Bidder Info & FAQ
ALL BIDDERS: You must pay the purchase price in FULL at the time of sale. ONLY IF you have met with the Commissioner and obtained the Commissioner's approval of your collateral and surety for a bond ONE WEEK PRIOR TO THE SALE DATE will you be allowed to pay 10% at the time of the sale and the balance, with interest, due in within thirty days from the date of sale. See Q&A #3 below.
PLEASE NOTE: Our business office moved on May 10, 2021. Our new
address is 1505 Carter Avenue, Suite 204, Ashland, KY 41101 ---
However, all mail should be forwarded to
Post Office Box 667, Ashland, KY 41105 (which has not changed). ---
SALES are held inside in the lobby of the old Boyd County Courthouse, 2800 Louisa Street, Catlettsburg, KY 41129, not at our office. Thank you.
UNTIL FURTHER NOTICE: There may be times when our office will be closed and we work remotely, but you may reach us during those times by telephone or e-mail.
**ATTORNEYS: PLEASE REFER TO HOME**
Besides this website, we do not compile a list of upcoming or pending sales. All of our sales will be scheduled on a specific Friday, and you will need to check "Upcoming Sales" for the specific date. Our sales are advertised in the Ashland Daily Independent. We will publish our advertisement of the time, date and terms of the sale at two times. The first of the two will run on a Friday that is 21 days prior to the sale date and the second of the two will run on a Friday that is 7 days prior to the sale date. The Boyd County Master Commissioner's Sales will be held on Friday mornings starting at approximately 11:00 a.m. and each sale is scheduled five (5) minutes apart until the sales for that date are completed. Our advertisements contain the date, time and terms of the sales, as well as the property address and map/parcel ID number. Our advertisements will no longer contain the legal description. Contact the Ashland Daily Independent for information on where to locate the advertisements in the newspaper.
All sales are public auctions conducted in the lobby of the old Boyd County Courthouse located at 2800 Louisa Street, Catlettsburg, Kentucky.
The successful bidder will be required to pay the FULL purchase price at the time of the sale by means of check (personal or business or official), unless he has received PRE-APPROVAL OF SURETY/COLLATERAL for a bond from the Master Commissioner. Again, pre-approval of the surety/collateral that is intended to back up Bond must be made at least 3 days prior to the date of sale, and you must call prior to that time to schedule an appointment. Only after a bidder has received pre-approval of the surety/collateral and signed the bond swearing to the collateral value PRIOR TO THE SALE DATE, will he be allowed to pay the minimum of a 10% down payment at the time of sale and the remainder to run with interest and be due within thirty (30) days from the date of sale. Also see FAQ No. Q3 below for further information concerning the required collateral and the monies and bond due at the time of sale.
The successful bidder at the sale will be responsible for paying the current year taxes. There will be no proration of taxes. Only delinquent taxes shall be paid from the sale proceeds. However, please check our newspaper advertisement for this information due to the fact that there may be an action where it is ordered that the successful bidder is responsible for certain years of delinquent taxes as well as the current year.
All properties to be sold by the Master Commissioner will be appraised by two disinterested housekeepers of Boyd County, and those appraised values will be published to this website immediately upon our receipt of the same. If a property does not sell for two-thirds (2/3) of its appraised value, then the property owner may be able to reclaim the property within six months from the sale date in that he may retain a right of redemption. Please consult an Attorney, not this office, for more information on rights of redemption. You will also note in certain actions that the United States has a right of redemption, which in most cases is four (4) months from date of sale.
Provided that all lien holders and necessary parties are made a part of the actions and that for all that the case pleadings allow, the properties shall be sold free and clear of any right, title and interest of all noticed parties to the action and of their liens and encumbrances thereon, excepting easements and restrictions of record in the Boyd County Court Clerk's Office and such rights of redemption as may exist in favor of the United States of America or the defendant(s). NOTE: The Master Commissioner does not guarantee free and clear title, and he strongly recommends that you retain an attorney for an immediate title examination of the property if you are successful bidder. See Q7 below.
