Miami Home Foreclosures

Miami - Dade County Foreclosure Listings

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Alpharetta -  6 bedrooms, 5 baths Keeping Room Finished Basement Extra large bonus room upstairs Level Backyard, Premium lot Brick front, HardiplankMore Info -->

Dade and Broward County Foreclosed Homes

During the past five years, the South Florida real estate market has been a hotspot of activity, growth, and investment. With all the excitement, action, and fantastic weather, it’s no wonder people from all over the world look to South Florida real estate for primary and secondary residences, vacation homes, investment properties, and so much more. Within the South Florida real estate market, cities and neighborhoods from Miami to Palm Beach have been improving, growing, and evolving to become some of the best real estate in the country, with top lines of amenities, a wide range of architectural styles, and unparalleled levels of community integration and planning.

At the beginning of 2006, however, the national real estate market began to turn due to rising interest rates and a drastic slowdown in home value appreciation. Former hot market areas like Miami and Ft. Lauderdale were especially hard hit by this turn, and as a result the South Florida real estate market is in a heavy period of transition. Overdevelopment and an influx of too many quick-flip real estate investors have left the major markets of South Florida with too much inventory, and South Florida real estate sellers now have to compete to find buyers in a way that most have never seen before in this area.  Browse this site to find free Miami area foreclosure listings.

Despite some doom and gloom reports, however, there is still a real estate market in South Florida that’s worth getting into! While sellers may be having problems finding buyers as quickly as they have in the past, resale properties are still selling at appreciated prices depending upon how long ago you purchased and the particular neighborhood you call home will determine the amount of a return you will still receive. All it takes is a little patience on your part and a bit of creativity from your Realtor®, and you’ll still be able to sell your property efficiently and successfully, even in this unsteady market!

On the flipside, South Florida real estate buyers are having the best time they’ve had in years especially those who are purchasing primary residences and even some vacation home buyers. Interest rates are good, the selection is phenomenal, and all that property inventory means sellers are now competing for you to be their buyer instead of the other way around. With so many options, you’re bound to find the perfect dream home in some of the best areas of Miami, Ft. Lauderdale, and Palm Beach. If you’re a buyer who’s looking to call South Florida home, then the time is right to buy on primary residences and any vacation investment properties!

Now, we’d like to invite you to use this website as a tool to navigate the various areas and enclaves located in South Florida. We’ve broken Miami real estate down by both physical areas, such as Aventura, Brickell and Miami Beach, as well as by common interests such as high-luxury, boating, fashion, and family. We hope this site will serve to make your investigation of the Miami real estate market both fast and easy. We also invite you to contact us, should you have any further questions regarding the Miami real estate market or any specific properties you’re interested in pursuing.

Miami Home Foreclosure

Foreclosure is the legal proceeding in which a bank or other secured creditor sells or repossesses a parcel of real property (immovable property) due to the owner's failure to comply with an agreement between the lender and borrower called a "mortgage" or "deed of trust". Commonly, the violation of the mortgage is a default in payment of a promissory note, secured by a lien on the property. When the process is complete, it is typically said that "the lender has foreclosed its mortgage or lien."uot;

In the United States, there are two sorts of foreclosure in most common law states. Using a "deed in lieu of foreclosure," the bank claims the title and possession of the property back in full satisfaction of a debt, usually on contract. In the proceeding simply known as foreclosure (or, perhaps, distinguished as "judicial foreclosure"), the property is exposed to auction by the county sheriff or some other officer of the court. Many states require this latter sort of proceeding in some or all cases of foreclosure, in order to protect any equity the debtor may have in the property, in case the value of the debt being foreclosed on is substantially less than the market value of the immovable property (this also discourages strategic foreclosure). In this foreclosure, the sheriff then issues a deed to the winning bidder at auction. Banks and other institutional lenders typically bid in the amount of the owed debt at the sale, and if no other buyers step forward the lender receives title to the immovable property in return.

Other states have adopted non-judicial foreclosure procedures, in which the mortgagee, or more commonly the mortgagee's attorney or designated agent, gives the debtor a notice of default and the mortgagee's intent to sell the immovable property in a form prescribed by state statute. This type of foreclosure is commonly referred to as "statutory" or "non-judicial" foreclosure, as opposed to "judicial". With this "power-of-sale" type of foreclosure, if the debtor fails to cure the default, or use other lawful means (such as filing for bankruptcy which provides a temporary automatic stay to the foreclosure proceeding) to stop the sale, the mortgagee or its representative will conduct a public auction in a similar manner as the sheriff's auction described above. The highest bidder at the auction becomes the owner of the immovable property free and clear of any interest of the former owner but the property may be encumbered by any liens superior to the mortgage being foreclosed (e.g. a senior mortgage, unpaid property taxes etc). Further legal action, such as an eviction may be necessary to obtain possession of the premises.


"Strict foreclosure" is an equitable right available in some states. The strict foreclosure period arises after the foreclosure sale has taken place and is available to the foreclosure sale purchaser. The foreclosure sale purchaser must petition a court for a decree that will cut off any junior lienholder's rights to redeem the senior debt. If the junior lienholder fails to do so within the judicially established time frame, his lien is cancelled and the purchaser's title is cleared. This effect is the same as the strict foreclosure that occurred at common law in England's courts of equity as a response to the development of the equity of redemption.

In most jurisdictions it is customary for the foreclosing lender to obtain a title search of the immovable property and to notify all other persons who may have liens on the property, whether by judgment, by contract, or by statute or other law, so that they may appear and assert their interest in the foreclosure litigation. In all US jurisdictions a lender who conducts a foreclosure sale of immovable property which is the subject of a federal tax lien must give 25 days' notice of the sale to the Internal Revenue Service: failure to give notice to the IRS will result in the lien remaining attached to the immovable property after the sale. Therefore, it is imperative that the lender obtain a search of the local Federal Tax Liens so that if the persons or companies involved in the forelcosure have a federal tax lien filed against them, the proper notice to the IRS will be given. A detailed explanation by the IRS of the Federal Tax Lien process can be found here.

Some individuals and companies are engaged in the business of purchasing properties at foreclosure sales. A number of companies promoting themselves on the internet and in other advertising media have sprung up touting the profits that can be made buying properties in foreclosure. Purchasing properties in foreclosure can be more risky than some companies imply.