Gryphon USA completes Federal Foreclosure Auction

COLUMBUS, Ohio, July 22, 2021 /PRNewswire/ — Gryphon USA, a national real estate auction firm based in Central Ohio, has completed an auction of residential real estate for the U.S. District Court for the Southern District of Ohio under an updated model that could become the standard in other Districts.

Gryphon President Richard Kruse said a residential property in Milford Center, Ohio sold for $555,721 – including a 10 percent buyer’s premium – after completion of the online auction on July 14. The auction attracted 15 registered bidders.

Chief Judge Algenon Marbley of the district court on May 7 signed the order appointing Kruse of Gryphon USA as Special Master in the sale of the Union County residential property. It marked the first time a federal judge in Ohio has worked through a private-sector marketeer in the sale of a foreclosed property in recent history.

“Private sales of financially distressed real estate shorten…

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