Beaver County Repository Property Sales
Beaver Repository Property List Sales
The explanation below is given in good faith but, should not be taken at face value, nor as legal advice. The author will not be held responsible for any errors contained herein. It is the responsibility of any prospective purchaser to do their own due diligence and are encouraged to seek the help and guidance of a professional with experience in the purchase of properties offered at a Judicial Sale or from the Repository List.The Repository List:
Properties not sold at the annual Judicial Sale are placed into the Beaver County Repository List. Properties on this list are displayed on the County's website and are available for public sale. Anyone can purchase a property on the list after gaining written approval from the local School Board, Borough/City and County. In some cases, the prospective buyer may have to submit documents, stating their intentions with the property, with plans if the property is to be modified, proof of sufficient funds to restore the building to code, etc.
Properties on Beaver County's Repository List have already been through the Judicial Sale process and are sold free and clear of local liens and taxes up to the date they were auctioned at the Judicial Sale. However, local taxes (School, County and City/Borough) from the date they were auctioned accrues and the new owner is responsible for paying these taxes in full.
Purchasing a Property on the List.
To purchase a property from the Repository List, the the following amounts are paid: Low bid price, the Costs Balance,Transfer Fee, all local taxes accrued for and after the year of the Judicial Sale, any federal and other liens outside the jurisdiction of the County judge, and any liens held by a lien-holder who was not informed about the Judicial Sale. In addition, if the owner was not informed, they have the right to repossess the property, subject to the prevalent laws concerning this issue.
When a property is purchased from the Repository List, it is sold "as-is, where-is." This means that without access to the property, the prospective buyer must assess the amount of work required to restore the property to code and to ensure there are no liens or other problems with the property or its' title. If it is not possible to restore to code, or the Code Enforcer condemns the building and refuses to allow access for the new owner to repair it, the new owner will be responsible for the demolition of the property. If a lien holder or the original property owner appears later, that is the responsibility of the new owner. There is no recourse.
Given the above, it is essential that the prospective purchaser performs a thorough and complete due diligence, including their own title search, to ensure they have no surprises after the sale. The County accepts no responsibility for any information it provides. It is solely the responsibility of the purchaser for everything. If you are unsure of anything, get advice from an experienced professional.
Key questions to ask about properties on the Repository List:
- Does the property still exist? Sometimes, a property included in the list is demolished by the city/borough due to its' deteriorating
state. The description of the property may not be changed to reflect this.
- Is the property is condemned? Check with the local code enforcer to make sure it has not been condemned and if it has, that
permission will be granted to make the necessary repairs to bring it up to code.
- Can you assess the amount of work and the expense to renovate the property and bring it up to code? Remember, this must be
done from outside the property with no legal access to the inside of the property.
- Has the property owner acknowledged receipt of the Judicial Sale? If not, they may have the right to repossess even after
the building is brought back to code. Please check prevalent laws concerning this issue.
- Have all lien holders been informed about the Judicial Sale? Not all liens are registered with the County. Please check with
a professional to find ways of countering any future claim, false or otherwise.
- Are there any outstanding Federal liens or other liens outside of the County judge's jurisdiction? If there are, the new owner
will be responsible for settlement of these liens.
Buyer Beware! It cannot be emphasized enough: Purchasing a property at the Judicial Sale or from the Repository List can be a great investment. However, if you are not experienced in purchasing a property at a Judicial Sale, or from the Repository List, you must get advice and guidance from an experienced professional or you could lose a great deal more than the price you pay for the property.
If you need help, would like further information, or need to find an experienced professional to help you, please send us an email by using the form below:
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