2127.33 Price at which real estate may be sold. - Ohio Statutes

2127.33 Price at which real estate may be sold.

Where the sale authorized by a court as provided in section 2127.32 of the Revised Code, is private, the real estate shall not be sold for less than the appraised value. When the sale is at public auction the real estate if improved shall not be sold for less than two thirds of the appraised value, or if not improved, for less than one half of the appraised value. In private sales if no sale has been effected after one bona fide effort to sell under this section, or if in public sales the land remains unsold for want of bidders when offered pursuant to advertisement, the court may fix the price for which such real estate may be sold or may set aside the appraisement and order a new appraisement. If such new appraisement does not exceed five hundred dollars, and upon the first offer thereunder at public sale there are no bids, then upon the motion of any party interested the court may order the real estate to be readvertised and sold at public auction to the highest bidder.

Effective Date: 10-01-1953