foreclosure also provides you with another important opportunity of equitable redemption, just before the (Sheriff's)hammer falls. You, or someone in your behalf may contact the lender (mortgage holder) with an offer of "short sale", whereby they would negotiate a purchase for a distressewd price, perhaps as low as 50% of the appraised value, and certainly muich less than your mortgage debt. But, be verycareful of the actual liens on the property which may include undisclosed liens by the IRS for unpaid or delinquent incopme taxes, and other liens such as water bills, sewer charges, etc.

Consult an experienced real estate attorney to assist you. Good luck!

Sincerely,

J. Norman Stark, Cleveland, Ohio.