You buy directly from the homeowner before the auction, often for less than the mortgage balance.
If the home doesn't sell at auction, the bank takes ownership and lists it on the traditional market through sites like Zillow or Realtor.com . 2. Locate and Research Properties Foreclosure FAQs - Ohio Attorney General Dave Yost
The home is sold via a court-ordered online auction. In Ohio, these are hosted on Realauction. how to buy a foreclosed home in ohio
Foreclosures in Ohio typically fall into three categories, each with different rules:
Buying a foreclosed home in Ohio involves navigating a state-mandated judicial process where most sales occur through online public auctions. Because Ohio is a judicial foreclosure state , lenders must file a lawsuit to get a court order for a sale. 1. Choose Your Buying Method You buy directly from the homeowner before the