Online foreclosure auctions faster, riskier

From The Real Deal

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Like its neighbors, Broward County, Fla., is starting an electronic auction system that some real estate brokers say will speed up the process but poses risks for buyers.

"It’s like eBay!" one workshop attendee said in the fully packed foreclosure auction room at Broward County Courthouse Thursday.

The woman was one of nearly 50 attendees at a workshop run by the Broward County Clerk of the Courts to explain the process to potential bidders in the county’s new online foreclosure auction system, to replace the live one March 30.