Sell a House in Foreclosure in Pompano Beach, FL

A Pompano Beach foreclosure is a lawsuit before it is anything else. Florida is a judicial foreclosure state, so the lender must file a complaint in the Broward County circuit court, serve you, and win a final judgment before the clerk can auction the house. The lender's attorney also records a lis pendens, a notice in the county's official records at the Governmental Center in Fort Lauderdale that the property is in litigation. From that filing until the clerk's online sale, the case moves on the court's calendar, and the owner keeps the right to pay the lender and keep or sell the house.

Pompano Beach Cash Buyers buys houses from owners at any stage before the redemption deadline, from the first breach letter to the days before a scheduled sale on broward.realforeclose.com, as long as there is time to get payoff figures, clear title and close. We pay the lender's full payoff at closing from the purchase price. Once the payoff is received, the lender's attorney files to cancel the sale and dismiss the case; confirm the cancellation yourself before the sale date, because signing a contract does not stop an auction. The equity above the payoff and any liens is wired to you. This page is for the owner of the home. It explains each stage of a Broward County foreclosure, the rights Florida law gives you, and how a cash sale is timed around the court.

After several missed payments the servicer sends a breach letter, usually with a date to cure. If the loan is not brought current, the lender's attorney files a complaint in the Seventeenth Judicial Circuit, the circuit court for Broward County, and records the lis pendens. Mortgage foreclosures are handled by the Clerk's Circuit Civil division at the Central Courthouse, 201 SE 6th Street in Fort Lauderdale. When you are served, read the summons for its response deadline and keep it: talking to a buyer does not extend it, and a Florida attorney or legal aid can help you answer. If the court rules for the lender, it enters a final judgment stating the amount owed and setting a sale date, normally 20 to 35 days out under Fla. Stat. 45.031, though the lender can consent to a later date and the court can move it. Before judgment, paying the case off in full means the accelerated balance, which is the whole loan plus the lender's reasonable costs and fees, not just the missed payments. Depending on your mortgage, reinstatement, a repayment plan or a loan modification may also be open to you; ask the servicer in writing.

Broward County foreclosure sales run online at broward.realforeclose.com, the clerk's official sale site, and third-party calendars list them at 10:00 AM. Bidders register ahead and post a 5% deposit of their expected high bid by 3:00 pm the business day before. The winner pays the balance and registry fees by noon the next business day. The clerk then files a certificate of sale. Objections to the sale must be filed within 10 days after that filing. If none is sustained, the clerk issues the certificate of title to the buyer. The lender usually bids up to its judgment amount, so the auction starts from the debt, not from what a Pompano Beach house is worth, and competitive bidding, not value, decides whether anything is left over for you.

Under Fla. Stat. 45.0315 you may redeem, meaning pay the amount in the judgment plus interest and costs, at any time until the later of two events: the clerk filing the certificate of sale, or a deadline the judgment itself sets. Before judgment, redeeming means paying the accelerated balance plus the lender's reasonable fees. After that later point Florida has no redemption period at all. A sale to a cash buyer is one way to make the payment. The title company requests the payoff from the lender's attorney, pays it from the purchase price at closing, and the attorney files to cancel the sale and dismiss the case; after a judgment, a satisfaction of judgment and a release of the mortgage are recorded as well. The case is not closed by the sale on its own; it is the lender's filing that closes it, so ask the title company to confirm the cancellation is on the docket.

If the auction bid does not cover the judgment, Florida allows the lender to seek a deficiency judgment for the shortfall. For a one-to-four unit residential property the claim must be brought within 1 year after the certificate of title is issued (Fla. Stat. 95.11(6)(g)). For an owner-occupied home the deficiency is capped at the judgment amount minus the property's fair market value on the sale date (Fla. Stat. 702.06). If the bid exceeds the judgment, the surplus is claimed through the clerk's Owner's Civil Claim for Mortgage Foreclosure Surplus form, after junior lienholders. A negotiated sale that pays the loan in full avoids the deficiency and puts the equity in your contract. On credit: the late payments are already reported, and nobody can promise a credit outcome. Paying the loan off before the foreclosure is completed means the servicer reports a paid loan rather than a completed foreclosure; a court judgment is a court record, not a credit-report entry, and a sale does not erase it from the docket.

Tell us whether you have been served, whether a judgment exists, and the sale date if one is set. We visit the house within a day or two and deliver a written offer within 24 hours of the visit. On acceptance the title company orders the payoff from the lender's attorney, which includes the judgment amount, interest, attorney fees and costs through closing, and searches the Broward County official records for other liens. Closing is set ahead of the sale date. Your estimated net is the price minus the payoff, any other liens and your share of the year's property taxes; we pay the customary closing costs and there is no commission. We buy as-is, so a 1970s Cresthaven house with an original roof or a Palm Aire condo carrying an assessment is priced once, in the offer, and we do not come back after a walk-through to lower it.

If you have a breach letter but no lawsuit, you have the most room, and a closing in about a week once title is clear is realistic. If you have been served, note the response deadline and the case number, and send us the address; we can contract while the case proceeds. If a judgment is entered and a sale is scheduled on broward.realforeclose.com, the payoff must be requested immediately, and the title company works backward from the sale date. If the certificate of sale is already filed and the judgment set no later date, the redemption right has ended; a Florida attorney should look quickly at any grounds to object to the sale and at your claim to any surplus. If the price plus anything you can bring to closing cannot cover the payoff, every lender that is short must agree in writing to accept less and release its lien, and you should ask whether the remaining balance is waived; we will tell you that is the situation at the offer stage.

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.