Yes.
In a traditional seller auction (non-foreclosure) the deposit will be selected by the seller and identified in the Auction Firms terms of sale. If you have any questions please contact the Auction Firm.
In a Private Selling Officer Auction, the amount is determined by Ohio Revised Code Section 2329.211. For residential property, the deposit amount varies based on the appraised value of the property. The amounts are:
|
Appraised Value of Residential Property |
Deposit Amount |
|
· less than or equal to $10,000 |
$2,000 |
|
· greater than $10,000 but less than or equal to $200,000 |
$5,000 |
|
· greater than $200,000 |
$10,000 |
