rich

/Rich Kruse

About Rich Kruse

Richard F. Kruse is Managing Partner of Gryphon USA, Ltd. The company oversees a receivership & asset management group, a commercial auction business and, in conjunction with Borror Properties, a full service real estate advisory practice. Mr. Kruse’s engagements are primarily focused on complex state and federal level legal matters, foreclosure and insolvency. Since 1996, he has acted in the capacity of receiver, interim manager, asset purchaser, liquidating agent, equipment appraiser, broker, property manager and/or auctioneer in transactions throughout the United States, Mexico and Canada – all with combined asset values over $2 billion dollars. In 2003, Mr. Kruse began strategically focusing on regional projects and accepting receivership appointments throughout Ohio, and ever since, has operated and sold or wound-down over 250 corporate entities through negotiated sale and auction. Mr. Kruse routinely teaches seminars on distressed asset management and corporate wind down and is an instructor at The Ohio Auction School. He is frequently consulted as an industry expert by the Columbus Dispatch and Columbus Business First newspapers. In 2011, Mr. Kruse participated in drafting new local rules for receivership management in his home base of Franklin County, Ohio. Most recently, he has been active in promoting and drafting modified legislation language related to streamlining the foreclosure sale process in Ohio. Mr. Kruse is a member of the American Bankruptcy Institute and Turnaround Management Association, where he formerly sat on the board of the Ohio Chapter. He is a member of the National and Ohio Associations of Realtors, and National and Ohio Auctioneers Associations. Mr. Kruse was recognized as “One to Know” in Real Estate 2013 by Business First, and in October of 2013, he was appointed by Governor John Kasich to fill a vacancy on the Ohio Auctioneers Commission. His first full term on the Commission began in late 2014. Mr. Kruse acts as advisor on strategy and finance to political candidates in Central Ohio, and is a graduate of the 2006 Leadership Columbus Program. In his personal life, he is dedicated to causes like education, children and politics. He is an active volunteer, fundraiser and parishioner at CenterPoint Church Gahanna where he participates in many hospitality functions and youth program. When he’s not working, he enjoys traveling and cooking. Mr. Kruse and his wife, Melissa, have one daughter, Savannah, and live in a northern suburb of Columbus, Ohio.

14,000 Sq. Ft. Upper Arlington Mansion Set for Foreclosure Auction

4860 Oldbridge Rd, Upper Arlington, Ohio Foreclosure Auction, Sept 5 @ 1pm. August 7, 2017 (COLUMBUS, Ohio) – Today offers a fabulous opportunity to a savvy investor or sharp executive to buy property in highly desirable Upper Arlington, Ohio at 50% below the last recorded selling price of $2,850,000. Gryphon Auction Group and [...]

By |2017-08-17T15:19:14+00:00August 7th, 2017|Auction, Foreclosure, Online, Private Selling Officer, Real Estate|Comments Off on 14,000 Sq. Ft. Upper Arlington Mansion Set for Foreclosure Auction

Asset Marketing in a Private Selling Officer Auction

As you reach Phase 3 of the process, the determination has already been made that a Private Selling Officer would be beneficial to the specific situation and you have selected a PSO to take on the project.  Your next step will be a discussion with your PSO regarding marketing of the asset, the costs associated [...]

By |2017-08-17T15:19:15+00:00March 29th, 2017|Auction, Foreclosure, Online, Private Selling Officer, Real Estate|Comments Off on Asset Marketing in a Private Selling Officer Auction

Working With a Private Selling Officer – Early Steps in the Process

  After you have made the decision that a Private Selling Officer auction is the right choice for your assets and have negotiated a fee agreement with your PSO, it’s time to get started.  The process below is one we go through for all of our transactions in one form or another. Note that there [...]

By |2017-08-17T15:19:15+00:00March 16th, 2017|Auction, Foreclosure, Online, Private Selling Officer, Real Estate|Comments Off on Working With a Private Selling Officer – Early Steps in the Process

Kruse Appointed First Private Selling Officer in Four Ohio Counties

Gryphon Auction Group announces their upcoming private selling officer auctions in Ohio Columbus, OH – Richard Kruse, Managing Partner of Gryphon USA, Ltd, the parent company of Gryphon Auction Group, has been appointed as the first private selling officer in four Ohio counties – Delaware,  Hamilton, Hardin, and Marion. Effective September 2016, new foreclosure laws [...]

By |2017-08-17T15:19:15+00:00March 16th, 2017|Auction, Foreclosure, Online, Private Selling Officer, Real Estate|Comments Off on Kruse Appointed First Private Selling Officer in Four Ohio Counties

Selecting A Private Selling Officer – Qualifications & Cost

Effective in September 2016, Ohio adopted revisions to R.C. § 2329.152 to include Private Selling Officers & Remote Bidding (ie. Online Auctions).  Many recent articles have focused on the changes in the law. In the next 4 articles we will be focusing on the operational aspect of the transactions vs. the legal aspect.  In this [...]

By |2017-08-17T15:19:15+00:00February 28th, 2017|Auction, Foreclosure, Online, Real Estate|Comments Off on Selecting A Private Selling Officer – Qualifications & Cost

LEADING OHIO AUCTIONEERS FORM ALLIANCE FOR OHIO FAST TRACK FORECLOSURE PROCESS

COLUMBUS, Ohio – Ohio House Bill 390, signed into law by Governor Kasich June 28, 2016 and just recently put into effect September 28, 2016, will likely set the precedent for the future of the foreclosure process nationwide.  After three years in the making, the bill is designed to reduce the foreclosure process of vacant [...]

By |2017-08-17T15:19:16+00:00October 21st, 2016|Auction, Foreclosure, Real Estate|Comments Off on LEADING OHIO AUCTIONEERS FORM ALLIANCE FOR OHIO FAST TRACK FORECLOSURE PROCESS

Revisions to Ohio’s Foreclosure Procedures Have Arrived

By Larry R. Rothenberg of Weltman, Weinberg & Reis Reprinted with permission of the author. In an abrupt move to beat the summer recess, the Ohio legislature passed H.B. 390, which becomes effective September 28, 2016. Among the new provisions are a procedure to expedite foreclosures on vacant and abandoned residences; and a standardized process [...]

By |2017-08-17T15:19:16+00:00September 20th, 2016|Uncategorized|Comments Off on Revisions to Ohio’s Foreclosure Procedures Have Arrived

Foreclosure Auction of 2 Suburban Homes to be Conducted by Private Auctioneer

6110 Holiday Lane COLUMBUS, Ohio – Gryphon Auction Group has been appointed as Special Master to complete the foreclosure auction of 2 suburban single family homes in the greater Columbus, Ohio area; one in Grove City and the second in Dublin. Both properties are offered for Online Auction now through September 22, 2016 [...]

By |2017-08-17T15:19:16+00:00August 25th, 2016|Auction, Foreclosure, Online, Real Estate, Special Master|Comments Off on Foreclosure Auction of 2 Suburban Homes to be Conducted by Private Auctioneer

Online bankruptcy auction a sign of things to come with new Ohio foreclosure law

COLUMBUS, Ohio -- When the six-unit apartment building in Cambridge, Ohio, sold in a bankruptcy auction last week, the buyer was sitting in a hospital waiting room 80 miles away, in Columbus, Ohio. The runner-up was in Los Angeles. And Ohio auctioneer Rich Kruse was celebrating in the Columbus office of Gryphon Auction Group. It’s [...]

By |2017-08-17T15:19:16+00:00August 4th, 2016|Auction, Foreclosure, Online, Real Estate|Comments Off on Online bankruptcy auction a sign of things to come with new Ohio foreclosure law