Broward judge voids foreclosure auction

Miami /
Sep.September 03, 2014 01:30 PM

A Broward judge blocked the sale of a Cooper City home that yielded only $5,200 in an allegedly botched auction.

Stuart and Evelyn Finkelstein contested the sale, citing tactics used by their lender to discourage bidding and in turn win the 4,033-square-foot home at a minimum cost, the Daily Business Review reported. The Finkelsteins argued that the lender’s visible maximum bid of $550,000 chilled the competition and led to the small purchase price. Additionally,the Finkelsteins claim Evans rejected a substantial $400,000 offer for the home prior to the auction.

Judge Joel Lazarus vacated the sale and scheduled a new auction for later this month.

The Finkelstein and the lender, James D. Evans, have been fighting it out in court since 2012, when a foreclosure judgment was awarded to Evans. The lender bought out the Finkelsteins’ prior $333,000 mortgage and gave them a new one for $160,000. The foreclosure was upheld in 2013.

Evans is challenging the vacated sale. [Daily Business Review] Frank Maradiaga


Related Articles

arrow_forward_ios
Merit Hill Capital CEO Elizabeth Schlesinger and the self-storage facility at 5370 South University Drive in Davie (Merit Hill Capital, Google Maps)
Merit Hill Capital pays $18M for Davie self-storage facility
Merit Hill Capital pays $18M for Davie self-storage facility
2855 West Commercial Boulevard
Cedar Health scoops up Fort Lauderdale assisted living facility for $39M
Cedar Health scoops up Fort Lauderdale assisted living facility for $39M
(Illustration by The Real Deal; Getty)
Residential sales fall 30% across South Florida
Residential sales fall 30% across South Florida
From left: Zom Living’s Greg West and Related Companies' Stephen Ross with 2601 Solano Avenue
Steve Ross’ Related adds Broward affordable rentals to portfolio
Steve Ross’ Related adds Broward affordable rentals to portfolio
Prime Group Holdings’ Robert Moser and the self-storage site at 2401 West Broward Boulevard in Fort Lauderdale
Prime buys Fort Lauderdale self-storage facility for $35M
Prime buys Fort Lauderdale self-storage facility for $35M
Rendering of Gateway Luxury Apartments (Burgos Lanza, Getty)
Pompano Beach advances 128-unit mixed-income rental project
Pompano Beach advances 128-unit mixed-income rental project
(Photo Illustration for The Real Deal with Getty)
New Urban Communities plans houses in Sunrise for middle-income buyers
New Urban Communities plans houses in Sunrise for middle-income buyers
From left: Mary Brickell Village in Brickell (left), Palms Plaza in Boca Raton (top), and The Shoppes at Pembroke Gardens in Pembroke Pines (right) (Getty, Mary Brickell Village, Google Maps)
South Florida retail rents climb
South Florida retail rents climb
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...