Redemption and Deficiency Judgments in Florida
Whether you can buy back your home after a foreclosure sale in Florida, and whether the lender can sue for what's still owed.
Short answer: There is no right of redemption after the sale. The right to redeem ends when the clerk files the certificate of sale (or at a later time if the judgment says so); the statute says that "otherwise, there is no right of redemption." Fla. Stat. § 45.0315
| Redemption after the sale | There is no right of redemption after the sale. The right to redeem ends when the clerk files the certificate of sale (or at a later time if the judgment says so); the statute says that "otherwise, there is no right of redemption." Source: Fla. Stat. § 45.0315 |
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| Deficiency judgments | Possible, at the court's discretion. For owner-occupied residential property, the deficiency cannot exceed the difference between the judgment amount (or, for a short sale, the outstanding debt) and the property's fair market value on the date of sale; a homestead-exempt property is presumed owner-occupied. The lender may also sue separately at common law unless the foreclosure court already granted or denied a deficiency. For 1- to 4-family residential property, a separate action to collect a deficiency must be brought within 1 year, starting the day after the clerk issues the certificate of sale or the lender accepts a deed in lieu of foreclosure. |
More Florida foreclosure & homeowner law
- How Foreclosure Works in Florida
- HOA Liens and Foreclosure in Florida
- Getting Your Home Back After a Tax Sale in Florida
- All Florida foreclosure & homeowner law rules
FAQ
Is there a right of redemption after foreclosure in Florida?
There is no right of redemption after the sale. The right to redeem ends when the clerk files the certificate of sale (or at a later time if the judgment says so); the statute says that "otherwise, there is no right of redemption."
Can the lender come after you for the rest of the loan after foreclosure in Florida?
Possible, at the court's discretion. For owner-occupied residential property, the deficiency cannot exceed the difference between the judgment amount (or, for a short sale, the outstanding debt) and the property's fair market value on the date of sale; a homestead-exempt property is presumed owner-occupied. The lender may also sue separately at common law unless the foreclosure court already granted or denied a deficiency. For 1- to 4-family residential property, a separate action to collect a deficiency must be brought within 1 year, starting the day after the clerk issues the certificate of sale or the lender accepts a deed in lieu of foreclosure.
General legal information, not legal advice. Laws change and local rules can differ; check the linked official source or talk to a lawyer about your situation.