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Florida Foreclosure Auctions and Surplus Funds

You may be reading this because your Florida property was recently sold at foreclosure auction and want to know the next steps. First and foremost, you will want to begin gathering your belongings to move out of the subject property. According to Florida Statutes, a former Homeowner has until the new homeowner obtains a Writ of Possession from the Court to move out. An issuance of a Writ of Possession can take about thirty (30) days but is largely dependent on the Court and the Judge. Former homeowners are usually advised to move out the subject property earlier than the Writ of Possession is issued to avoid having an eviction placed on their credit report as this can affect where they choose to live next.

Moreover, some former homeowners are fortunate to have what are known as surplus funds available for them to claim after the recent Florida foreclosure sale of their Florida property. According to Florida Statute 45.032(2), “there is established a rebuttable legal presumption that the owner of record on the date of the filing of a lis pendens is the person entitled to surplus funds…” An “Owner of Record” is defined by this same statute as “the person or persons who appear to be owners of the property that is the subject of the foreclosure proceeding on the date of the filing of the lis pendens.”

For example: If a Final Judgment is entered in a Florida foreclosure action in the amount of $30,000 and the property sells at a foreclosure auction for $150,000, then there will be a surplus of funds in the amount of $120,000 retained by the Clerk of Court! As previously mentioned above, the former Homeowner is entitled to a portion or even the entirety of the surplus funds that are available. I say a portion or the entirety of the surplus funds because there may be Subordinate Lienholders who may also be entitled to a portion of the funds should they file a timely claim.

Therefore, if you are reading this as a former Florida Homeowner whose home has recently been sold at a Florida foreclosure auction and would like to know whether there are surplus funds available for you to recover; then please give me a call and I will personally give you a free consultation. During our consultation, I will confirm whether there are surplus funds available to be recovered as well as answer any questions that you may have. If there are surplus funds to be recovered, then I will also provide you with a personalized strategy as to how we can assist you with the recovery of YOUR Florida foreclosure surplus funds.

At Haynes Law Group, P.A., we have experienced Attorneys who are well-versed in the Florida statutes governing Florida homeowners’ claims to Florida foreclosure surplus funds and have helped to recover millions of dollars for former Florida homeowners. We represent former homeowners all over the state of Florida no matter which county they are in and will work tirelessly to ensure that you receive the Gold Standard of Legal Service.

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