Foreclosure Investing Florida
Get Your Free Auction List
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
Foreclosure of Lien
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.
Foreclosure of Mortgage
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:
- legal description of property
- date, time and location of auction
- case number
- names of Plaintiff and Defendants
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 BUY
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)
The portal page for Florida Mortgage Foreclosure Investors.
Foreclosure Investing Florida, the basics.
Foreclosure Types, What Is & Why Buy, Find Your Free Auction List.
Foreclosure Auction Basics
The Winning Strategy and Requirements
Foreclosure Liens
You had better know what is superior before you bid.
Foreclosure Lien Finding
Locate Liens and Mortgages using the case file.
ForeclosureInfo
What can be found where, creating a superiority checklist, chain of title tips, foreclosure file retrieval. Foreclosure Investing Florida.
Foreclosure Buying
Buying foreclosures before the auction. The winning strategy for buying from the property owners. Short Sales Info.
Foreclosure Deals
How to contact the bank first, after they obtained title from a foreclosure sale. Be first and win. Foreclosure Investing Florida.
Foreclosure Research Tips
D.I.Y. title search, title reports, info on how to conduct due diligence. Foreclosure Investing Florida.
Foreclosure Profits
How to keep your profit and save big money with these tips.
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