Foreclosure Auction FAQs

Anyone can bid on real property at a foreclosure auction.

The online auction site provides access to the auction calendar, property information, the court's final judgment, and the Property Appraiser's assessment. Auctions can be canceled or postponed, so always check the calendar for status updates.

Important! You are responsible for researching all real properties scheduled for auction before engaging in the bidding process.

To participate in a foreclosure auction, follow these steps:

Step 1: Register for an online auction account at RealForeclosure-Sarasota website.

Step 2: Participate in Online Training to learn how to use the platform and engage in the bidding process.

As a bidder, you are responsible for conducting thorough due diligence research and fully understanding the process, time frames, limitations, and risks involved in purchasing real property at auction. If you are unsure how to proceed, please seek legal advice.

• Designate the name in which you would like to take ownership of the real property (Title, Deeding). If you have questions on how to deed the property, consult an attorney.
• Ensure sufficient funds are deposited in their online auction account prior to the start of the sale. Details about deposit amounts are explained on RealForeclosure. Do not wait until the morning of a sale to deposit funds. The Clerk and Comptroller's Office cannot guarantee your deposit will be processed the morning of a sale.

No, you do not need to be online during the exact time of the auction; the online auction system provides a proxy bidding service. Learn how the proxy bid service works.

If you are not the winning bidder of an auction, you have the option to leave your deposited funds in your online auction account to use for other auctions. You may also request a full or partial refund of your deposit. Learn how to request a refund of unused monies.

If you are the winning bidder your deposit will be applied to the total cost of your purchase. You will be required to pay the balance on your winning bid. The fastest way to pay your balance after winning an auction is to initiate a wire transfer through your bank. Your payment appears in the online auction system within the hour.

Purchase of real property at a foreclosure sale requires payment with guaranteed funds, which is explained on the RealForeclosure-Sarasota website.

• Payment of Balance - Winning bidders will receive an email from the auction site confirming their winning bid, the balance due, payment deadlines, and instructions. Learn what forms of payment are accepted and how to pay the final balance for your purchase.
• Certificate of Sale - After receiving your full payment, the Clerk and Comptroller will issue a Certificate of Sale, stating for the court record the results of the auction, and record the same in the Sarasota County Official Records. This document does not indicate ownership of the property.
• Objections to Sale - Up to 10 days after the auction, an objection may be filed in the case. If an objection is filed, the Clerk and Comptroller cannot issue a Certificate of Title, showing official change to real property ownership, without direction from the court.
• Certificate of Title - If no objections are filed, on the 11th day of the sale, the Clerk and Comptroller will:
  • Issue a Certificate of Title, indicating the change in property ownership;
  • Record the Certificate of Title in the Sarasota County Official Records;
  • Notify the Property Appraiser of the change in ownership;
  • Mail the new owner a certified copy of the Certificate of Title, and mail a plain copy to all the parties on the case. Additional copies can be obtained by searching Sarasota County Official Records by the new owner's name, or by contacting the Clerk and Comptroller's Public Access department.

Winning bidders who do not pay their balance by the deadline forfeit their deposit. Please review the information at RealForeclosure.