Pre-Foreclosure (Notice of Default or Lis Pendens):
Pre-foreclosure (NOD or LIS) is the first stage in the foreclosure process that begins when a homeowner receives a default notice for missing one or more mortgage payments. Owners in default can stop the foreclosure process by paying the past-due payments or by paying off the entire loan balance â€” usually by refinancing or by selling the property. They can also avoid foreclosure by selling before the auction â€” this may have to be a short sale if the homeowner owes more than the property is worth. Homeowners in pre-foreclosure are usually motivated sellers who want to avoid losing their property at a public foreclosure auction.
What this means is that the owners may want to keep their home and may not welcome inquiries, however, it's not out of the question. You would need to contact the bank or homeowner. You're also going to have to figure it out from the picture as to which house it is or visit the local courthouse and access records for NOD. My suggestion to you would be to monitor the status to see if it is put on the market or if there will be a Sheriff sale.
Most of these homes will never be for sale , and currently are not. The only thing that has happened so far is th owner was notified that they are in default on some payments. Lis Pendens (notice of Default) is just the start of a long process that MAY lead to short sale of foreclosure.
Just read the "listing" on Trulia. The company puts the following caveat on all the listings:
Realty Trac then sucks you in to pay to get a list of TRUE foreclosures and pay for them. If you are looking to purchase a foreclosure, your best bet it to contact the county sheriff office, or look on their web site (most list the sheriff sales online) and it's FREE.
Bear in mind though, that the rules for a foreclosure purchase typically need you to have 20% down at the time of winning the auction (certified check or cash), then require you to have the balance of the purchase price (cash or mortgage) within 30 days of winning the bid.
These homes, also, are usually sold in AS IS condition, and some of them you cannot even get in to preview before you bid on them at auction.