In a landmark move, Jim Fuller, Duval County Clerk of the Courts has selected Realauction to hold the country’s first online foreclosure sales. Duval will pioneer the effort in Florida, implementing RealForeclose to manage foreclosure sales efficiently and cost-effectively.

Foreclosures have increased dramatically in the past months, and are forecast to remain at all-time record numbers. The volume of foreclosure sales held by Clerks of Courts strains the administrative process, and costs taxpayers significantly more than the sales fees charged. The online auction format reduces the Clerk’s workload, frees up staff time, and provides cost savings to the tax payers.

The benefits of RealForeclose were made possible due to recent changes to Florida Statutes allowing Clerks of Courts to hold foreclosure sales online.

“We believe it is critical to conduct efficient foreclosure sales using the latest technology, and we are prepared to lead the way with online property sales,” said Jim Fuller, Duval County Clerk of the Courts. “We look forward to increasing the number of bidders, providing a fair process for all and saving taxpayers money.”

“Jim Fuller’s decision puts Duval County on the cutting edge of public service, and will yield savings never before possible,” said Lloyd McClendon, Realauction CEO. “The Duval Clerk of the Courts office will see dramatic reductions in staff time for data entry as well as paper generation.”

With documentation, history and property details available on a dedicated web site, bidders can conduct due diligence online. Property information and history are updated as they are available, and distributed to all bidders simultaneously, simplifying the process for the Clerk’s staff.

No longer will Duval be limited to just those bidders who can physically make it to the sale. The increase in bidders also means an increase in the number of properties sold.

Realauction conducts training and orientation sessions for bidders prior to the sale, with complete instruction on participation in the online sale. Realauction also provides a toll free number to their customer service team to answer questions during the sale.

Duval’s online foreclosure sales are set to begin September 1, with training for bidders scheduled throughout August.

Demonstrations of RealForeclose are available by contacting Craig McIntyre, Vice President Business Development, at 954-734-7400 or cmcintyre@realauction.com.

Posted: 07|30|08 at 8:54 am. Filed under: US Property.