Terms and Conditions
Office of the Sheriff
Cumberland County, Pennsylvania
Terms & Conditions
Terms and Conditions for the Sale of Real Estate on December 07, 2016
1. No person shall bid on a property unless first having registered with the Real Estate Coordinator and signed a copy of these terms and conditions of sale.
2. The Sheriff will not read the entire legal description of each tract offered for sale, but will announce the sale date, sale number, names of the parties to the action, writ number, creditor's attorney, municipality, street address, if any, and tax parcel number.
3. All properties are offered for sale on a reserve basis. The attorney for the execution creditor may withdraw the property from sale at any time up until the auctioneer knocks down the property to the successful bidder.
4. Prior to offering each tract for sale, the Sheriff will provide the attorney for the execution creditor the opportunity to make any announcements. Any announcement of an upset sale price will be treated as a bid in that amount and poundage will be charged on the amount of the announced upset sale price.
5. A one dollar bid shall mean that the bid is for the total amount of costs chargeable to the sale of the property. No subsequent bid shall be offered which is less than the amount of costs. Upon request, the dollar amount of the sale costs will be announced.
6. When a sale involves more than one tract, and in the absence of instructions from the creditor's attorney to the contrary, each tract will be offered separately and the bids held. Then, all the tracts will be offered together. The properties will be knocked down in the manner resulting in the highest sale proceeds.
7. The following items ARE NOT INCLUDED in any bid and must be paid in addition to the amount of the successful bid:
A. Realty transfer taxes. The successful bidder authorizes the Sheriff to add all realty transfer
taxes to the bid amount for disbursement at the time the deed is recorded.
B. Poundage. For each sale upon which money is made in excess of costs, the successful
bidder shall pay poundage at the rate of 2% of the bid amount up to $250,000.00 and
0.5% of any remaining bid amount.
C. Certified lien search. For each sale upon which money is made in excess of costs, the
purchaser will be required to pay an additional amount of $350.00 per tract for a
certified lien search, which will be performed on behalf of the Sheriff prior to distribution
of sale proceeds.
8. A Schedule of Distribution will be filed on or before January 06, 2017 and distribution will be
made in accordance with the schedule unless exceptions are filed thereto within ten (10) days thereafter.
9. As soon as the auctioneer knocks down a property to a successful bidder, ten (10%) per cent of the purchase price or all costs, whichever is higher, shall be delivered to the Sheriff and, upon default of such payment, the Sheriff shall direct the auctioneer to resell the property. In all cases, the balance of the successful bid shall be paid to the Sheriff not later than Tuesday December 27, 2016 at 12:00 P.M., prevailing time. Otherwise, all monies paid will be forfeited and the property will be re-sold on Wednesday January 04, 2017 at 10:00 A.M., prevailing time, in the Office of the Sheriff.
10. The Sheriff will not act as agent for any party or bidder.
11. All properties are exposed for sale without any representation by the Sheriff as to the quality of title offered. Bidders are cautioned to be familiar with the state of the title prior to making a bid.
I have read the above terms and conditions of sale and intend to be legally bound hereby:
|Date:__________________________||________________________________________________ Signature of Bidder/Attorney ________________________________________________ Printed Name of Bidder/Attorney|
| ________________________________________________ Form of Identification ________________________________________________ ________________________________________________ Address ________________________________________________ Telephone Number
E-Mail Address ____________________________________