Quote:
On 2004-08-08 19:05, mommyo wrote:
Are you able to purchase a home that is status at Lis Pend and REO??
thank you, :-?
You are apparently reading the bank's sheet regarding properties it has available. REO is real estate owned. The bank owns it and has the right to sell it.
A Lis Pendens means that an action to foreclose has been initiated. The bank does not own the property yet, so it does not have the right to sell it. However, the owner of the property may be very motivated by now. I suggest you contact them directly.
Quote:
On 2004-08-08 19:05, mommyo wrote:
Are you able to purchase a home that is status at Lis Pend and REO??
thank you, :-?
You are apparently reading the bank's sheet regarding properties it has available. REO is real estate owned. The bank owns it and has the right to sell it.
A Lis Pendens means that an action to foreclose has been initiated. The bank does not own the property yet, so it does not have the right to sell it. However, the owner of the property may be very motivated by now. I suggest you contact them directly.