Mr. Bennett,

I dont see where I misspoke if the LP is cleared at closing it doesnt matter if its 5 seconds or 5 decades it must be cleared before the property can be sold not offered for sale. Certainly being a real estate professional you cant possibly think that I meant it can never be sold. I even wrote supposedly in parenthesis so there would be no misunderstanding and since I just knowingly bought a property with an outstanding LP and had to clear it myself after closing but it looks like I got one anyway.

Furthermore, having 5 years of studying the Latin language, I can tell you that the word pendeo is the base word without the ending. I even looked it up for you to be sure.
pendeo : to hang, depend, be suspended / be uncertain, undecided.
Lis comes from the word liceo which means a sale.

I wouldnt depend so much on wikepedia as anybody can write an article and submit it.

You are referring to the legal meaning of the term. As I said I am speaking of the literal translation from Latin.

ergo- what I said is exactly what I meant to say, no translation is necessary.

Veni vidi vici!

Craig,
As John said, "Lis Pendens" is Latin for "suit pending" and is filed for any number of reasons that he listed. The most common reason today is due to the homeowner's delinquency on mortgage payments (with HOA payments following close behind).

The homeowner has an 'equity right of redemption" in Florida law which gives the right to redeem the property by bringing all payments, including late fees, attorney's fees and interest, etc., current right up to the sale at the courthouse steps.

If you are seeing listings on Trulia one day and gone the next, the logical reason is that the homeowners have managed to work out a loan modification with the bank or otherwise come current on their payments. I have also seen Lis Pendens filed more than ones on the same home over the course of a year or two but no foreclosure, which tells me the homeowner and the bank have worked out the financials.

Our company has access to some software that not every company or agent has that may be able to solve the mystery of these disappearing listings. Also, we have friends at Trulia whom we could contact to locate to try to track down the listing agent to verify why the listing was removed.

Best regards,

Sharon Alters, CDPE, GRi
Distressed Property Specialist
Watson Realty
Cell 904-673-2308
sharon@teamalters.com

Hi,

I like Christian's answer. Probably, he is right too.

But, how did he know about the sign on my truck?

Bliane Rabe
904-874-0814

while I know, what Christian means, I think maybe he meant to say - with a Lis Pendens means is that some 3 rd person is making a claim against a property. Some examples,
1. hoa fees not paid
2. contractors for work done on house and not paid
3. property taxes
4.IRS
5. Electric company
6. claims of ownership from prior transactions.
7. Mortgage.

We all knew what you where referring to - the RT homes on here. Drives us all crazy.

how I think Christian might have miss spoke - the sale can go forward, but at the closing table, all these claims will be paid at closing from buyers moneys and the title will be cleared and title insurance issued.


Also I always thought it translated to - "A suit Pending" but unsure about this

Lis Pendens is latin and it means to stop or hold. Legally what it means is no one can make any transactions of the property be it buy sell mortgage, what ever (supposedly). It does not have to be a mortgage and can be something as simple as someone filing an easement. In reality it means nothing but the fact there is some action taking place and could mean there may be a foreclosure suit filed soon but is nothing definite. It does not mean the property is for sale and is about as good as knocking on doors asking if somebody wants to sell. You should just ignore these as they are a waste of time. It's easier to put a sign on your car that says "we buy houses" with your phone number.

Hi Craig,

Some great answers already. Lis Pendens is the letter that is filed with the court house that the owner of a home will have a law suit against them for failure to pay on their mortgage. This is usually the first step in the foreclosure process. This does not mean that the property is for sale only that the lender is notifiing the home owner that the process has started to foreclose. In Florida this could take several months while in the meantime the home owner can make up payments, negotiate with the lender, list the home as a short sale and other that could cancel the foreclosure action.

I would be happy to speak with you about this process and what it means to a potential buyer. There is no obligation. I can be reached at 571-1358.

All the best
Charlie
Charlie Chorman
REALTOR
571-1358
yourrealtor@att.net

Craig,

Its realty track wanting you to sign up and pay them some money, to deliver you information that a home may at some later date, maybe come on the market.

Unless you have nothing else to do, stay away form these.

A Realtor has through the MLS all listings that are on the market. If you want to buy a house, find a Realtor- ONE that you like and stick with him.

John

Craig,
Lis Pendens basically means that the mortgagee has notified the mortgager that they are beginning foreclosure process. As to whether or not any given property is currently listed for sale or has been listed for sale within our MLS is easy enough to determine.

Some homeowners have had their homes listed while trying to renegotiate their loans with their mortgagee or in hopes of getting a willing buyer and can get the mortgagee to accept a short sale.

If you wish to contact me and provide the addresses that interest you, I'd be happy to assist you in determining the status of those properties and see if the lenders are willing to work with a buyer at this point. Each situation is different so there really is not pat answer as to what the bank may be willing to do at any given point.

Let me know if I can be of assistance.

Tim

Craig,

Simply put Lis Pendens is a notice to the homeowner that the foreclosure process has been started. The homeowner is behind on their mortgage and the bank has started the process. The homeowners however have plenty of time to bring the loan current. These properties probably have not been listed yet and that is why no one can find any info on them. There is a possibility for you to purchase the home but you would probably have to go knock on the door and speak directly with the homeowner. Have you considered looking at any foreclosures or short sales. There are some great deals in these properties as well. If your interested send me a email and let me know what your criteria is. nflproperties@gmail.com

Craig,

The LP properties may or may not be posted for sale. A licensed REALTOR can help you find the 'listed' properties, which should cut your search time down considerably. Many properties either in foreclosure or headed for foreclosure are listed for sale in the Multiple Listing Service (MLS).

Lynn

Hi Craig,

Thank you for your question on Trulia. Lis Pendens is when a lien holder begins the foreclosure process by filing a Lis Pendens in court. This is a formal 'notice of intent to foreclose', which involves the seller directly. As a buyer, it simply means to you that the property you're interested is in distress and headed for foreclosure. Please call with any questions........

Lynn