1. When and where are mortgage foreclosure sales held?

2. How can I find out about mortgage foreclosure sales?

3. Can a person who was not involved in the foreclosure lawsuit bid on the property?

4. What is the procedure for a mortgage foreclosure sale?

5. Is there a fee required in addition to the sale amount at the time of final payment?

When and where are mortgage foreclosure sales held?
Mortgage foreclosure sales are held at 11:00 a.m. Tuesdays, Thursdays, and Fridays. The sales are held in Room 350 of the Orange County Courthouse, located at 425 North Orange Avenue, Orlando, Florida 32801.

How can I find out about mortgage foreclosure sales?
Notices about mortgage foreclosure sales are published in the Orlando Sentinel and other local newspapers twice a week. The mortgage foreclosure court files are kept in the Clerk's Circuit Civil Division, located at 425 North Orange Avenue, Room 310, Orlando, Florida 32801. The court file will contain information about the amount owed on the property, as well as a description of the property. However, the street address of the property will probably not appear in the court file.

Can a person who was not involved in the foreclosure lawsuit bid on the property?
Yes. A person who was not involved in the foreclosure lawsuit may bid on the property. This person is often referred to as a "third party bidder."

What is the procedure for a mortgage foreclosure sale?
Mortgage foreclosure sales must be scheduled on regular business days at 11:00 a.m. and may be continued until no later than 2:00 p.m. at the discretion of the Clerk to allow for the highest bidders to produce payment. The highest bidder must identify himself or herself by individual name. If the highest bidder is acting in a representative capacity, then the bidder must identify the name of the corporation, partnership, or individual(s) represented.

At the time of the sale, the successful high bidder must post with the Clerk a deposit equal to 5% of the final bid. The deposit will be applied to the sale price at the time of payment. If final payment is not made within the prescribed time period, the Clerk will re-advertise the sale and will pay all the costs of the sale from the deposit. Any remaining funds from the deposit will be applied toward the judgment.

All payments must be made in the form of cash, bank cashier's check, or practicing attorney's trust account check. Personal checks and fiduciary's trust account checks cannot be accepted.

Is there a fee required in addition to the sale amount at the time of final payment?
Yes. The final payment is due before 2:00 p.m. on the date of the sale. When the final payment is made, the bidder must also pay a registry of court fee in addition to the sale amount. This fee is made up of 2% of the first $500 and 1% of the remaining balance. It is collected pursuant to section 28.24, Florida Statutes.

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