If you have never bid on nor purchased property at a Master Commissioner's Sale, it is recommended that you consult with an attorney, not this office, prior to doing so. The Office of the Master Commissioner is not required to provide any information other than what is directed by the Laws of the Commonwealth of Kentucky. This website is to be regarded only as a tool to assist in answering a few questions of attorneys, parties and purchasers concerning necessary procedures and requirements of Master Commissioner Sales in Boyd County.
Frequently Asked Questions
Q1: Is a Master Commissioner's Sale the same as a Sheriff's Sale or Tax Sale?
A: No. A Master Commissioner's Sale is a public auction of a property which is the subject of a foreclosure action or action brought for judgment and collection of a delinquent tax lien. A foreclosure action results from a property owner defaulting on a mortgage. The mortgage company files a suit against the property owner in Circuit Court in order to obtain a judgment against the property owner for the remaining balance due on the mortgage. The Court will then refer the action to the Master Commissioner to sell the property at public auction so the mortgage company may collect on its judgment. The attorney for the mortgage company is almost always present at the auction in order to bid for the property on behalf of the mortgage company. However, anyone may be present to bid for a property sold by the Master Commissioner.
Q2: If I see an empty house, and I have no information except the address, will the Master Commissioner be able to give me any information?
A: No. The Master Commissioner has no knowledge of a pending action or property to be sold until he receives a Boyd Circuit Court Order referring the action to him to sell the property. Some foreclosure actions referred to the Commissioner for sale do not include an address and some addresses that are included in the Order of Sale are incorrect. The Master Commissioner advertises the address that is given in the Order of Sale, which Plaintiff's attorney prepares. The Master Commissioner does not guarantee that the address is correct. If you are looking for a property, and the only information you have is an address, please feel free look through the list of upcoming sales and past sales published on this website. Do not expect the Master Commissioner to give you any information based on an address only. The Commissioner's files are kept by the name of the primary defendant (property owner) in the action, not the address.
Q3: What do I need to take with me to the auction?
A: You must pay the Commissioner the FULL purchase price at the time of the sale. You must have the form of payment on your person when bidding and then give the payment to the Commissioner immediately after the sale. You will not be permitted to run to the car or anywhere else to obtain the payment. The form of payments will need to be a personal or business check or a money order or official check good for the entire successful bid amount or, IF the Commissioner has PRE-APPROVED your collateral/surety for a bond, then a minimum 10% deposit amount will be due at time of sale. Only if you have met with the Commissioner ONE WEEK PRIOR TO THE SALE DATE and obtained his approval of your collateral and surety to put up for the unpaid 90% of purchase price will you then be allowed to pay 10% down at time of sale and execute bond for the remainder plus interest at the judgment rate, which total must be paid within thirty (30) days from the date of sale. You must call to schedule an appointment to meet with the Commissioner for the approval at least ten days prior to the sale date. Purchaser and surety must be residents of the State of Kentucky and provide a State ID, Social Security Number, and proof of collateral with sufficient equity for the successful bid (for example, your deed to real estate that must be located in Boyd County) and the value (most recent tax bill) and documented liens against the same. If the real estate is jointly owned, all owners must sign as surety. A surety may also be the owner of financial accounts he/she is willing to put up as collateral and guarantees, UNCONDITIONALLY, to pay the balance of the sale price and all costs and expenses due should the purchaser fail to pay in full within the specified time due. The Commissioner may also accept as collateral a checking/savings account statement or an up-to-date investment account statement if the funds are retrievable within 30 days. If using an investment account, it may not be retirement related. We do not accept Letters of Loan Approval from your financial institution, and you cannot apply for a mortgage against the subject real estate for the purchase price. The Master Commissioner is not a lending institution...The Surety must already own its collateral. If surety fails to make the bond good when due in thirty (30) days, the Master Commissioner will report the failure to the Court for appropriate action, which will include, but not be limited to, a public auction of your collateral in order to collect all costs involved in the sale and the bond balance and interest due, and any costs incurred as a result of collecting on the bond as well as the resale of the subject property. Again, the surety/collateral is to be pre-approved by the Master Commissioner as least one week prior to sale date, and because any statements giving the value of collateral must be of current date, you must apply for a new bond/surety for every sale that you intend to bid on. Finally, the Commissioner has the discretion/right to reject any proposed surety for any reason.
