Forclosures can offer a huge savings to homebuyers. Save time by checking our list of all the foreclosures listed in the Multiple Listing Service (MLS) – the database used by Realtors. The foreclosures listed are updated in real-time, so you always have access to the latest information.
To view foreclosures in Greater Fort Lauderdale / Broward County, select an option from the list in the table below. You can also search for foreclosures by using our Interactive Map or Detailed Property Search.
|Single-Family Home Foreclosures||Condo & Townhome Foreclosures|
|View All||View All|
|$200,000 – $500,000||$200,000 – $500,000|
|$500,000 – $1M||$500,000 – $1M|
|$1M – $2M||$1M – $2M|
|$2M – $5M||$2M – $5M|
|$5M +||$5M +|
Foreclosures are properties in which homeowners have forfeited their rights due to failure to pay the mortgages. If the homeowner is unable to pay off the outstanding debt or sell the property via a short sale, the property is attempted to be sold at a foreclosure auction. If a buyer is not found at auction, the lending institution takes possession of the property.
Phases of Foreclosures
Phase 1: Missed Payments Foreclosures can be a lengthy process from start to finish. The process generally starts when a homeowner fails to make timely mortgage payments, thus failing to meet the terms of their loan.
Phase 2: Public Notice When a homeowner has missed three to six months of mortgage payments, the lending institution records a public notice with the County Recorder’s Office. The notice indicates the borrower has defaulted on his or her mortgage.
Phase 3: Pre-foreclosures The homeowner enters a grace period referred to as “pre-foreclosure” once he or she has received a Notice of Default from their lending institution. During this time – anywhere from 30-180 days – the homeowner can try to work out an arrangement with the lending institution via a short sale or pay the outstanding amount owed. If the homeowner pays off the default during this phase, foreclosure ends and the homeowner avoids home eviction and sale. If the default is not paid off, foreclosure continues.
Phase 4: Auction If the default amount is not paid during the pre-foreclosure, the lending institution arranges for the property to be sold at a foreclosure auction. At the auction, the property is generally sold to the highest bidder for cash.
Phase 5: Post-Foreclosures If the property does not sell at auction, the lending institution takes ownership. At this time the property is considered a bank-owned property or real estate owned (REO).
If you have questions about foreclosures, contact us.