Understanding the Brevard County Foreclosure Auction
In Florida, mortgages and other liens (mechanic’s/contractor’s liens and also condominium and homeowners association liens for unpaid dues) are foreclosed through a judicial process in which the property is eventually sold at auction to the highest bidder. There has been less volume in the past several years due to the bull market in real estate, particularly residential. There can be great opportunities to find properties selling at a discount at the foreclosure auction, but there can also be tremendous risks. The properties are sold without any warranties as...
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