Gisele, Lis Pendens is the formal notice that starts the foreclosure proceeding. It just lets you and everyone else know that a lien holder (Bank, County Property Tax, HOA, etc.) is going to start the process and take the home for non payment, if the owner doesn't pay whatever monies are due. It can usually always be stopped, by paying the monies, up until the time of foreclosure sale. Nobody can say if thats the list price, as it depends on if it is a short sale, and if it has been approved by the bank, amongst a million other reasons. It doesn't have to be cash, you can still do the "normal" buyer steps, like getting a mortgage, ect. The catch all depends on what position the sellers is in. Your best bet would be to have a Realtor to guide you through this process. It will cost you nothing as our services are FREE. I would obviously be very interested in helping you, but if not me, be sure to get a Realtor, as these type deals can be very confusing. If you email me and let me know your prefrences, such as max price, what part of Orlando or other area, and probably a bunch more questions, I will be able to send you some listings that will meet those needs, including new construction. Thanks.