Foreclosure Sales

Before the sale begins, everyone should be aware of the requirements of Florida Law. All sales are for cash. This can be a certified cashier's check. Anyone bidding on the property should have already made financial arrangements so that they can meet the requirements of the sale. If a person other than the Plaintiff is the successful bidder, they must immediately post a 5% deposit of the bid amount. If the balance of the bid is not received by 4:30 p.m. today, it may be necessary to void the sale and advertise the property for resale. If this occurs, the initial deposit of 5% shall be used by the court to pay all costs of the sale and any amount remaining is directed to be applied toward the judgment.

The successful bidder is also required to pay for the documentary stamps on the Certificate of Title, and any other just costs awarded in the final judgment, together with a registry of court fee which is calculated in the bid amount – 3% on the first $500.00 and 1.5% on the balance.

A purchaser at a judicial sale takes the property subject to any defects, liens, encumbrances and all matters of which he has notice or of which he could have obtained knowledge.

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