Melbourne Area Blog

Foreclosures in Brevard County

On Tuesday I attended a forum on foreclosures in the county. Scott Ellis, County Clerk of Brevard County had some interesting insights. There are many buyer's looking at foreclosed properties. It is imperative that you do your homework when bidding on foreclosed properties at auction on the court house steps. These properties are sold "as is, where is". Prior to the auction you can not view the property or have it inspected. Generally there is a representative of the banks there with a list of the homes and and a price that the banks are willing to take for each property. Most of the homes are retained by the lender.

If you are going to bid on a home, do your homework. Just searching the public records may not be enough to protect yourself. Order a Title Search from a Title Company. This will give you the most current information you need.

Judge David Dugan, administrative Judge for the 18th Judicial Circuit also attended. He discussed a new effort designed to force a meeting between owners and lenders.

Since February, Brevard courts require a mediation session in all contested foreclosures involving owner-occupied homes. A representative of the lender must attend one mediation session with the owner of the property before the court will issue a final judgement. Although the lenders don't have to reach a settle or give up any of their rights under the law, this a way for owners to have a meaningful dialogue with the lender.