Can I sell if there is already a judgment?

Yes, until the auction is held. With a judgment the window is short; call us the same day.

Does the bank have to accept my sale?

If the offer covers the payoff, you do not need its permission; the notary pays it at closing. If it does not, you do need its written approval (short sale).

What happens to my credit?

A sale before the auction closes the debt as paid or, in a short sale, as settled by agreement. A foreclosure is recorded as such. An attorney or credit counselor explains the effect in your case.

Can I stay in the house after selling?

Sometimes a short occupancy period after closing can be agreed. Ask us; it depends on how much time there is.

What if I have two mortgages or a secured personal loan?

Payoff letters are requested from all of them. Everything is paid from the price at closing, in order of priority.

Is this legal advice?

No. It is general information. For your case, a foreclosure attorney or the legal aid office in your region.

Situations we buy in

Facing foreclosure in Puerto Rico: how to sell for cash before the auction

If you are behind on the mortgage, the bank has filed the lawsuit or you have an auction (subasta) date, you can still sell the house. A cash sale before the auction pays the bank, keeps the foreclosure off your credit and leaves you the difference if the house is worth more than you owe. The earlier you call, the more options there are. We request the payoff letter from the bank, make the offer in 24 hours and close in weeks, not months.

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Calle con casas de cemento de dos plantas en Juncos, Puerto Rico

What stage am I in and how much time do I have?

Foreclosure in Puerto Rico has stages: collection letters, the lawsuit in court, mediation if the house is your primary residence, judgment, and finally the auction. You can sell at any of them, but the options shrink as it advances. Before judgment there is time; with an auction date, there are days.

If you have a lawsuit, look at the service date and whether a mediation hearing already happened. If you have an auction notice, look at the date of the first auction. With those two facts we tell you whether we can make it in time. We do not promise what cannot be done.

What is the mandatory mediation under Act 184?

Act 184-2012 requires the bank to go through mediation with you before the court can order the sale of your primary residence. The Puerto Rico Supreme Court ruled in 2023 that it is a jurisdictional requirement: without that mediation, the foreclosure judgment does not stand. In mediation the bank has to present you the alternatives for keeping the house.

Mediation is your moment to ask for a modification, a payment plan or time to sell. If you say in mediation that you want to sell, the bank usually gives a window. If you never went to mediation or were never offered it, tell an attorney; it can change the case.

How does a cash sale before the auction work?

We request the bank's payoff letter with the total you owe. We make the cash offer. If the offer covers the payoff, at closing the notary pays the bank, cancels the mortgage and hands you what is left. If it does not cover it, a short sale is negotiated with the bank, which needs its written approval.

What we do not do: buy your house for less than you owe without the bank's approval, or ask you to sign a transfer "in the meantime." If someone offers you that, be suspicious.

What happens if I let it reach the auction?

The house is sold at public auction to the highest bidder, which is often the bank itself. If the auction price does not cover the debt, the bank can keep collecting the difference from you. And the foreclosure stays on your credit history for years. Selling first, even for a little more than you owe, almost always comes out better.

This page is for owners who want to sell before losing the house. It is not a guide to buying at auctions and we will not offer you that.

What exactly do you do?

We talk to you the same day. We review the lawsuit or the notice. We request the payoff letter from the bank with your authorization. We make the offer in 24 hours with the breakdown. We coordinate closing with an attorney-notary, who pays the bank and cancels the mortgage. You pay no commission.

And if you decide you would rather keep the house and seek a modification, we tell you so without pressure. If the house is also inherited or in the name of a relative who passed away, there is one more step: see selling an inherited house. If it owes CRIM or has hurricane damage, we buy it too; see hurricane damage and FEMA.

Frequently asked questions

Let's talk about the house

Tell us what stage it is at: letters, lawsuit, mediation, judgment or auction date. With that we tell you the same day whether we can make it.

How selling your house for cash works, step by step

Other situations we buy in

Sources

This is not legal or tax advice. It is general information so you understand the process; the advice comes from the attorney-notary who takes part in the transaction. Last reviewed: October 15, 2026.