Private Selling Officer (PSO)

The Ohio Private Selling Officer statute went into effect in late 2016 and quickly became a popular way to conduct foreclosure auctions in lieu of the county sheriff.  Our principal, Richard Kruse, was one of the first Private Selling Officers ever appointed in Ohio and even consulted on the drafting of the bill.

In brief, a PSO is authorized to offer property at judicial sale, market the property and pass title to purchaser via a PSO Deed.  Transactions can be undertaken in an online auction format, listed in MLS and other venues and compensation can be offered to real estate agents who participate in the process.

We currently conduct approximately 1,000 commercial and residential PSO sales annually through our streamlined platform and format.

For additional information on Private Selling Officer benefits, timelines and costs contact Richard Kruse at  614-774-4118  or  rfk@gryphonusa.com.

Full authority of the PSO can be found in Ohio Revised Code 2329.152 Authorization of Private Selling Officer.