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The info Mark provided is right on. Just wanted to throw in a tid bit about this to let you know that the banks are bidding against you and they wont be letting go easy. They would rather get them back than give them away for a "song". In addition, you have got to do your research about the property up on the auction block. With over 36,000 homes in the state of Florida with Chinese Drywall you could easily land one.
It makes great sense to have a buyer's agent to help you with previewing properties. I'm ready to help you shop the foreclosure market when you are ready. Up to date information on the homes available on the Florida Gulfcoast MLS can be found at http://www.swfloridahomebuyer.listingbook.com.
Sarah Garrett, Realtor
ALLIANCE REALTY GROUP
"Chosen Best in Client Satisfaction 2006-2009"
By Gulfshore Life Magazine