All Forum Posts by: Cin Ng

Am I correct in interpreting the following as property taxes not being an issue after the sale?

323.47 Lien on land to be discharged out of proceeds of sale.

(A) If land held by tenants in common is sold upon proceedings in partition, or taken by the election of any of the parties to such proceedings, or real estate is sold by administrators, executors, guardians, or trustees, the court shall order that the taxes, penalties, and assessments then due and payable, and interest on those taxes, penalties, and assessments, that are or will be a lien on such land or real estate at the time the deed is transferred following the sale, be discharged out of the proceeds of such sale or election. For purposes of determining such amount, the county treasurer shall estimate the amount of taxes, assessments, interest, and penalties that will be payable at the time the deed of the property is transferred to the purchaser. If the county treasurer's estimate exceeds the amount of taxes, assessments, interest, and penalties actually payable when the deed is transferred to the purchaser, the officer who conducted the sale shall refund to the purchaser the difference between the estimate and the amount actually payable. If the amount of taxes, assessments, interest, and penalties actually payable when the deed is transferred to the purchaser exceeds the county treasurer's estimate, the officer shall certify the amount of the excess to the treasurer, who shall enter that amount on the real and public utility property tax duplicate opposite the property; the amount of the excess shall be payable at the next succeeding date prescribed for payment of taxes in section 323.12 of the Revised Code.

According to county court records, the plaintiff is the first lienholder, but I was told that there could still be other rare cases such as mechanic's liens or federal tax liens.  Is there a way to research this without a title company/lawyer?  According to county records and the sale documents, there are no junior liens such as real estate taxes.

I'm new to all this, but what if it looks like the loan was modified and then defaulted on? What is bank bidding protocol (in Cleveland area)? It seems most cases are bought back by the Plaintiff bank.  Could there be any FNMA involvement? I was looking at a past case in the same town and saw that FNMA bought the property at the full appraised value, and the minimum bid is only 2/3 of the appraised value here. I'd like to buy my first home at a particular sale, but am trying to figure out if I would be wasting my time attending the Sheriff sale. Thanks!

Also, what implications are there if the owner filed chapter 7? Would there be a high chance of other liens that may still be tied to the title then? And why would an HOA be named as a defendent?

I'm new to all this, but what if it looks like the loan was modified and then defaulted on?  What will the bank do in this case (in Cleveland area)?  Could there be any FNMA involvement?  I was looking at a past case in the same town and saw that FNMA bought the property at the full appraised value, and the minimum bid is only 2/3 of the appraised value here.  I'd like to buy my first home at a particular sale, but am trying to figure out if I would be wasting my time attending the Sheriff sale.  Thanks!