In my experience in Nevada, California and Oregon for more than 35 years as an investor and developer, lis pendens generally has nothing to do with trust deed foreclosure, although I suppose it might in rare instances in some states. Here's the deal with lis pendens: If guy A sues guy B, guy A's lawyer will file a lis pendens on guy B's property, which means that guy B's property get a cloud on the title because he's getting sued and may lose. The property may go into foreclosure, but the lis pendens is separate. It can be filed pre-Notice of Default (foreclosure stage 1) or afterwards.
It may be that there's a divorce involved and the lawyers on both sides filed a lis pendens so the other side's spouse can't sell the property. Maybe the property owner is being sued to collect a debt. It's safe to assume there's litigation of some kind, I'd say. Maybe there's a judicial foreclosure (as opposed to a trust deed foreclosure) going on. Hard to say.
I could go on, but are there any FL people who can shed light on this? I just don't see how a lis pendens relates to a foreclosure. Feliciano thinks he's looking at a great deal, and may be, but I'm not seeing it. It may be because of my ignorance of FL state law.
Feliciano, do you know a lawyer or a real estate agent with a little gray hair who can help? I will say this--people avoid properties with a lot of problems attached, and if you can figure a way through this one, and work hard, you might make a good deal without a lot of competition. Just know there are no easy ways.... more