Foreclosure Auctions

How does the online auction work?

Auctions are held on properties offered for sale to the highest bidder. The Clerk's Office conducts the sale via public auction on the Internet in accordance with Florida Statutes.

Anyone may bid on the properties, and must register with the clerk on this web site prior to the sale. The site provides information for each sale item, including the name of the owner, legal description and the opening or base bid.

At the date and time specified for the sale, each item is auctioned in case number order and sold to the highest bidder.

Prior to the time of the sale, the successful high bidder must post with the Clerk a nonrefundable deposit of 5% of the anticipated high bid for each item to be bid on. The bidder must pay the balance of the final bid plus the court registry fee, electronic service charge, publication fee(s), clerk’s service charge, if applicable, by 12:00 PM ET the next business day following the sale.

The advance deposit can be made in person at 140 W. Flagler Street, Rm. 1502, Miami, Florida 33130 by cash or cashier’s check. Deposits made in person must be made by 3:00 PM ET the day prior to the sale. Advanced deposits may also be made on the website by wire transfer or via electronic check (ACH). ACH deposits require 4 full business days to be processed and wire transfers require 24 hours. These deposits will not be available for bidding until such funds have cleared. Please instruct your bank to include the bidder # on the wire information.

Final payment may only be made by wire transfer or in person at 140 W. Flagler Street, Rm. 1502, Miami, Florida 33130 by cash or cashier’s check by 12:00 PM ET the next business day following the sale.

Upon payment of the remainder of the bid, the Clerk will issue a Certificate of Sale.

A Certificate of Title may be issued by the Clerk of the Circuit Court after ten (10) full days have elapsed from the issuance of the Certificate of Sale and provided there is no other action relating to the subject proceeding.

What equipment and software will I need?

There is no special software or hardware needed for the sale. In order to participate, bidders must have a computer with access to the Internet. The Clerk's office will provide a limited number of public computers for those without Internet access. Please contact a foreclosure clerk at (305) 275-1155 for availability.

Do I have to be present on the day of the sale?

On-line sales will be conducted from Mondays through Fridays, excluding holidays.

What do I need in order to participate?

In order to participate in the sale, bidders must register on this site to get a Username and Password and place a valid deposit for your bids to be considered.

How much is the deposit?

You will need to place a deposit equal to 5% of your estimated high bid for each item you anticipate winning at the sale.

How do I pay for my deposit?

The advance deposit can be made in person at 140 W. Flagler Street, Rm. 1502, Miami, Florida 33130 by cash or cashier’s check. Deposits made in person must be made by 3:00 PM ET the day prior to the sale.

Advanced deposits may also be made on the website by wire transfer or via electronic check (ACH). ACH deposits require 4 full business days to be processed and wire transfers require 24 hours. These deposits will not be available for bidding until such funds have cleared. Please instruct your bank to include the bidder # on the wire information.

How do I pay for my winning bids?

Final payment may only be made by wire transfer or in person at 140 W. Flagler Street, Rm. 1502, Miami, Florida 33130 by cash or cashier’s check by 12:00 PM ET the next business day following the sale

Can other participants see my bids?

No.

How does the bidding work? What is a proxy bid?

Auction participants enter their highest acceptable bid for a property. The auction system then checks all other bids and enters a bid on your behalf at $100.00 more than the next highest bidder (proxy bidding). The system stops entering bids for you when your highest acceptable bid is reached. When an auction closes, each property is awarded to the participant with the highest bid.

What happens in case of a tie bid?

If identical bids are placed prior to the auction start date and time the first participant to place the bid will be deemed the official high bid. Tie bids are not allowed once the auction begins.

If I am the high bidder, how long do I have to pay for the property?

If you are the successful bidder for property at a foreclosure sale, the balance of the final bid amount plus the court registry fee, electronic service charge, publication fee(s), clerk’s service charge, if applicable, must be received by the Clerk's office by 12:00 PM ET the next business day following the sale. Accepted forms of payment are wire transfer, cash, and cashier's checks.

What if I fail to make the final payment or choose not to purchase the property?

Failure to pay the balance of the final bid plus all fees due by 12:00 PM ET the next business day following the sale will result in forfeiture of the deposit and nullification of the sale. The forfeited deposit will be reduced by the registry fee and used to re-advertise and pay all cost of the sale. Any remaining funds from the deposit shall be applied towards the judgment. The Clerk will issue a Certificate of Incomplete Sale.

What happens to leftover deposit money?

Unused deposit money can be used to pay for the advanced deposit on future bids, or you can request a refund by clicking “Request Refund”.

Advanced deposits made electronically via ACH will be refunded electronically to the same account. Refunds for deposits and payments not made by ACH will be mailed a paper check from the Clerk’s office. Please allow approximately two weeks after the close of the auction for the processing of refunds.

How do I request a refund?

Funds on deposit are only returned when requested. To request a refund, click “Request Refund.

What is the overtime period? Why does the auction keep extending?

Any bid placed with less than 30 seconds remaining on the auction clock will automatically extend the bidding period by an additional sixty (60) seconds.

Buying a Foreclosed Home

For many homebuyers, foreclosed or (real-estate-owned homes can offer an excellent opportunity to make homeownership a dream come true. Many federal, local and private sector programs are available to help prospective buyers navigate the path to their new home.

Buying process

Buying a foreclosed property can be a complicated, but ultimately rewarding process in terms of getting more home for your purchasing power, stabilizing neighborhoods, and revitalizing communities. Learn the ins and outs of being an informed buyer as well as protecting your rights before you buy.

After you have found a property you are interested in, there are many other things to check up on:

To promote neighborhood stabilization through higher owner occupancy rates, Fannie Mae created First Look. This program encourages the purchase of foreclosed homes by owner occupants, rather than investors, by allowing owner occupants (or any organization using public funds) to submit an offer on a Fannie Mae property without competition from investors for the first 15 days.

Many of these homes offer flexible HomePath financing, which is available only on Fannie Mae homes. You can search thousands of move-in ready foreclosed properties.

Homeownership Programs

Neighborhood Stabilization Program

Homeownership assistance is available for the purchase of County-owned Neighborhood Stabilization Program (NSP) homes. If you are eligible to purchase a foreclosed home, the County may have the assistance you need. Purchases must be made in any of the priority areas throughout the County.

Homeownership Assistance

The Miami-Dade Economic Advocacy Trust Homeownership Assistance Program is designed to address the need of low/moderate income families in Miami-Dade County by providing down payment and closing costs assistance to purchase their first home.

U.S. Housing and Urban Development (HUD) - homes for sale

HUD sells both single family homes and multifamily properties. Check them out - one might be just what you're looking for!

Foreclosure Data

All information provided above is subject to change, all information and further details can be found out via the Miami-Dade county website: Foreclosures - Miami-Dade County (miamidade.gov)