Foreclosure Investing Florida
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Foreclosure Investing Florida, the basics. The purpose of this page is to identify what a foreclosure is, the different types of foreclosing entities and to locate auction lists for free. What is a foreclosure? In short, a foreclosure is the result of an unpaid debt. The debt can be caused by a lien or mortgage. In either scenario, a judgment in favor of Plaintiff has to be granted for an auction to occur. By granting of the judgment in favor of Plaintiff (Plaintiff is party holding the lien or mortgage) the Plaintiff has supported the claim and fulfilled the requirements of law to enforce the lien or mortgage. 2 Types of Foreclosures
The unpaid debt, if it is a lien, resulted in a "Claim of Lien" being recorded into the official records. A lien can be the result of unpaid contractors, service providers, government entities (ie: code enforcement liens), home owners associations, etc, with the most common liens being from county governments, home owner associations and contractors. The lien itself may have been established by the granting of judgment in another case. If the unpaid debt is a mortgage, a "Complaint" will be entered against the debtor. Bank mortgages are not the only mortgages which can be found in default, you will also frequently find government backed mortgages and private mortgage holders foreclosing on mortgages as well (HUD, VA, Freddie, Fannie, individual mortgagors,). Once recorded into the official records, the Complaint begins a paper trail of recorded documents which will result in the foreclosure auction, unless debtor pays up.
Find Your Auction List For Free Auctions are conducted by the Clerk of Circuit Courts in every county, occuring as necessary through out the year. The NOTICE OF SALE must be advertised in a newspaper of general circulation in the county in which the property resides. The advertisement is to run 4 consecutive week, prior to the auction occurring. The notice of sale contains:
Nearly all County Clerk of Courts home pages will contain a link to their foreclosure sales. You can also locate the Clerk of Courts and auction links here. This is what you would typically expect a county auction list to look like. Foreclosure Investing Florida / Miami-Dade County While some counties require the legal notice to be advertised in a specific newspaper, other counties, such as Broward, have a list of newspapers from which the attorney of Plaintiff's can choose. If there is no Clerk of Courts link on their home page and you can't locate a newspaper ad, the listings can be picked up at the Clerk's office. The name of Plaintiff's is the entity or person holding the lien or mortgage. The name of Defendant's is the person in ownership of the property or parties holding an interest in the property. WHY Foreclosure Investing Florida Property ownership for less than market value. We have many times been able to obtain properties for 50% of value but never have we purchased a property for 3% of value, which many gurus claim they can do at will. I have only heard of a few instances where this has occurred over the past 30 years. The closest we have come is a tax deed we purchased for 6% of value, and that came after tens of thousands of properties researched since 1980. Here is a good example of what can be purchased:4 bedroom/3 bath 2700sqft built in 1990, we paid 55% less than market value. 
The information found here is my opinion and should not be interpreted or construed as legal or professional advice. No legal or professional advice is being given and the use of this information is at the readers own risk and peril. It is advised that those considering this investment should seek qualified legal and professional services.
Mortgage Foreclosure (on nav bar)
Foreclosure Investing Florida, the basics.
Foreclosure Auction Basics
Foreclosure Liens
Foreclosure Lien Finding
ForeclosureInfo
Foreclosure Buying
Foreclosure Deals
Foreclosure Research Tips
Foreclosure Profits
Get Dated Information Or Go To The Source And Get The Deal Page Tags: Florida Foreclosure, Foreclosure Invest Florida, Florida Real Estate Invest, Florida Invest, Foreclosure List, Foreclosure Types, Foreclosure Liens |
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