Many times the public will have questions concerning properties that are going to be auctioned by the Newton County Sheriff. Indiana Law requires the Sheriff to follow certain guidelines that does not afford him the opportunity to allow the public added time to acquire funding.
In an effort to answer some questions, we have provided exerts of some laws and guidelines, the Sheriff must follow in order to ensure that the public auction is valid.
According to Indiana Law under I.C. 32-8-16-5
NO SHERIFF SHALL BID ON SALE PROPERTY
No Sheriff or his agent making any such sale shall directly or indirectly purchase any property sold.
PURCHASER MUST PROVIDE PAYMENT AT SALE
If the purchaser of any property sold on such foreclosure shall fail to immediately pay the purchase, the sheriff shall resell the property either on the same day without advertisement or on a subsequent day after again advertising the same as above provided, as the judgment creditor may thereupon direct... AND...
PURCHASER WHO BIDS ON PROPERTY BUT NOT ABLE TO PRODUCE FUNDING IS RESPONSIBLE FOR EXPENSES FROM HIS SECOND HIGHEST BID
...If the amount of bid at the first sale shall not equal the amount bid at the second sale, the first purchaser shall be liable for the deficiency and damages thereon not exceeding ten percent (10%) interest and costs to be recovered in the proper court by such Sheriff.
PURCHASER MUST PAY OUTSTANDING TAXES ON DAY OF SALE
The purchaser is liable for any and all outstanding taxes owed on the property to the Newton County Treasure on the date of the sale. Purchaser must produce a receipt from the treasurer’s office before the Sheriff’s Deed can be released.
PAYMENT MUST BE IN THE FORM OF A CASHIERS CHECK
A suggestion for the bidder is to bring a cashier’s check for the highest amount they wish to bid. If the bidder purchases the property for an amount that is less than the stated amount on the cashier’s check, then the Newton County Sheriff’s Department will issue a refund check to the purchaser for the balance credited to them.
The Newton County Sheriff’s Department is bound by law to follow the restrictions and guidelines set forth. I hope that this information will assist you and I wish you luck in your endeavors. Thank you for inquiring about the Sheriff’s Sale.
Respectfully,
Donald Hartman, Sr.
Newton County Sheriff
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