§ 626.80 — Time and manner

Iowa § 626.80

• Jurisdiction: Iowa
• Title XV: JUDICIAL BRANCH AND JUDICIAL PROCEDURES
• Ch. 626: EXECUTION

Text

1. The sale must be at public auction, between 9:00 a.m. and 4:00 p.m., and the hour of
the commencement of the sale must be fixed in the notice.
2. The sheriff shall receive and give a receipt for a sealed written bid submitted prior
to the public auction. The sheriff may require all sealed written bids to be accompanied
by payment of any fees required to be paid at the public auction by the purchaser, to be
returned if the person submitting the sealed written bid is not the purchaser. The sheriff shall
keep all written bids sealed until the commencement of the public auction, at which time the
sheriff shall open and announce the written bids as though made in person. A party who
has appeared in the foreclosure may submit a written bid, which shall include a facsimile
number or electronic mail address where the party can be notified of the results of the sale. If
a party submitting a winning written bid does not pay the amount of the bid in certified funds
in the manner in which the sheriff in the notice directs, such bid shall be deemed canceled
and the sheriff shall certify the next highest bidder as the successful bidder of the sale either
within twenty-four hours for an electronic funds transfer or forty-eight hours otherwise, of
notification of the sale results. A sheriff may refuse to accept written bids from a bidder other
than the judgment creditor if the bidder or the bidder’s agent in the action has demonstrated
a pattern of nonpayment on previously accepted bids.

Legislative History

[C51, §1908; R60, §3313; C73, §3082; C97, §4028; C24, 27, 31, 35, 39, §11728; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §626.80]