Property Q&A in Cleveland>Question Details

vidhya.balaji, Home Buyer in Cleveland, OH

Can we see this house? Is this near Mayfield Heights?

Asked by vidhya.balaji, Cleveland, OH Thu Apr 26, 2012

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It is on the market. Lis pendens means that the seller has been notified of foreclosure proceedings, but they have not yet begun, and actually this can take as long as 6 months or two years. As long as the house is in the market, the possibility of the actual foreclosure occurring is pretty low, as long as it can be a short sale and the bank believes they can capture some of the monies owed. If the foreclose, it goes to sheriff auction, bank buys it back, sticks it in their inventory, and waits (sometimes a long time) to put it back on the market. The price will be roughly what is owed plus bank costs. We could find that information as well.

If you need help, let me know.

Tari Sweeney
0 votes Thank Flag Link Fri Apr 27, 2012
....And yes, it is near Mayfield Heights....
0 votes Thank Flag Link Fri Apr 27, 2012
I don't know what the address of this home is, but this notice on Trulia is a notice of default and has not been foreclosed on at this time. There are other homes in this area for sale if you are interested in looking at those.

Duane Johnston
Howard Hanna Real Estate,
North East Ohio Realtor
0 votes Thank Flag Link Fri Apr 27, 2012
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