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Updated over 9 years ago on . Most recent reply

User Stats

18
Posts
3
Votes
Lynn Por
  • Investor
  • Naperville, IL
3
Votes |
18
Posts

Lis penden

Lynn Por
  • Investor
  • Naperville, IL
Posted

Hi , I try to check the public record and notice some properties have lis pendens . On the other hand , most of the outstanding mortgage are way beyond the price the bidder will pay . If the house is sold , can I say the secondary liens will be wiped off since the money will go to pay the first mortgage and any other outstanding tax ? If that is the case, Should I feel more safe to bid the bank owned properties ?

I know we should pay for the title search . But it does not make sense to pay 250 for every title search before bidding for the houses we can't guarantee to get  in the bidding war..

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