The Real Deal Miami

Palm Beach auctions go fully online

January 19, 2010 02:50PM

The Palm Beach County Courthouse will no longer host live auctions of foreclosed properties after this week, as the new online venue supplants the in-person bidding process. Palm Beach County saw more than 27,650 foreclosures last year, and the backlog of court cases created a pile of cases so large that the process slowed to a crawl at times. In person, about 150 properties were sold each week and the county hopes its online shift will rapidly increase that number. The auction regulars will be sad to see the twice-weekly gatherings supplanted by the eBay-style process run by Pittsburgh-based Grant Street Group. Don Cameron, who owns Hi-Land Properties, a real estate investment business with offices in West Palm Beach and the Treasure Coast, said the live auctions gave him a better sense of how his competitors bid for properties. [Palm Beach Post]