Industry NewsNews Brief

Online foreclosure auctions faster, riskier

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Editor's note: This article is reposted with permission by The Real Deal. Click here to view the original article. By ALEXANDER BRITELL 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. At yesterday's workshop, the clerk's office showed potential buyers how to make live bids and proxy bids, which allow people to make offers in advance. The new Web site,, is hosted by, which also provides the software and cust...