Starting Out
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by

Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Creative Real Estate Financing
presented by

Tax, SDIRAs & Cost Segregation
presented by

1031 Exchanges
presented by

Real Estate Classifieds
Reviews & Feedback
Updated over 1 year ago on . Most recent reply

Which comes first in a preforeclosure: contract or call the lender?
My first time dealing with a property that has been served lis pendens but not the final foreclosure notice. Seller agreed to let me contact their lender for payoff amount. Do I get it under contact first or call the lender for the payoff / short sale first? Seller wants to sell it to me for the amount the lender will accept. Thank you!!!
Most Popular Reply

Quote from @Minna Reid:
Remaining balance and payoff amount are not the same. Pull the payoff statement before you make any decisions.
thanks again.