What is Due Diligence?
Due Diligence is the research you, as the buyer, complete before making a bid. This includes questions to the County, and Trustees, or a visit to the parcel itself. We strongly encourage you to feel satisfied about your knowledge of the property before bidding. Please note as well banks do not lend money on dirt. If you do not have the funds to buy the property, do not bid and be awarded the property as the high bidder thinking you can go to the bank and acquire a loan. As the winning bidder or the highest bidder you have 48 hours or 2 days to complete the transaction and pay us in full for the property along with the deeding information. There just isn’t time for you to go to the bank and acquire a loan to buy the property. If you do not have the money then do not bid.. .
Indiana expects to receive property for the benefit of lost owners. How do they become lost? Addresses change, the property is lost or misplaced, records of amounts owed are destroyed, people pass away without adequate records of assets, etc. Indiana does not want to receive the property of an owner who has an ongoing relationship with the holder or whose last known address in the holder’s records is actually their current address. For this reason, Indiana and other states require that holders attempt to contact the owner about the property in advance of reporting it. Indiana statute IC 32-34-1-26 (opens in new window) requires that due diligence be performed on all unclaimed property of $50 or more.
