TALLAHASSEE, FL -- Florida's Duval and Manatee Counties Will Host the Nation's First Online Foreclosure Auctions Run by RealAuction.com On September 2nd, Florida's Duval and Manatee counties will host the nation's first in a series of planned online auctions of foreclosed properties, the onset of an expected national trend in foreclosure dealings. Historically, foreclosure auctions took place on the steps of county courts; but a recent bill, driven by Akerman Senterfitt's Policy Practice Group, establishes new procedures facilitating online foreclosure auctions.
The escalating housing crisis has led to a surge in foreclosures that have ultimately pushed the old-fashioned method to its breaking point. The amount of paperwork and time involved in these foreclosure transactions has heightened inefficiency among county clerks, with little help in sight. In May 2008 alone, Florida saw 37,264 foreclosures -- the second highest number in the country.
Akerman's Policy Practice has facilitated the passing of innovative new legislation affecting the current housing crisis, allowing county clerks to conduct online auctions for foreclosed properties and tax deeds. On June 17th, Governor Charlie Crist signed HB 773, making Florida the first state in the country to drastically change its foreclosure auction law. The bill allows county clerks to conduct online auctions for foreclosed properties and tax deeds.
"This bill will benefit every party involved in foreclosure auctions," said Allan Katz, Chair of Akerman's Policy Practice Group. "The bill reduces the amount of time and paperwork involved for clerks; increases competition in bidding which leads to higher sale prices for the banks; and reduces the number of vacant properties that drag on home values in the county."
Members of Akerman's Policy Practice Group, led by Brady Benford, Larry Williams and Donovan Brown, worked to pass HB 773 through the Florida Legislature on behalf of their client www.RealAuction.com, the company that will run the online auctions in Duval and Manatee counties.
"If we tried this three years ago the bill would have gone nowhere," noted Katz. "The credit crunch and housing crisis that led to the massive increase in foreclosures made it apparent that a change was necessary."
Florida is not the only state under siege by an influx of foreclosed properties. California had 250,000 foreclosure filings in 2007 -- up 51 percent from 2006 -- with numbers continuing to climb in 2008. Michigan and Nevada have also witnessed exceptionally high numbers of foreclosed properties; numbers that are forcing states to reexamine what is often extremely outdated law concerning foreclosure auctions.
Akerman's bi-partisan Policy team includes current and former U.S. and Florida lawmakers, a former Florida Public Service Commission Chair, a former Florida Public Counsel, and former judges, who handle diverse matters including: licensing and permitting, bid protests, administrative rate cases, appellate action, and legislative and regulatory consultation. Clients include both individuals and Fortune 500 companies in a wide range of industries including banking, pharmaceuticals, education, gaming, and public utilities. The group also provides counsel to governmental entities, defending municipalities and municipal employees in civil rights, allegations of misconduct, wrongful arrest cases and employment issues.
About Akerman Senterfitt
Akerman is ranked among the top 100 law firms in the United States by The National Law Journal NLJ 250 (2007) in number of lawyers and is the largest firm in Florida. With more than 500 lawyers and governmental affairs professionals, the firm serves clients in major business centers throughout the United States, including Miami, New York, Washington D.C. and Los Angeles. For additional information, please visit the firm's Web site at www.akerman.com.
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Contact:
Dianne Weber
Akerman Senterfitt
(305) 982-5631
dianne.weber@akerman.com
Bradley Wray
RF|Binder Partners, Inc.
(212) 994-7592
bradley.wray@rfbinder.com
Pat Tucker
RF|Binder Partners, Inc.
(212) 994-7561
www.Patrick.Tucker@rfbinder.com
Source: Akerman Senterfitt
CONTACT: Dianne Weber of Akerman Senterfitt, +1-305-982-5631,
dianne.weber@akerman.com; or Bradley Wray, +1-212-994-7592,
bradley.wray@rfbinder.com, or Pat Tucker, +1-212-994-7561,
www.Patrick.Tucker@rfbinder.com, both of RF|Binder Partners, Inc., for Akerman
Senterfitt
Web site: http://www.akerman.com/
About This Release
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