Home sold at foreclosure auction for less than Final Judgement
Hi BiggerPockets Community!
I'm a veteran who recently graduated college and in the market for my first home. I'm currently researching and exploring all avenues.
I was looking at past foreclosure auctions in Florida and found that some homes sold for less than the final judgement amount to 3rd party bidders. I was under the impression that the Final Judgement amount would be the starting bid because it ensures all the debt associated with the property title is paid off.
Is this not the case? If not, what determines the starting bid? And, what happens with the remaining debt listed in the Final Judgement?
Thank you for your help!
Tony