 Purchase
a Foreclosed Property
When and where are mortgage foreclosure
sales held?
Mortgage foreclosure sales are held on Tuesday, Wednesday, Thursday,
and Friday of every week. The sales are held in Room 350 of the
Orange County Courthouse,
located at 425 North Orange Avenue, Orlando, Florida 32801. For
sale cancellations and title information, call 407-836-2278.
How can I find out about mortgage
foreclosure sales?
Notices about mortgage foreclosure sales are published in the Orlando
Sentinel and other local newspapers twice a week. The mortgage foreclosure
court files are kept in the Clerk's Circuit Civil Division, located
at 425 North Orange Avenue, Room 310, Orlando, Florida 32801. The
court file will contain information about the amount owed on the
property, as well as a description of the property. However, the
street address of the property will probably not appear in the court
file.
You can use myclerk to search for information on upcoming
foreclosure sales and notices of cancellations.
Click here
to learn how.
Can a person who was not involved
in the foreclosure lawsuit bid on the property?
Yes. A person who was not involved in the foreclosure lawsuit may
bid on the property. This person is often referred to as a "third
party bidder."
What is the procedure for a mortgage
foreclosure sale?
Mortgage foreclosure sales must be scheduled on regular business
days at 11:00 a.m. and may be continued until no later than 2:00
p.m. at the discretion of the Clerk to allow for the highest bidders
to produce payment. The highest bidder must identify himself or
herself by individual name. If the highest bidder is acting in a
representative capacity, then the bidder must identify the name
of the corporation, partnership, or individual(s) represented.
At the time of the sale, the successful high bidder must
post with the Clerk a deposit equal to 5% of the final bid. The deposit will
be applied to the sale price at the time of payment. If final payment
is not made within the prescribed time period, the Clerk will re-advertise
the sale and will pay all the costs of the sale from the deposit.
Any remaining funds from the deposit will be applied toward the
judgment.
All payments must be made in the form of cash, bank cashier's check,
or practicing attorney's trust account check. Personal checks and
fiduciary's trust account checks cannot be accepted.
Is there a fee required in addition
to the sale amount at the time of final payment?
Yes. The final payment is due before 4:00 p.m. on the date of the
sale. When the final payment is made, the bidder must also pay a
registry of court fee in addition to the sale amount. This fee is
made up of 3% of the first $500 and 1.5% of the remaining balance.
It is collected pursuant to section 28.24, Florida Statutes.
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