Distressed Deal Day Occurs Every Wednesday for Ohio Foreclosure Properties

Real Estate buyers will have the opportunity to purchase distressed Ohio properties statewide every Wednesday. The foreclosure auctions are conducted online only by a Private Selling Officer and will end each Wednesday at 1pm.

Private Selling Officers (PSO’s) are licensed auctioneers in Ohio who take the place of the county Sheriff in the sale process. They are authorized by the Ohio Revised Code to sell properties at foreclosure auction under an appointment by the County Court.

Although Private Selling Officers operate under an order of appointment from the court, they’re able to help the public find, bid on and purchase foreclosure properties making it easier to buy foreclosure properties. The Private Selling Officer process is more efficient and considerably faster than traditional Sheriff Sales, but the rules are still the same. For example, most properties cannot be accessed prior to either bidding or closing, making it difficult to obtain a traditional mortgage. However if you have an appetite for a little risk and access to cash or non-traditional funding, buying foreclosure real estate can provide an extra return on investment.

Richard Kruse, Auctioneer and Managing Partner of Gryphon USA, has been appointed as the Private Selling Officer for many distressed properties in the state of Ohio and has taught seminars on the topic.

For information about each auction and property details, visit http://www.gryphonusa.com.

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