Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Foreclosures
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 1 year ago,

User Stats

7
Posts
1
Votes
John Perry
1
Votes |
7
Posts

Backing out of a purchase at Sheriff Sale (Ohio)

John Perry
Posted

Yesterday I did something incredibly stupid. I was bidding on a house at a Sheriff's Sale online. During the auction I went to increase my bid and accidentally ended up bidding on the wrong house (I know baffling). Turns out there is no way to cancel an active bid.. After winning I immediately called the Sheriffs department and was told there wasn't a lot they could do. They gave me the number to the law firm representing the bankruptcy and I'm communicating with them now but.. From what I can see online the news will not be good..

I already made a $4000 deposit to gain the ability to bid, and this money is obviously now locked up. I've read that in many places failure to pay the full amount (usually in 30-90 days) will or may result in contempt of court. Any other options I should pursue? The deal wasn't that good either given the little research I did on the house after the fact. Seems like there is some potential that is mostly dependent on the interior condition, but I really don't want the headache. I've already accepted this nightmare, just hoping to reduce loses.

Loading replies...