Southwest Florida Title Insurance & Real Estate Blog -

My good friend and knowledgeable attorney, Mr. Perkins, continued to answer the question about…

This is the 9th step in our series: β€œ12 Things You Should Know to Survive a Short Sale.”

…the process by which the lender could enforce the deficiency judgment after a short sale.

  1. If you own real property in Florida (other than your homestead) the lender can record the judgment in the County where you own the property. This will give the lender a lien on that property. Then, the lender can ask the Court for a Writ of Execution so that the Sheriff may levy the property. The Sheriff will then record a constructive levy in the public records. The constructive levy puts the world on notice that the Sheriff has taken constructive possession of the property. The Sheriff then advertises an auction and sells the property to the highest bidder. The money received from the auction is credited against the judgment amount.
  2. If you own personal property in Florida (other than exempt items) the lender can obtain a lien on those items by filing for a judgment lien certificate. Then, the lender can obtain a Writ of Execution from the Court and have the Sheriff levy and auction those items. Household items are generally exempt, but if you own more than one car, or have a motorcycle in addition to a family car, the lender may be able to levy on that second car or motorcycle. Generally, lenders look for big ticket items like cars, planes, boats, etc.
  3. If you have a bank account, the lender can seek a Writ of Garnishment from the Court. The lender will then serve the Writ on your banking institution in order to freeze your account. If you want to keep your money, you will have to go to Court and prove that you qualify for an exemption.
  4. If you have assets located in a state other than Florida, the lender may domesticate the Florida Judgment in the other state, and then proceed to enforce the judgment according to the laws of the other state.

Four methods can feel like an eternity of explanation.

Save yourself time when attempting to figure out judgment collection.

See how Winged Foot Title made this process for a client incredibly efficient:

This is an FDIC short sale approval letter, as receiver for Riverside Bank, closed 03/5/2010. The short sale approval came within approximately 64 days from the date of short sale package submission. The original loan amount was for 274k and lender accepted 60k with a commission of 6% to real estate agents.

12 Things You Should Know to Survive a Short Sale” is a FREE eBook that is available for immediate download at

If you have any real estate or short sales questions – please don’t hesitate to contact us, or call us at (239) 985-4142. We service all of Southwest Florida including: Fort Myers Estero, Bonita Springs, Naples, Cape Coral, Pine Island, Punta Gorda, and Port Charlotte.

– Chris

1 Response

  1. Chin Donaghue Says:

    This was precisely the guidance I am looking for. Astounding blog. Exceptionally inspirational! The posts are so helpful and detailed. The links you feature are also extremely helpful too. Cheers πŸ™‚

    Posted on January 11th, 2012 at 11:42 am

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NOT LEGAL ADVICE: This information is not to be construed as legal advice. Legal advice must be tailored to the specific circumstances of each case. Every effort has been made to assure that this information is up-to-date as of the date of publication. It is not intended to be a full and exhaustive explanation of the law in any area. This information is not intended as legal advice and may not be used as legal advice. It should not be used to replace the advice of your own legal counsel.

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