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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Lis pendens is of little import at a foreclosure auction Posted by Ward-CA- on March 30, 2002 at 1:46 PM In Reply to: Pending Litigation? posted by Char on March 29, 2002 at 8:31 AM : What are some of the ways that a pending litigation could affect the title of a property? Also some of these sites that post foreclosures or pre-foreclosures, would you be able to buy them right off the site by contacting the person posting the property? : Or does this just mean that it is going to auction? I have seen alot of places that if you pay a monthly fee, you can see the lists of pre/foreclosures. Just wanting to know if you can't buy them why would they post them? I am new at this and it seems very interesting. Which is easier to buy pre/or foreclosures? I hope you don't get upset with so many question. I will probably have more along the way. Thank you so much for your patience.......CHAR =•=•=•=•=•=•=•=•=•=•= Char, Any argument about who owns the property, or challenges as to the percentage one might own, or any argument about the owner’s promise to sell to someone and then reneged later, etc. are all examples of reasons why property might be in litigation. Since the owner's equity is the most junior equity position in a property, any foreclosure sale will wipe it off, and along with it, any lis pendens concerning said equity. So a foreclosure automatically wipes away any concerns over the typical lis pendens. No, you can’t buy property from the service that just provides a list of what’s in foreclosure. If you want to buy you’d have to convince the property owner to sell to you and agree to all other details involving the typical sale of property. You don’t need as much knowledge, money or time to buy property from a motivated property owner in default before the auction sale. But by the same token, you have a greater profit potential at the auction sale. Hope this helps. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : What are some of the ways that a pending litigation could affect the title of a property? Also some of these sites that post foreclosures or pre-foreclosures, would you be able to buy them right off the site by contacting the person posting the property? : : Or does this just mean that it is going to auction? I have seen alot of places that if you pay a monthly fee, you can see the lists of pre/foreclosures. Just wanting to know if you can't buy them why would they post them? I am new at this and it seems very interesting. Which is easier to buy pre/or foreclosures? I hope you don't get upset with so many question. I will probably have more along the way. Thank you so much for your patience.......CHAR : =•=•=•=•=•=•=•=•=•=•= : Char, : Any argument about who owns the property, or challenges as to the percentage one might own, or any argument about the owner’s promise to sell to someone and then reneged later, etc. are all examples of reasons why property might be in litigation. Since the owner's equity is the most junior equity position in a property, any foreclosure sale will wipe it off, and along with it, any lis pendens concerning said equity. So a foreclosure automatically wipes away any concerns over the typical lis pendens. : No, you can’t buy property from the service that just provides a list of what’s in foreclosure. If you want to buy you’d have to convince the property owner to sell to you and agree to all other details involving the typical sale of property. : You don’t need as much knowledge, money or time to buy property from a motivated property owner in default before the auction sale. But by the same token, you have a greater profit potential at the auction sale. : Hope this helps. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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