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The Real Deal Miami

Stern cases still going to auction

February 17, 2011 09:37AM

So far this month, 41 homes have been sold at auction to investors
because, in several cases, they were the only ones bidding. Many of
these are foreclosure cases previously handled by the Law Offices of
David J. Stern that are still going to auction without advertisement and
without bank representation. Buyers will likely not get the deals they
envisioned because there were no legally required advertisements about
the auction. The Palm Beach County Clerk of Court will not issue buyers a
certificate of sale without proof that there was a required
advertisement once a week for two weeks in a row. It is not enough,
however, to cancel a sale, according to an administrative order from May
2010. [Palm
Beach Post]