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What does pending mean? When an offer on a home has been accepted and is now under contract, it’s listed as “pending.” In other words, Lingscheit shares, if a home is pending it has “an ...
In some cases, pending could include the due diligence period, where the property undergoes an inspection and a public record check is done to make sure there are no legal issues. In other markets ...
Recording a lis pendens against a piece of property alerts a potential purchaser or lender that the property’s title is in question, which makes the property less attractive to a buyer or lender. Once the notice is filed, the legal title of anyone who purchases the land or property described in the notice is subject to the outcome of the lawsuit.
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Pendente lite is a Latin term meaning "awaiting the litigation" or "pending the litigation" which applies to court orders which are in effect while a matter (such as a sale of goods or a divorce) is pending. [1] In divorce cases, a pendente lite order is often used to provide for the support of the lower income spouse while the legal process ...
The lender/private investor (the trustees) use a title company to issue the TSG, which give notice of the pending foreclosure. A Notice of Trustee's Sale notify homeowners and mortgage borrowers that their property will be sold at a trustee's sale on a specific date and at a specific location. The actual sale typically completes a non-judicial ...
The post More Pending Homes Are Falling Through, but No Need to Sound the Alarms. The share of contract cancellations - pending listings that have gone back on the market without a sale - has ...
Nevertheless, in an illiquid real estate market or if real estate prices drop, the property being foreclosed could be sold for less than the remaining balance on the primary mortgage loan, and there may be no insurance to cover the loss. In this case, the court overseeing the foreclosure process may enter a deficiency judgment against the ...