A foreclosure, also called a judicial sale, is a court-ordered process of selling real property at public auction to recover an amount owed in a civil final judgment. The process is governed by Chapter 45 of the Florida Statutes and the Florida Rules of Court. 

Know Before You Bid

REQUIREMENTS

To bid on real property at a foreclosure auction, you must:

• Create an online auction account;
• Deposit guaranteed funds into your online auction account to use as a non-refundable deposit.
  For information on type of accepted guaranteed funds, consult our Property Auction FAQs.

Anyone can bid on real property at a foreclosure auction.

Online Auctions

Foreclosure auctions are conducted online, pursuant to F.S. 45.031(10). Sales may be scheduled Monday through Friday, excluding holidays, and begin at 9:00 A.M. 

Buyer Beware

It is the bidder's responsibility to perform due diligence research and to fully understand the process, time frames, limitations, and risks involved when purchasing real property at auction. The Clerk and Comptroller's office is unable to provide legal advice.

Failure to Pay Winning Balance

Failing to pay the balance due on a winning auction will cause you to lose your non-refundable deposit.

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Bid Online

Create an Online Auction Account

To register for an online auction account you will need to have the following:

• Email address;
• Current name and address;
• Name in which the property will be deeded, if an auction is won; and
• Funding source.

Attend Online Training Session

Online training is provided to learn how to use the auction website. Simply register for a date and time that works for you. 

Verify System Requirements

Certain system requirements must be met to use the online auction website. If you don't have access to a computer to research and bid on foreclosure properties, public computers are available at the Clerk and Comptroller's Public Access departments (in Sarasota and Venice). Computers are available on a first come, first served basis. Please review building access health and safety requirements for the latest updates on health safety measures.

Research Scheduled Property Auctions

All scheduled foreclosure sales are listed on the auction calendar by case number. Using the online auction site, you can view relevant property information including the court's final judgment and the Property Appraisers assessment.

Deposit Funds

A deposit of guaranteed funds is required before you can bid. Fore each property you intend to win, the amount you deposit equal 5% of your maximum bid.

If you are the winning bidder, your deposit will be applied to the total cost of your purchase. If you are not the winning bidder, you will be able to use your funds for other auctions, or request a reimbursement.

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Save Time

Proxy Bidding

You do not need to be online at the exact time of the auction as the online auction system provides a proxy bidding service. Learn how the proxy bid service works.

Save Yourself a Trip

The fastest way to pay your balance when you win an auction is to initiate a wire transfer at your bank. Your payment shows up in the online auction system within the hour, saving you a trip to our office to pay by cash or cashier's check.

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Save Money

Don't Lose Your Deposit

Winning bidders who do not pay their balance by the deadline forfeit their deposit. To ensure you do not lose your non-refundable deposit, and the property you won, pay your balance by the due date and time stated in your winning confirmation email.

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What to Expect

Before the Auction

• Cancellations or Postponements - Auctions can be canceled or postponed at any point. Be sure to check the auction calendar for changes in the auction status.You can also review the court record for changes to the case that may cause a cancellation or postponement of the sale date.
• Deeding Information - Before the auction, you will need to designate the name in which you would like to take ownership of the property. If you have questions on how to deed the property, consult an attorney. The Clerk and Comptroller cannot provide legal advice on how to take ownership.
• Sufficient Funding Available - It is the sole responsibility of the bidder to ensure they have sufficient funds available in their online auction account prior to the start of the sale to cover the auction deposit for each property. The Clerk and Comptroller's office cannot guarantee processing of your auction deposit the morning of a sale. Review the deposit requirements and time frames.

On the Auction Date

Sales begin at 9:00 A.M. EST. If multiple auctions are scheduled on the same date and time, the order is determined by case file number. For information on how the online auction proceeds, including proxy bidding, overtime, and time bids, review the online foreclosure auction process and auction site FAQs.

After the Auction - For Non-Winning Bidders

If you were not the winning bidder of an auction, you have the option to leave your deposited funds in your online auction account to use for other auctions. You may also request a full or partial refund of your deposit. Learn how to request a refund of unused monies.

After the Auction - For Successful Bidders

• Payment of Balance - Successful bidders of an auction will receive an email from the auction site confirming their winning bid, the balance due, payment deadlines, and instructions. Learn what forms of payment are accepted and how to pay final balance for your purchase.
• Certificate of Sale - After receiving your full payment, the Clerk and Comptroller will issue a Certificate of Sale, stating for the court record the results of the auction, and record the same in the Sarasota County Official Records. This document does not indicate ownership of the property.
• Objections to Sale - Up to 10 days after the auction, an objection may be filed in the case. If an objection is filed, the Clerk and Comptroller cannot issue a Certificate of Title, showing official change to property ownership, without direction from the court.
• Certificate of Title - If no objections are filed, on the 11th day of the sale, the Clerk and Comptroller will:
  • Issue a Certificate of Title, indicating the change in property ownership;
  • Record the Certificate of Title in the Sarasota County Official Records;
  • Notify the Property Appraiser of the change in ownership;
  • Mail the new owner a certified copy of the Certificate of Title, and mail a plain copy to all the parties on the case. Additional copies can be obtained by searching Sarasota County Official Records by the new owner's name, or by contacting the Clerk and Comptroller's Public Access department.

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