Sheriff's Sales

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GIBSON COUNTY SHERIFF SALE POLICY

Sheriff Sales are the result of a court ordered bank foreclosure for the non-payment of standard monthly mortgages. These sales are scheduled once each month (generally the 3^rd Thursday of the month) and are held in the Gibson County Sheriff’s Department main office. These sales should not be confused with “Tax Sales” which are held twice a year by the Treasurer’s Office for non-payment of real estate taxes. They are not the same thing.

Sheriff Sales are held in the Gibson County Sheriff’s Department main office unless otherwise noted. Written and faxed bids are accepted on the day of the sale prior to 10:00 AM. The fax number for faxed bids is 812-385-2814. Properties receiving multiple bids go to verbal bidding beginning at 10:00 AM. All bids are final and irrevocable.

Individuals bidding on these properties must have the funding available on the day of the sale. All bids must be paid IN FULL no later than 3 pm on the day of the sale by certified cashiers check or bank check made payable to the “Sheriff of Gibson County”. Letters of credit or other letters of verification are not accepted. All properties sold by the Sheriff’s Office by court order are sold “as is”. It is the buyers’ responsibility to ensure that they are aware of all legalities of such a purchase and in the event they are unsure, it is in their best interest to contact a real estate attorney for advice.

Access to foreclosure locations are on our website and are also advertised in the legal section of the Princeton Daily Clarion, generally on Fridays, beginning approximately six weeks prior to the sale. The full notice of sale is available at the Gibson County Courthouse and also in the newspaper. Notices are also posted in three locations within the township of the real estate (generally the libraries, US post office, town hall).

Buyers of these properties become responsible for outstanding liens. It is the buyers’ responsibility to research the property for such liens and also to ensure the legal description matches the common known street address. The Gibson County Sheriff’s Department does not warranty the common known street address as it is listed.

In some cases, there are individuals residing in these properties and as a result interested individuals cannot view the inside of the property prior to the sale. It is the responsibility of the purchasing party to file the proper eviction papers through the court system if the residents have not vacated the property. Personal belongings left by the previous homeowner must also be stored by the new purchaser.

Frequently Asked Questions (FAQ)

When do you hold “Showings” for the houses? We don’t. These are court ordered foreclosures and not real estate listings as you would normally think of them.

If I buy one of these homes, I only have to pay 10% down at the time I bid, right? No, effective September 1, 2005 full payment of the bid is due on the day of the sale by certified cashiers check or bank check.

I found a house I wanted then when I got to the sale it was cancelled, why? There are many reasons a sale could be cancelled. The owners caught their payments up, the owners may have filed bankruptcy, the bank court not finalize their paperwork or any other number of reasons. We cannot predict these cancellations.

How do I get the keys after I buy it? You are responsible for getting into the property after you purchase it. We do not have the keys to any locks and cannot act as a realtor by providing keys.

There are still people in the house I bought, I can kick them out, right? No, generally, most people have moved by the day of the sale but if they are still residing there then standard eviction procedures must be followed. Check back with us if this occurs for sale order instructions.

I don’t owe anything else once I pay for the house I bid on, do I? Any liens listed in the court proceedings are taken care of. Federal, State and IRS interests become the responsibility of the new buyer. IRS has 120 days to redeem any property purchased if they hold an interest. The Sheriff’s office recommends obtaining a title search if you are seriously interested in a property to avoid any unknown costs on your part.

Once I have the deed from the Sheriff there isn’t anything else I need to do, is there? Yes. You must file the deed with the Recorder of our county in order for the property to be finalized.

FORECLOSURE OF REAL ESTATE MORTGAGES AND LIENS
(IC 32-8-16-1 through IC 32-8-16-6.5)

When Process May Issue

Unless otherwise ordered by the court, judicial foreclosure of all liens upon real estate will be conducted under the same rules and with the sale proceedings as foreclosures of mortgages. In proceedings for the foreclosure of any mortgage executed on or after July 1, 1975, the court may not issue process for the execution of judgment or decree of sale for a period of three months from the time of the filing of the complaint. However, in proceedings where the mortgage was executed before January 1, 1958, the process shall not issue for at least twelve months, and where the mortgage was executed after December 31, 1957 and before July 1, 1975, the period shall be six months.

The owner of real estate subject to foreclosure may file with the clerk a waiver of these time limitations. Consent of the judgment holder shall be endorsed on the waiver which consent, if given, must also release the debtor from any personal liability. Upon filing, process must issue immediately.

The Sheriff's Duties upon Execution and Sale of the Mortgaged Real Estate

PROCESS

A copy of the judgment and decree of sale is certified by the clerk, sealed with the seal of the court, and issued to the Sheriff. The Sheriff must proceed to sell enough of the real estate to satisfy the judgment, interest and costs.

POSSESSION OF THE PROPERTY

The Sheriff is entitled to possess personal property even though the mortgage agreement itself says that the mortgagee is entitled to possession in case the property is levied upon.

NOTICE

Notice of the sale must be advertised by publication once each week for three weeks in a daily or weekly newspaper which has been a paper of general circulation, printed in the English language, and published in the county where the real estate is situated. Notice is also made by posting written notices in at least three public places in the township in which the real estate is situated, and at the courthouse door. The first of the publications must be made at least thirty days before the date of the sale. A notice of sale must contain a statement, for informational purposes only, of the location of each property by street address, if any, or other common description of the property other than legal description.

SALE

The Sheriff must sell property on foreclosure in a manner that is reasonably likely to bring the highest net proceeds from the sale after deducting the expenses of the offer and sale. The sale must be made by auction at the office of the Sheriff of the county where the real estate is located. The whole body of the mortgaged real estate should be offered for sale, unless the court orders otherwise. It is not necessary, unless ordered by the court, to offer first the rents and profits, or to offer separate parcels. If part of the judgment, interest or costs remains unsatisfied, the Sheriff is required to levy the residue on other property of the judgment debtor. If the proceeds of the sale exceed the amount of the judgment, interest and costs, the excess should be paid to the clerk of the court for disbursement by the court.

SHERIFF'S DEED

Immediately after the sale, the Sheriff should execute and deliver to the purchaser a deed of conveyance of the premises. There is no right of redemption after sale of mortgaged premises.

RETURN

After executing the deed to the purchaser, the Sheriff should make a return of the execution. In all cases where a foreclosure or execution sale of realty is not confirmed by the court, the Sheriff is required to make a record of his actions in his return to be filed promptly with the record of the case.

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