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Updated about 5 years ago on . Most recent reply

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Konrad R.
  • Orlando, FL
5
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What do you guys about paying after the foreclosure?

Konrad R.
  • Orlando, FL
Posted

In one county I want to bid in, it says a 5 percent deposit is due after bidding and the full amount is due later that day. Do you guys just have a certified check ready for 5 percent of your maximum bid? I'm assuming they wouldn't have an issue with you paying more than 5 percent. Then you would leave to get the rest of the funds and come back.

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Chad U.
  • Investor
  • Boca Raton, FL
1,128
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Chad U.
  • Investor
  • Boca Raton, FL
Replied
Originally posted by @Konrad R.:

In one county I want to bid in, it says a 5 percent deposit is due after bidding and the full amount is due later that day. Do you guys just have a certified check ready for 5 percent of your maximum bid? I'm assuming they wouldn't have an issue with you paying more than 5 percent. Then you would leave to get the rest of the funds and come back.

 Everything is online, including depositing 5% of the required funds before the auction.  If you don't have the funds in there, you cannot bid.  You can also pay the entire purchase and costs via the county treasurer depository account.  

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