Pre-Foreclosure In SC
As I understand it a foreclosure is basically a 5 step process. I know this will very from state to state but basically step 1-the owner falls behind. Step 2 a notice is sent to the owner and filed at the court. Step 3- the court determines that it's final and sets a sale date. Step 4-the sale is advertised in the paper and step 5 is the auction.
I'm trying to get in at step 2 and when I went to the court house to view the Lis Pendens I was told by the clerk that I had to have either the plantifs (lender) or defendants (owner) name. I'm told that in South Carolina there is roughly a 30 day period between step 2 and step 3 in order to give the owner time to save the house. This is the perfect time for investors but how do you find out what properties are in this stage. You can't view the file unless you already have the owner and/or lender's name. Please help with any advice anyone has.
Thanks
rwilson
Lis Pendens is public knowledge. You may need to go back and remind the clerk of that.
Thanks,
OnTheWater
Hi Rwilson,
I have found after many years that the people in the court house (behind the counter) aren't overly helpful!
It sounds to meet like they have the Lis Pendis mixed up with all of their other chancery files. Some court houses keep the LP's in an accending file, from the most recent filed LP to the oldest, and then some court houses have their files way out of wack, and there seems to be no organization! Sounds like you found one!
You will be able to look on their computers there and sort through all of the files to weed out the foreclosures from the rest. They may be listed by case number or by the defendants name. Once you gather your list from the computer, you can then take the list up to the counter and tell them that you want to view all of these files.
Best of Success!
BAMZ
I need more info to answer your question...
1) purchase price
2)exisitng loan amount
3) FMV
[addsig]
loan amount 400k
existing loan 900k on his residence( valued at 1.5 million )
fmv of the flip about approx 400k