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Home Buyer
Palm Bay

I'm a 25 year old looking to buy a home, and I have begun my search. However, I am confused with the homes I

am finding in my area. There is one under Lis Pendens listed at $15,000??? How does this work? Would my offer be made for $15,000? Seems too good to be true.....another one was at $11,000!?!?! Can someone explain this a little?

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Cindi Hagley, W…
Cindi Hagley, W…
Real Estate Pro
San Ramon
Sat Jul 19 2008, 22:12

Buyer Beware! Do yourself the biggest favor you could do for yourself with your first home purchase....get a Realtor to represent you. If it seems to good to be true...it probably is. The seller pays yoyr Realtor.....and not using one will ultimately cost you. Good luck!

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Lynn911.com Dal…
Lynn911.com Dal…
Real Estate Pro
Dallas
Sat Jul 19 2008, 19:20

I agree with Marie, UNLESS the title can be transferred in your name at closing. You need a real estate agent involved there are many people out there who are scamming others "innocent targets". In order to purchase a home more than likely you need to be qualified for a home mortgage.
http://www.lynn911.com http://www.homes-for-sale-dallas.com

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Maria Morton
Maria Morton
Real Estate Pro
Prairie Village
Sat Jul 19 2008, 12:19
FIRST ANSWER

Liz Pendens means there is a lawsuit pending which brings the title under question. This means that the title is not free and clear and may not be legally transferred to a new owner. Please be very careful about getting into a property where the title cannot be transferred to you.
One of the services realtors provide is making sure the title company does the title check and clears it before closiing; perhaps even before you make an offer. Most title companies also offer title insurance. Be sure you have this so that if a cloud is found on the title later, the title company will take care of fixing it.

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