The State of Florida (between its major cities is found: Miami, Fort Mayers, Orlando, Tampa, Jacksonville, West Palm Beach, Tallahassee, Mobile, Gainesville, Panama City, etc) carried out by the judicial foreclosure. To make a person lose their home foreclosure in the State of Florida should elapsed approximately about five months. Period of foreclosure pre-foreclosure to make an auction of houses in the State of Florida, the lender (Bank or other entity) must present a judicial action and records of a notification of a lawsuit against the borrower. The lender must notify the debtor and to any of the affected parties, in person or in some cases by mail or publication. If the borrower does not respond to the lawsuit within a specified time period, the county clerk may declare the failure to pay the borrower’s and likewise the lender can ask the Court to issue a final judgment. If the Court finds against the borrower, the sentence shall include the total amount due the lender and mortgage auction date. The lender is not bound by State law to inform the borrower before starting the foreclosure process.
The borrower can stop foreclosure until the date of sale through the total payment due the lender. Notice of sale / auction date of sale of the property is generally 20A 35 days after the Court ruling, but this can vary depending on the Court. The clerk of the Court issued a notice which specifies data from the House at auction as the location, the date and time that is hara the sale. The notice shall be published once a week for two weeks, the second notice must appear at least five days prior to the sale. The Secretary general, oversees the sale, which normally occurs in the County Court at 11: 00 in the morning of the day of sale.
The winning bidder must provide a deposit of 5 per cent and payment of the remaining balance at the end of the day. If the property is not sold in the first attempt, planned a new date with a minimum of 20 days. After a successful sale, the seller gives a certificate of sale to the winning bidder within the 10 days following the sale, the transfer of property is to the successful tenderer (if nobody questions the sale). In most cases, the borrower has no right of redemption after the issuance of the certificate of sale. James Garcia has been working in ListadeCasa.com to study the market of foreclosures, helping buyers in the finer points of the houses at auction.