Foreclosure Auction: A public foreclosure auction will take place and the property may be sold at the auction to the highest bidder. The lender issuing the default can also purchase the property and sell it independently in a private sale. At this time, the homeowner must vacate the property ...
the Supreme Judicial Court has ruled that a lender’s defective notice of default is grounds to void and nullify a foreclosure sale — even after the property was purchased at auction by a third party without knowledge of the problem. The decision isPinti v...
Speak to the experienced Florida foreclosure lawyer David Charlip if you are facing foreclosure. Contact us at (305) 354-9313 for a free consultation.
The property gets listed for a public foreclosure auction, but most auctions receive no bids given the lack of access inside, so most lenders have to buy the property back. Then, after more legal work, they can evict any remaining residents before selling it as anREO propertyon the market....
Pre-foreclosure: This is the period before the property goes on sale at the foreclosure auction. The pre-foreclosure period allows time for you to research the property and possibly contact the homeowners with a deal (more about this later). For the homeowners, it's also the period of time...
(c) Legitimate need of the owner/lessor to repossess his or her property for his or her own use or for the use of any immediate member of his or her family as a residential unit: Provided, however, That the lease for a definite period has expired: Provided, further, that the ...
-NTS (scheduled for auction) -REO (bank owned) Even when a property becomes bank owned, it may take months (a year) to get it on the MLS. In total over 5,800,000 properties are delinquent or in some stage of foreclosure. When the existing inven...