DATE/TIME: All Sheriff Sales are conducted at 10:00 a.m. Sales are held Tuesday - Thursday. See the sale calendar or the notice. PLACE: The front lobby of the Polk County Justice Center, 1005 W. Main Street, Balsam Lake, WI 54810.
GENERAL TERMS: All property is sold “AS IS” and not available for viewing. The property is also subject to all liens and encumbrances. 10% of the successful bid must be paid to the Polk County Clerk of Courts at the time of sale in cash, cashier’s check, or certified funds from the bank (personal checks cannot and will not be accepted). You must have 10% of whatever you are prepared to bid with you. The balance of the successful bid must be paid to the Polk County Clerk of Courts in cash, cashier’s check, or certified funds within 10 days of the Confirmation of Sale. Failure to pay balance due will result in forfeit of deposit to the plaintiff. Buyer to pay all applicable Wisconsin Real Estate Transfer Tax. Buyer to pay the cost of title evidence.
GENERAL CONDITIONS: Foreclosure sales are for real property only. The Sheriff’s Office does not know whether or not persons occupy the property. Further, we cannot give permission for any prospective bidders to enter and inspect and structure that may be located on the property to be sold. The Sheriff’s Office cannot provide legal advice on how to properly investigate what financial obligations may be outstanding. Other defendants listed on the Notice of Foreclosure Sale may have a financial interest in the property. The Sheriff’s Office cannot provide legal advice as to how to determine what financial interest is outstanding. Should you have a legal question, we recommend you consult an attorney.
The Sheriff’s Office does not have specific information about the condition of the property or other pertinent information (i.e. how many bedrooms, how many bathrooms, is it lake property, etc.). Any questions about the property should be directed to the attorney’s office handling the sale.
In addition to the newspaper advertising, all notices of sales are posted for public viewing at the Polk County Justice Center, one location within the Town where the property is located (usually the Town Hall), and on this website.
Sales of property are “open-type” auction sales (no sealed bids). A minimum bid is normally bid on the first round by the Plaintiff. All bidders are required to have their 10% down payment upon completion of the bidding. That down payment must be in the form of cash, cashiers check or certified funds available. All bids are to be "In person". No faxed, mailed, or emailed bids are accepted. If the highest bidder does not have the required down payment the property will be re-sold or offered to the next highest bidder by choice of the plaintiff.
The highest bidder at the sale shall be the Purchaser. If any dispute arises as to who may be the highest bidder, the property will be resold.
In order to obtain a clear title one must satisfy all superior liens and encumbrances. If a purchaser does not complete the sale, the purchaser can be held liable for their deposit, and for all losses and expenses. Please contact the attorney for the Plaintiff if you have any questions regarding the deed or any other matter after the sale.
If the property you purchase is occupied, it is your responsibility to have the occupants removed, making sure to follow proper eviction processes.
In some cases, the owner can redeem the property, even after the sale, up until the time of the Confirmation Hearing. The Confirmation Hearing is typically held two weeks to one month after the sale date. At this time, the court reviews the sale results as well as any challenges declared. Once the court approves the sale, the new deed will be issued. By law, the owner can declare bankruptcy within that same time period. If you are the successful bidder, you do not own the property until you are issued the Deed to the property which is usually after the confirmation of sale and full payment of the bid.
Each property is sold subject to restrictions of record which are unknown to the Sheriff and subject to any unpaid taxes and water bills or assessments, and such state of facts as an accurate survey and physical inspection of the premises may reveal.
SOME ADDITIONAL CONDITIONS OF SALE ARE LISTED BELOW THAT MAY BE ANNOUNCED AT THE TIME OF SALE. THIS IS NOT A COMPLETE LIST AND IS PROVIDED AS INFORMATION ONLY:
There are times when the sale of property is not completed on the date advertised because of adjournments, settlements or bankruptcies. You may call the Sheriff’s Office Civil Process desk at (715) 485-8354 to determine the status of the sale. Sales can be cancelled or adjourned up until the time of sale.
*The above information is provided as general information only and is subject to change.