Gryphon, Not Sheriff, Conducts Foreclosure Auction in Moraine

DAYTON, OHIO (STL.News) – 4600 S. Dixie Drive in Moraine, Ohio is up for auction following the closure of the business that used to be housed there. Foreclosure volume is down, but auctions still occur weekly in Ohio’s 88 counties.

Foreclosure auctions have, in the past, been conducted by county Sheriffs but a change in Ohio law in late 2016 allows for the use of real estate auction specialists, known as Private Selling Officers, as an alternative.

“We don’t know why the property went into foreclosure, but historically speaking, the owners would likely suffered some type of significant life change as a contributing factor,” stated Richard Kruse the court appointed Private Selling Officer and Managing Partner of Gryphon USA, Ltd. “While we are seeing a change in how the foreclosure auctions are managed, the reason people fall into foreclosure has stayed fairly consistent over the years.”

The building is a 7,790 +/- SF Class C, single story, office building built in 1955 with an additional 1,500 +/- SF on the lower level, with 21 parking spaces and 15 separate offices.

The auction will be conducted online at http://www.gryphonusa.com or http://www.privatesellingofficer.com and bidding will end at 1pm on Wednesday, August 7, 2019 along with another 19 commercial and residential properties throughout the state.

About Gryphon

Gryphon USA, Ltd. is a multi-faceted asset management and liquidation firm focusing on the operations and dissolution of single assets through and including entire companies. Gryphon maintains a receivership and asset management group, commercial auction practice and, in conjunction with Borror Properties Real Estate, a full service real property group.