Financing and Terms of Sale

FOR PUBLIC AUCTION OF COUNTY REAL PROPERTY (not bank foreclosure sales)

FINANCING:  

Properties sold for less than $20,000 will be for cash or cash equivalents only, with a required deposit of 20% of the BID offer. 
Financing is available for an individual property sold for $20,000 or more, under a land sale contract, with terms as follows:  Cash down at time of sale, 20% of the BID offer; balance payable in equal monthly installments:  Properties sold for $20,000 or more may be purchased for cash or under a land sale contract, with terms as follows:  Cash down at time of sale, 20% of the BID offer; balance payable in equal monthly installments:  $20,000 to $40,000 purchase price is a 3 year term; $40,001 to $60,000 purchase price is a 4 year term; $60,001 and greater is a 5 year term, from date of sale; interest rate is 9% per annum. (see loan calculator below for an example.)

CASH PAYMENTS:
Cash payments will be subject to completion of IRS Form 8300:  
https://www.irs.gov/pub/irs-pdf/f8300.pdf

TERMS OF SALE:  
This is a public, sealed bid auction.  Property is sold “as is”. All sales will be made to the highest and best bidder for not less than the minimum bid price.  Josephine County does not furnish a survey or provide title insurance in any form.  Prior to issuance of any building permits on financed property, the amount due must be paid in full. Conveyance shall be by quitclaim deed.   For more information, please contact the Josephine County Real Property Manager, 500 NW Sixth Street, Courthouse, Room 50, Grants Pass, Oregon (541) 474-5220 or by viewing the county's website at www.co.josephine.or.us (follow links under Departments – Property Management). The Board of Commissioners reserves the right to withdraw any of the said properties from the sale at any time prior to the sale, and to reject any and all offers.
 
JOSEPHINE COUNTY SHERIFF
 




Download File
Loan calculator example.pdf

(180.6KB)
  Loan Calculator Example

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