Privatizing foreclosure auctions will let the Courts and creditors get properties sold more quickly and efficiently than simply running the auction through the local Sheriffs department benefiting both the consumer and the creditors.
Columbus, OH (PRWEB) August 31, 2016
Gryphon Auction Group has been appointed as Special Master to complete the 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 at http://www.gryphonusa.com. Bidders who prefer to bid live may do so on the final day of the offering by contacting the auctioneer.
The first property is a 3BR/2BA ranch style home on 8 acres at 6455 London Groveport Rd., Grove City, Ohio appraised at $300,000 with a minimum bid of $240,000. The second is a 4BR/2BA Colonial at 6110 Holiday Lane, Dublin, Ohio appraised at $240,000 with a minimum bid of only $159,850.
The foreclosure auction of real estate by private auctioneer is not new in Ohio however the process has recently been streamlined under Ohio Sub HB 390 which passed in May and was signed by Governor John Kasich in late June. Key modifications allow for selling online only as well as defining the role of Private Selling Officers who would be qualified to undertake the auctions across the state.
“This change is long overdue in Ohio. Privatizing foreclosure auctions will let the Courts and creditors get properties sold more quickly and efficiently than simply running the auction through the local Sheriffs department benefiting both the consumer and the creditor” said Richard Kruse, president of Gryphon USA and a state qualified Private Selling Officer.
Properties offered through this auction are related to Franklin County Ohio Court of Common Pleas case numbers 15 CV 10907 and 15 CV 10908.
Gryphon USA, Ltd. is a multi-faceted asset management and liquidation firm focusing on the operations and dissolution of single assets through and including entire companies. The company maintains a receivership and asset management group, diverse auction practice and real property group. Traditional real estate transactions are managed in conjunction with Borror Properties Real Estate.