The Conditions of Sale of real estate situated in the County of Northampton, and State of Pennsylvania, with the appurtenances and to be sold by the Sheriff of said County, by virtue of the above-mentioned process, are as follows, to wit:
1. CAVEAT EMPTOR (“BUYER BEWARE”). A buyer at a judicial sale takes only what title there is to sell and the doctrine of Caveat Emptor applies. The Sheriff and his representatives, employees, and Solicitor make no representation of warranties to any prospective purchasers as to the state of the title. The buyer takes the property “as is” and subject to any liens or charges which are not discharged by the sale.
2. BIDDING. Bidding during the sale will be conducted in open auction manner with each bid offered being a minimum of $500.00 above the previous bid. The highest and best bidder to be the buyer. For all sales with competitive bidding, the execution plaintiff’s highest recorded bid is automatically registered.
3. SALE TO 3RD PARTY. The buyer has two options for payment of his bid amount: 1) the full purchase price may be paid at the conclusion of the sale; or 2) a minimum of 10% of the bid amount shall be paid at the conclusion of the sale, but only if such percentage equals or exceeds the total amount of the Sheriff’s costs. Acceptable forms of payment include cash, money order, business check or certified check from a financial lending institution. At the time of deposit, the buyer will sign an agreement for the payment of the remainder on or before the twenty-first (21st) calendar day following the sale. No extensions of the time for payment will be granted.
4. FAILURE TO MAKE PAYMENT. If the buyer fails to make the minimum 10% deposit at the conclusion of the sale, or fails to pay the remainder of the purchase price by the close of business on the twenty-first (21st) calendar day following the sale, he will forfeit all claim to the property, and any money paid on account will be forfeited and applied to the costs of the Sheriff’s Sale. The purchase of the property will revert to the execution plaintiff at its registered bid amount.
5. DISBUREMENT OF SALE FUNDS. For all sales to 3rd-party buyers, a Schedule of Proposed Distribution will be issued by the Sheriff approximately thirty (30) days after the sale. Payment of all tax liens, municipal liens and claims of record filed as of the date of the sale and that are required by statute to be collected and paid by the Sheriff, as well as all municipal claims certified to the Sheriff prior to the issuance of the Schedule of Distribution, will be made from sale proceeds before distribution of any overage to the execution debtor. Otherwise, payment of such liens and claims are the responsibility of the buyer. In accordance with Pennsylvania statute, the Sheriff will pay out of the proceeds of the sale first, after costs, all delinquent taxes and municipal claims certified to the Sheriff prior to distribution.
6. DEED. The precise name and address of the new Grantee must be furnished to the Sheriff no later than thirty (30) calendar days after the date of the execution sale. The Deed will be issued no later than forty (40) calendar days after either the filing of the Schedule of Distribution or the date of the execution sale if no Schedule need be filed. If the buyer fails to furnish the precise name and address of the new Grantee as required, the name and address of the buyer on file with the Sheriff shall be used for the Deed, and same shall be recorded as stipulated above.
7. SALE TO PLAINTIFF. Payment of any outstanding costs must be received before a Deed will be delivered to the Recorder of Deed’s Office for recordation. In addition, if the Sheriff’s proper fees and costs are not paid promptly upon demand, the sale will be voided and the levy abandoned pursuant to the Pennsylvania Rules of Civil Procedure.
Revised April, 2015. Effective June 1, 2015.