The Real Deal Miami

Online auctions for Miami condos

December 01, 2009 11:37AM

Miami-Dade next week will become the latest Florida county to begin online auctions of foreclosed condominiums. As of Dec. 7, it will be the 12th and largest county to set up such a system to clear out a backlog that’s become too much for officials and staff to handle in person. About 7,000 properties in the county fall into foreclosure each month. Lloyd McClendon, CEO of RealAuction.com, which runs these county auctions across the state, claimed about 11,000 bidders were registered for Florida. One even registered from New Zealand. [NYT]