SHERIFF'S SALES
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GENERAL INFORMATION
Sheriff's sales are the means used to satisfy a money judgment out of the personal or real property of the judgment debtor, to protect the value of perishable property under levy of writ of attachment by converting it to cash, or to enforce a lien against property under foreclosure proceedings.
Prospective bidders should refer to Sections 701.510 to 701.680, inclusive, of the California Code of Civil Procedure for provisions governing the terms, conditions, and effect of the sale and the liability of defaulting bidders.
The date, time and location of the Sheriff's sales will be stated on the Notice of Sale. The Notice of Sale will also contain a general description of the property to be sold. The Sheriff is selling only the right, title and interest of the judgment debtor(s) in the property. It is the responsibility of any potential buyer to conduct the appropriate research to determine what the debtor's interest is in the property being sold. Private firms, that conduct title searches for a fee, can be found in the Yellow Pages to help provide a prospective buyer with full property information such as liens, unpaid taxes, and encumbrances. The Sheriff's Office makes no guarantee or warranty regarding the condition, value, or functionality of any item sold. Every item is sold as-is.
Sheriff's sales are made at public auction to the highest bidder for cash in lawful money of the United States. The purchaser at a sale shall pay in cash or by certified check or cashier's check, made out to the Riverside County Sheriff. Bidders must have the cash, certified check or cashier's check with them at the time of the sale to cover the full amount of their bid or the amount of the deposit required for a credit bid pursuant to CCP 701.590.
The Court Services' Division conducting the sale will be indicated at the top of the sale notice. It is recommended that you call the Court Services' office conducting the sale, the day prior to the sale, to confirm that the sale has not been cancelled or postponed.
CREDIT BIDS
This code section outlines the details for making a credit bid at a Sheriff's sale. Please note, the deposit is forfeited if the balance due, plus costs
and interest, is not paid within 10 days after the date of the sale.
CCP 701.590
(a) Except as otherwise provided in this section, the
purchaser at a sale shall pay in cash or by certified check or
cashier's check.
(b) The judgment creditor may bid by giving the levying officer a
written receipt crediting all or part of the amount required to
satisfy the judgment, except that the levying officer's costs
remaining unsatisfied and the amount of preferred labor claims,
exempt proceeds, and any other claim that is required by statute to
be satisfied, shall be paid in cash or by certified check or cashier's check.
(c) If the highest bid for an interest in real property sold
exceeds five thousand dollars ($5,000), the highest bidder may elect
to treat the sale as a credit transaction. A person who makes the
election shall deposit at least five thousand dollars ($5,000) or 10
percent of the amount bid, whichever is greater, and within 10 days
after the date of the sale shall pay the balance due plus costs
accruing with regard to the property sold and interest accruing at
the rate on money judgments on the balance of the amount bid from the
date of sale until the date of payment.
(d) If the highest bid for an item, group, or lot of personal
property sold exceeds two thousand five hundred dollars ($2,500), the
highest bidder may elect to treat the sale as a credit transaction.
A person who makes the election shall deposit at least two thousand
five hundred dollars ($2,500) or 10 percent of the amount bid,
whichever is greater, and within 10 days after the date of the sale
shall pay the balance due plus costs accruing with regard to the
property sold and interest accruing at the rate on money judgments on
the balance of the amount bid from the date of sale until the date
of payment.
(e) A person who makes the election under subdivision (c) or (d)
is not entitled to possession of the property sold until the amount
bid, plus accruing costs and interest, have been paid.
.
REAL PROPERTY SALES
DOCUMENTARY TRANSFER TAX: The purchaser of any real property at a Sheriff's sale is responsible for paying the Documentary Transfer Tax required by the County Recorder. The tax is $0.55 cents per every $500 of the total amount paid for the property. If the property is located within the City of Riverside, the tax is $1.10 per $500. Prior to recording the deed, the purchaser of the real property will need to provide the Sheriff with a check made out to the County Recorder for the amount of the Documentary Transfer Tax.
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