When a property is listed Les Pendins is it common to acquire at a lower price than listed?

Bill Powelson
Home Buyer
32117

How do I figure out who to contact to make my offer?

Answers (3)
Scott Godzyk
Agent
New Hampshire

Usually there are more than 1 lein at this point, 1st and 2nd mortgages, back taxes etc... You will need to first see if it is listed and contact the listing agent, otherwise you would have to check the deed to see what leins are attached to it. In most cases the home owner owes more than it is worth and it is not able to be sold at this point unless you want to pay more than market value. The foreclosure auction is the tool used to clear the leins from the title and allow the bank to sell it. good luck with your search

Sat Nov 1 2008, 06:58
Joyce
Agent
South Daytona, FL

Hello Bill,

The Lis Pendens shows one lien ...usually the First Lien Holder not the second or any other liens. I have had the Second Lien Holder buy the property from the First Lien Holder in the past. If you want information on a property I can go behind the scenes and let you know what the total debt is. You can also view foreclosures at the link provided.

Sat Nov 1 2008, 05:35
Jim Mellen
Agent
Williamsburg, VA
FIRST ANSWER

Bill,
Lis Pendens is a recorded document to stop any sale of a property. Think of it as a lien. you probably need to consult with the agent listing the property or if it is not listed, you can call the attorney who filed it. You should be able to go to your local courthouse to review the deed and recent documents to try to see what is happening. Good luck!

Web Reference: http://www.JimMellen.com
Fri Oct 31 2008, 19:17

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