Frequently asked Questions
How do I learn more about Master Commissioner Sales?
We recommend that you contact a qualified real estate attorney. The Master Commissioner is an un-bias party to these legal actions. Neither he nor his staff will be able to provide you legal advice.
How can I stop my property from being sold by the Master Commissioner?
The Master Commissioner's Office does not have the authority to stop a sale. Upon Order of the Court, we immediately move towards scheduling the property to be sold. We do not cancel the sale unless ordered by the Court or requested by the attorney who filed the foreclosure.
Can I get a copy of the appraisal?
The appraisal amount, when available, will be listed in the "Properties for Sale" link of this website.
Is there a list of pending foreclosure cases or of upcoming sales?
There is no list of pending cases or of upcoming sales other than those shown on the link "Properties for Sale". When a property is referred to the Commissioner's Office for sale, the property is assigned a sale date and it is then posted on this website. In addition, the sale is advertised in the Owensboro Messenger-Inquirer the three Saturdays prior to the sale date. The sale notice appears in the classified section.
Can a sale be cancelled?
Yes, and they frequently are cancelled. As soon as the Commissioner's Office is notified of the cancellation, this website will be updated accordingly.
What does the "Amount of Judgment" mean?
That is the amount of debt owed to the party seeking to satisfy their judgment debt and may or may not have anything to do with the value of the property. It is also not necessary that the property sell for that amount.
Cash or Credit?
At the time of the sale the purchaser has the option of either paying the full purchase price or paying the required down payment (in most cases 10%) with the right to pay the balance in thirty (30) days. If the purchaser elects to pay less than the full purchase price, they must sign a bond and provide surety. In addition, the Commissioner is obligated to charge the purchaser interest at the rate of 12% per annum on the unpaid balance until it is paid in full. The Commissioner's Office accepts personal checks.
What if the purchase price is less than two-thirds (2/3rds) of the Master Commissioner's appraisal?
The owner has a six (6) month right of redemption.
What is a right of redemption?
It is the right held by the property owner giving them six (6) months to repay the purchaser the amount of money paid to the Commissioner plus interest of 10% per annum. (KRS 426.220). If more information is needed regarding the right of redemption, please contact an attorney.
What is a "Bond" and "Surety"?
The law requires that any purchaser who, at the time of sale, pays less than the full amount of the purchase price must sign a "Bond", which is prepared by the Commissioner's Office immediately after the sale, to pay the balance and provide surety for that bond. The "Surety" is a person who agrees unconditionally to pay the balance due should the purchaser, for whatever reason, fail to pay the balance due within thirty (30) days. The Surety must own real estate in Daviess County, Kentucky.
Can I see or inspect the property before the sale?
The Master Commissioner does not maintain keys to the foreclosed properties. The owner(s) or the occupant(s) of the property are the only persons able to give permission to view the property, but they are under no obligation to do so. Other information regarding the property may be found at the Property Valuation Adminstrator's office or its website.
Will I receive clear title?
The Commissioner's Office does not warrant or guarantee in any manner that the title is free and clear of encumbrances or defect. However, the purchaser or their attorney has ten (10) days from the date of the sale to have a title examination on the property to ascertain whether such conditions exist and, if so, to file their objections with the Court. Within that 10-day period, the purchaser is strongly advised to seek the advice of an attorney regarding a title examination.
Who pays the property taxes?
The purchaser is required to pay all taxes and assessments upon the property for the current tax year and all subsequent years. All other delinquent taxes or assessments upon the property for prior years are normally paid from the sale proceeds or as stated in the judgment.
When will I receive a deed and possession of the property?
Due to the ten (10) day period that is allowed for the purchaser to have their title examination and file any necessary objections to the sale, and the time needed to secure the necessary Court Orders, it generally takes four (4) to five (5) weeks before a deed is ready for delivery. During that period the purchaser has no right to possession. Even though a deed will not immediately be delivered to the purchaser, they have an equitable and insurable interest in the property and are urged to immediately secure an insurance policy on the property for its full value.
What if someone is currently living in the property?
In most cases the residents voluntarily leave before a deed is given to the purchaser. Should they then refuse to vacate, the purchaser will need to obtain an order from the Circuit Court ordering them to vacate. The Commissioner's Office is not involved in that process.