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Answered
Plaintiff Final Judgement more than the Plaintiff Max Bid

When a Plaintiff has a Final Judgement for more than the Plaintiff Max Bid will the difference be wiped out or will I be responsible for the difference Final Judgement amount and the winning bid if the winning bid is lower? This is for an HOA Foreclosure.

  
  
Posted 2 months ago
Edited 2 months ago
Votes Newest

Answers 2


Hi David, if you win a property at a COA
or HOA auction whatever the amount that you paid at auction wipes the lien that led to the foreclosure. However, if there are any other HOA or COA dues outstanding aside from what forced the association to foreclose then these remain, and have to be paid by the new owner. Please remember that we are only talking about a HOA or COA foreclosure and unless you're very lucky there will no doubt still be encumbrances in the form of mortgages still owed to the lender so you have not bought the property free and clear.

  
  
Posted one month ago

When a property is sold at a foreclosure auction, the winning bid satisfies the lien that led to the foreclosure, regardless of whether it covers the full amount of the final judgment.

-1
-1
Posted 2 months ago
  
  

Thank you Tony. Is that true even for COA/HOA Foreclosures? I though they could always come after the new owner for any unpaid dues?

David Mattson   one month ago Report
481 Views
2 Answers
2 months ago
one month ago

Miami Dade County Foreclosure Schedule

Miami Dade County Foreclosure Auctions: