How can I bid on a foreclosure sale/property? Where are foreclosure sales held? How do I register to bid on a foreclosure?
Foreclosure sales are held online at www.okaloosa.realforeclose.com
To register as a bidder:
Go to www.okaloosaclerk.com to obtain a login and password. (Select the green box titled Foreclosure Sales under the Online Services section of our home page, then select Register)
Once this is established, you will deposit 5% of whatever your max bid amount will be. To deposit funds:
- Bring the certified funds to the Clerk of Court for deposit into your online foreclosure account
- Send a wire transfer to the Clerk of Court for deposit into your online foreclosure account (this requires some extra information – routing number)
- Real foreclose will guarantee funds availability if they are deposited 24 hours from the sale date
Once the funds are deposited and you are ready to bid, you will need to do research on the property for any liens on the property; as the clerk does not guarantee a clear title. This is a “buyer beware” situation due to the potential liens.
When you select the property/case you wish to bid on, it will be listed on the calendar on the real foreclosure website showing the date and time of the sale. All sales for Okaloosa county’s foreclosures begin at 11AM CST – bidding will be electronic. You, the bidder, will need to login prior to the sale time and the bid will remain open so long as there is active bidding. Once the final bid has been made, the sale will be closed and the bid winner will be provided with a calculation worksheet from the foreclosure website showing all amounts due. The winning bidder will have the 5% bid deposit deducted from their account automatically, the remaining 95% along with all registry and doc stamp fees will be due by 4PM that day to the Clerk of Court in person by certified funds or by wire transfer. If the winning bidder fails to pay the remaining 95% by 4PM, then the 5% will be forfeited and used for new sale fees and to re-publish the sale. The balance of the forfeited bid deposit will be paid to the Plaintiff towards the judgment amount. The Clerk will collect the bidders information either in person from the bidder or through the Real Auction registration and will prepare the “certificate of sale” (address, name successful bidder wishes the certificate of title to be issued and bid amount). For bidders paying by wire transfer, the Certificate of Sale will be issued the following day upon confirmation of receipt of payment from the bank.
After 10 days from the date of the sale (excluding weekends and/or holidays), and providing no objections or pending motions (appeals only if a Supersedeas bond is posted) are filed, the clerk will issue a certificate of title to the winning bidder and copies to all parties at the addresses provided.
Our real foreclose customer service can provide information and guidance at 1-877-361-7325