Judge Needs Motion to Confirm Sale of Burton Fox Inn
Because the owner of the Burton Fox Inn, Charles Imars, took advantage of a new law that allowed him to privately auction off the foreclosed property, the transfer was delayed and the top bidder is not happy.
Because the owner of the Burton Fox Inn, Charles Imars, took advantage of a new law that allowed him to privately auction off the foreclosed property, the transfer was delayed and the top bidder is not happy.
Ross Hornak, owner of TRI Excavating and Construction of Burton, recently told the Geauga County Maple Leaf the property had not transferred and he thought it was still tied up because a decision hadn’t been made in the courts about whom he should pay.
He bought the historic inn the end of April for $140,400 and, as of last week, had only paid the 8 percent buyer’s premium.
“I have not been contacted by anyone. The sale has not closed,” Hornak said.
It turns out Hornak was unaware it was up to him to take action through the court.
Geauga County Court of Common Pleas Judge Forrest Burt said June 7 it is up to the auctioneer, John Froelich, to let the buyer know he needs to file a motion to confirm the sale of the property.
“Apparently no one told the buyer,” he said, adding Hornak will be contacted soon and told to file the motion. “Then we can transfer the property.”
Most of the time, when a foreclosed property is auctioned off, the bank buys it back, understanding the motion needs to be filed, Burt said.
Before the new legislation went into effect, the county sheriff would auction off foreclosed property, and the buyer would have been informed by the sheriff’s office of the need to file a motion, he said.
Regardless, once the sale closes, it will be up to the court to apportion the $140,400 — minus about $44,000 in back taxes due to the Geauga County Treasurer — to those individuals still owed money by Imars, Burt said.
