Sell a House With Bad Credit in Pompano Beach, FL

Nobody pulls a seller's credit in a Florida real estate closing. The title company pulls the title. That distinction is the whole point of this page, because owners in Pompano Beach with damaged credit tend to assume it will complicate selling the way it complicates everything else: the car loan, the apartment application, the refinance that was declined. It does not. What bad credit usually brings with it is a set of related problems that can reach the house: a mortgage that is behind, a judgment from a credit card lawsuit recorded in the Broward County official records, an association balance in Palm Aire, a tax certificate sold by June 1. Those appear in a title search. The score itself never does.

Pompano Beach Cash Buyers buys houses from owners in every credit situation, as-is, for cash, with a written offer within 24 hours of the visit and a closing on the date you choose. This page explains what a cash sale looks at and what it ignores, which debts actually attach to a Pompano Beach house and which Florida's homestead law keeps off it, and what selling before a foreclosure judgment can honestly do for the credit you are trying to rebuild.

We look at the house: its condition, its block in Pompano Beach, what it would bring repaired, and what it costs to get there. The title company looks at the public records at the Governmental Center in Fort Lauderdale: who owns the parcel, what mortgages and liens are recorded, whether the taxes are current, whether a city code case has been recorded.

Nobody asks for your credit report, your income or your bank statements. The offer is written against the property, and we fund the purchase ourselves, so there is no lender on either side of the table to care about a score. A sale to us runs the same for a seller with perfect credit and a seller fresh out of collections.

Some of the debts that lowered your score may also have become liens. A creditor that sued and won can record a certified judgment, which attaches to real property you own in Broward County. Unpaid association assessments become a claim of lien. Unpaid property taxes become a certificate. All of these appear in the title search and are paid, negotiated or released at closing from the purchase price.

One rule works in your favor. Florida's homestead protection generally prevents a judgment for an ordinary unsecured debt, a credit card, a medical bill, from attaching to your primary residence. Many of the judgments on a damaged credit report therefore do not have to be paid from the sale of your homestead. The title company confirms homestead status and tells you what must be paid before you sign.

If the mortgage is behind, the most damaging entry possible is still ahead of you: a foreclosure judgment and sale in the Broward County circuit court, which stays on a credit report for years. Credit benefits of selling exist only if closing happens before that judgment is entered. A sale before judgment pays the loan in full, and the loan is reported as paid; the late payments already reported remain. A judgment already entered is not erased by a later sale.

The lender must file suit and win a judgment, and under Fla. Stat. 45.0315 you may pay the lender and keep the equity until the later of the clerk filing the certificate of sale or a deadline set in the judgment. Nobody, including us, can promise what your score will do afterward.

Owners with damaged credit sometimes hope to refinance into a lower payment or to rent the house out and move. A refinance requires a lender, and a lender checks credit, so that door is usually closed. Renting out a Pompano Beach house means becoming a landlord: Florida's landlord-tenant statute governs the deposit, the notices and the eviction process, and a 1974-era roof still has to be insured at Citizens' $2,916 average premium.

All of that without the reserves a credit problem implies are gone. Selling for cash is the path that does not depend on anyone approving your finances, which is why it tends to be the one that actually closes.

Tell us the address and what is going on, including any lawsuits, liens or collection letters you know about. We see the house within a day or two, deliver a written offer within 24 hours of the visit, and open title the day you accept. The title company's search tells us which debts attach to the property and which do not, and you see that list before closing.

The house sells as-is, so the repairs deferred while money was tight are priced into the offer rather than demanded of you. We pay the customary closing costs, and there is no commission. Your net is the price minus any mortgage payoff minus the liens that must be paid, wired at closing.

A common worry is that with bad credit you cannot rent or buy the next home. Landlords in Pompano Beach, Deerfield Beach and Coconut Creek do check credit, but an applicant with cash proceeds in the bank, a mortgage reported as paid and no foreclosure on the record is a different applicant from one in the middle of a default.

Sellers in this position often use part of the proceeds for a larger deposit or several months of rent paid in advance, which is the argument a landlord can hear. The point of selling on your own timeline is to arrive at the next step with money and a clean ending to this chapter, rather than a judgment and an auction on broward.realforeclose.com behind you.

We buy houses in Pompano Beach for any reason, any condition, or any challenge

Every link below is a page written for that situation in Pompano Beach and Broward County.