Q4: Can I see the property before the auction?
A: Buying a piece of property at the Master Commissioner's Sale is not like buying a piece of property from a realtor. The Master Commissioner is not given a key to the property, and therefore has no way to get in to see the real estate. The Court appointed appraisers do not have keys, and the appraisals are basically "drive-by" appraisals - unless the property has been abandoned or is vacant. Many times, the property owners refuse to move from the property, and, therefore, you cannot view the property before the sale. if you are the successful bidder at the sale, you may need to take the appropriate Court actions in order to remove them from the premises.
Q5: Can I purchase the property before it goes to auction?
A: Only if you can work with and through the property owners to get with the foreclosing mortgage company. The property owners are the only ones who can sign a deed before the Master Commissioner's Sale due the fact that the property owners still own the property. However, once in a foreclosure action, the mortgage company must approve of a private sale prior to the Master Commissioner's Sale. The Master Commissioner has no contact information on either the property owners or the mortgage companies due to the fact that the Master Commissioner works only with the Attorney for the mortgage company. NOTE: If we have a foreclosure property scheduled for auction, and the plaintiff mortgage company has placed the same property in the hands of a realtor for sale prior to the auction and without having received a deed, the property cannot be purchased from the realtor due to the fact that the mortgage company is not the legal owner does at that time and, therefore, has no right to sell the property. Only after the mortgage company is the successful bidder at the time of the sale and a deed has been delivered to the mortgage company can the mortgage company sell the property.
Q6: If I am the successful bidder, can I take possession of the property immediately and change the locks, and should I obtain insurance?
A: If you are the successful bidder at the time of the sale, it is recommended that you obtain insurance immediately due to the fact that you have an equitable and insurable interest in the property. However, the property is not yours to possess until you have the deed, which could be as long as five to eight weeks. Once the Master Commissioner files his Report of Sale (the week after the sale), there is a 10-day waiting period for any objections to be made. Thereafter, the Attorney for the mortgage company must file a motion with the Court asking for an Order confirming sale and directing delivery of deed and distribution of proceeds. However, if the property is vacant, there may exist certain circumstances that would require the purchaser to change the locks or make certain necessary repairs at his own expense. If there are residents that refuse to leave the premises, you may take the appropriate Court actions in order to remove them after the sale is confirmed.
Q7: Will I receive a clear title?
A: The Master Commissioner does not warrant or guarantee in any manner that the title is free and clear of encumbrances or defect. It is not the Commissioner's responsibility to see that all lien holders are made parties to this action. The purchaser has ten (10) days from the date of sale to ascertain whether such conditions exist by way of a title examination and to file with the Court his/her objections in a motion to set aside the sale. Therefore, it is strongly advised that the purchaser seek an attorney concerning a title examination immediately upon becoming the successful purchaser of a property sold at the Master Commissioner's Sale, if not done prior to the sale.
Q8: When will I receive a deed if I am the successful purchaser?
A: The Master Commissioner must have an Order from the Court to deliver a deed. There is a ten-day period after the filing of the Master Commissioner's Report of Sale for objections to be filed with the Court. After that 10-day period, if there are no objections, the Attorney for the foreclosing party may file a Motion for Order Confirming Sale and to Deliver Deed and Distribute Sale Proceeds. If the Commissioner has received payment in full of all monies due, and he has been informed by Attorney for foreclosing party that there are no outstanding delinquent taxes due against the subject property, then, upon Order from the Court to deliver the deed, the Commissioner will deliver a deed.
Q9: Can a sale be canceled?
A: The Commissioner will only cancel a sale upon written request from the Attorney for the Plaintiff or receipt of a Court Order. Also, notice of a bankruptcy filing from the Attorney filing the bankruptcy will automatically cancel a sale. The Commissioner will accept cancellations up until 3:00 p.m. on the Thursday immediately preceding the sale date via fax transmission. Unless ordered by the Court, there will be no cancellations on the date of sale.
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