Buying a Foreclosure House for Sale in Florida Made Easier

by on States

Buying a foreclosure house for sale in Florida has been made easier with the launching of another public online auction site in the state.

Miami-Dade has become the 12th county in Florida to launch its online foreclosure auction site. With a record backlog of about 115,000 foreclosure filings, the county hopes to move around 200 cases every day, eliminate the backlog and prevent the accumulation of record numbers of foreclosure cases in the future.

Miami-Dade, which has grown to become the biggest county in the U.S. based on population, has posted record numbers of foreclosure filings over the past months. It is now seventh in a ranking of counties based on pre foreclosed homes and completed foreclosures.

Last week, the county conducted its first online auction and sold off about 40 foreclosed properties. As the auction site becomes more enhanced and more popular, the county hopes to increase sharply its sales in the next foreclosure auctions to be held.

According to Harvey Ruvin, clerk of courts for Miami-Dade County, any prospective buyer can buy a foreclosure house for sale in Miami-Dade through the site just by making just a few steps – make the deposit, place bids, track the auction proceedings and then pay for the property if successful in the bidding., the Florida-based company that has been holding Internet auctions for the 11 other counties in Florida, was also the one chosen by Ruvin to conduct the Miami-Dade auctions.

Since the housing meltdown started, Miami-Dade has been experiencing around 7,000 new foreclosure postings every month and has been inundating court employees with paperwork. Compared to handling just around 5,000 foreclosures every year before the crisis, court employees had to use every second of their work time to be able to push their load.

Ruvin expects to save 23,000 man-hours per year with the online auctions and to move foreclosure properties three times faster. Veteran foreclosure bidder Julian Dominguez also said that the online auctions will prevent novices from getting bullied by regulars. hopes that the success of the first counties that have been holding online auctions in Florida will encourage other states to pass laws allowing online foreclosure auctions.

Another Florida county, Broward County, plans to launch its online foreclosure auction in the first quarter this year to help every family interested in acquiring a lower-priced foreclosure house for sale and to help the county move its foreclosure cases.