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1. How do I find out if a house in the neighborhood is in mortgage foreclosure?

Foreclosures are not listed by the address. You may contact the Property Appraiser's office with the address to determine the owner's name. On the Clerk's website do a courts record search to determine if a foreclosure case has been filed.

2. What is foreclosure?

When property is mortgaged, the property is transferred to a creditor to be used as secured collateral on a loan. The individual exchanging the property for the loan becomes the mortgagor, and the creditor acquiring the property title becomes the mortgagee.

If the mortgagor defaults on the loan payments associated with the mortgage, the creditors can take legal action to enforce a mortgage against the property and prevent the mortgagor from keeping the property. This type of legal action is referred to as foreclosure.

3. Where do I file a foreclosure action?

For claims under $15,000 or $15,000 and above, you may file the foreclosure action at the Clerk of Courts office located in the Courthouse at:
Clerk of Courts
110 N Apopka Avenue
Inverness FL 34450

All mortgage foreclosure files are public record and can be viewed at the Courthouse.

4. What happens in foreclosure proceedings?

If the Court finds that the mortgagor is in default of the mortgage payments, final judgment will be issued in favor of the creditor. The final judgment sets forth the costs due to the plaintiff, such as principal charges, interest, costs of the suit, and attorney fees.

In addition to the assessment of costs, the final judgment will list instructions for the sale of the mortgaged property at a public auction. The instructions will include a description of the property to be sold; the time, place, and date of the sale; the amount due on the mortgage; and instructions to the Clerk's Office regarding distribution of the proceeds of the sale if someone other than the creditor is the successful bidder.

5. What is done prior to the foreclosure sale?

The original final judgment is filed and recorded with the Clerk's Office. In accordance with Florida Statute 45.031 (2), the Notice of Sale shall be published once a week for 2 consecutive weeks in a newspaper of general circulation, as defined in Chapter 50, published in the county where the sale is to be held. The second publication must be at least 5 days before the sale. The Proof of Publication must be filed with the Clerk of Court no later than three (3) business days prior to any and all sales which proves the sale has been properly advertised. Failure to comply will result in cancellation of the sale by the Clerk.

6. How do I find out about mortgage foreclosure sales?

You may visit the online foreclosure website. To view pending sales, select Auction Calendar. Anyone may bid on a property however they must be registered. Prior to participating in the sale, you will be required to place a deposit equal to 5% of your estimated successful final bid(s), either on this site via wire transfer, or in person in cash or cashier's check or money order.

Wire transfers will be accepted but you must add $5 fee per transaction or it will be deducted from your deposit amount. Wire transfers may take up to 48 hours to be received and processed. Visit the Online Foreclosure website.

7. May a person who is not involved in the foreclosure lawsuit bid on the property?

Yes, and this person is often referred to as a "third party bidder."

8. When and where are mortgage foreclosure sales held, and how are they conducted?

Mortgage foreclosure sales begin online at 10 a.m. on Thursdays. A $70 service fee is required by Florida Statutes to be paid by the plaintiff by 3 p.m. the day before the sale in order for the sale to be conducted. Properties are listed in case number order.

Other information regarding the property may also be listed including final judgment amount, parcel id, property address, and assessed value by the Property Appraisers office. The plaintiff may also choose to show or hide their maximum bid. For more detailed information, see Foreclosure Process and FAQs on the
Online Foreclosure website.

9. How do I cancel a sale or what if the party has filed a suggestion of bankruptcy?

To cancel a sale, a motion and order must be filed with the clerk's office prior to the sale. These will be forwarded to the judge for review, if signed the sale will be cancelled. If there is a suggestion of bankruptcy, a written notice must be filed with the clerk for the sale to be cancelled. This cannot be verbal.

10. Can anyone make an objection to the sale?

An Objection to the Sale may be filed within 10 days after the filing of the Certificate of Sale. This will stop issuance of the title until the Court has a hearing and makes a decision on the objection.

11. When is the Certificate of Title issued?

If no objections are filed within 10 days of the sale, the Clerk's Office will issue the Certificate of Title. However, if the 10th day falls on a Saturday, Sunday, or holiday, the title will be issued the next day. The Certificate of Title will remain unrecorded until the documentary stamps ($0.70 per $100) are paid.

12. Do I get a clear Title?

The Clerk's Office does not guarantee a clear title and is not responsible for any encumbrances on the property after the property is purchased at the auction. It is in your best interest to research the property for sale or hire someone to do the research for you.