|Published:||Apr 06, 2010 3:33 AM EDT|
|Updated:||Apr 06, 2010 3:33 AM EDT|
LEE COUNTY, Fla. - Lee County's Court Clerk's office is turning to the internet to try and clear the glut of foreclosure properties. For the first time Monday, it auctioned off 57 properties online, hoping to speed up the process and allow new owners to move in.
"You can [bid] from your home and it's a bit more comfortable,' said Linda Doggett of the clerk's office. "It opens it up to anybody in any state or country to bid on this property."
Previously, Lee County held foreclosure auctions in a small crowded room in the courthouse. Now, it can be done on LeeClerk.org.
Bidders must first register then log onto the website. Homes get sold within seconds. You can watch as a clock ticks down and buyers up their price. If the final bid is too low -- the bank automatically gets the property.
The buyers have to pay for the property in full by 4 pm the next day. If they don't, the homes go back on the auction block. The next virtual auction will take place Wednesday at 9 am.
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