I'm renting an apartment and the apartment goes on for sale on the 28th of March. because of forclosure. Can?

Asked by Luis Hernandez, South Miami, FL Tue Mar 4, 2008

If I purchase the apartment and if so, how much time do I have if I don't win the auction. I live in Miami Dade County.

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Bob Galivan, Agent, South Miami, FL
Thu Mar 6, 2008
Luis:
I suspect you might be out of luck. The auction price of the home is most likely going to be the judgement for the mortgage value plus costs of the home. In Miami, most foreclosures are being sold back to the lender at auction, then being listed for re-sale some months later through a local Realtor. You should be able to find out the mortgage value in public records. If you do not win the auction, Florida law gives you 14 days to move out after notification from the lender. Most of the time, this does not happen right away, so you may have more time than that, but I would start looking for an alternate place to live now.
Web Reference:  http://www.MyriamsHomes.com
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Brad Gertz, , 33477
Wed Mar 5, 2008
I would see if you could possibly purchase it as a short sale prior to the auction.
0 votes
RN, , Miami, FL
Tue Mar 4, 2008
If the apartment is being sold at an auction, you need to consult the auctioneers rules and timelines. I can assist you with attending the auction and brief you on what you need to do, if you like. Feel free to call me at 786-205-1133.
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