Foreclosure specialists,lawyers,ect.

We hv a situation in witch a buyer put approximate. 90k in a new build home that he does not own to get the home to a C/O status. The buyer is ready to close from the bank.The property is move in ready. The property has title issues with a few "lis-pens" that are going to stick for now. There is not enough equity in the home to satisfy the lis-pens and the court has allowed them to stay. There is a 1st lien on the property from a private lender, then the lis-pens to follow. What are the pros and cons of the buyer moving in before closing?
  • January 22 2011 - Buffalo
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Answers (7)

Best Answer

Lets focus on moving forward, not why did the buyer put money into a home he does not own yet. Are there any other solutions other than an appeal to the ruling of the lis pens,.....a possible foreclosure from the 1st lien holder, and/or bankruptcy by the seller. Again, what would be the pros and cons of the buyer moving in now?
  • January 22 2011
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Profile picture for Blue in d Nile
I'm still unclear why someone would put 90k tons of concrete in a newly built property they don't own.  And are there really Witches in Buffalo?

And a "period" after "approximate"?

No one would want legal representation from someone that writes like that!
  • January 22 2011
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Well mike. When ur told by an attorney the lispens are frivolous and they will be removed, some people tend to take risks to get what they want. I believe if you help enough others get what they want, you usually get what you want with genuine intentions. Thanks for your professional opinion!
  • January 22 2011
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Hey...sorry....wasn't looking for it to be the "best answer" new to zillow....If you have some advice....we would appreciate your honest advice! Thank you!)
  • January 22 2011
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I am not an attorney, but my guess is the 90k is an unsecured loan that would be wiped out by either bankruptcy or foreclosure, which leaves the homeowner a squatter unless they have a rental agreement.

Why anyone agreed to such a scenario is beyond me.
  • January 22 2011
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Profile picture for sunnyview
I am sorry that you feel your answer is the "best answer" without allowing any discussion and that you chose to gave yourself a thumbs up for it to boot.

Your posts have been flagged and hopefully Zillow can explain what "Be HONEST" in the good neighbor poilcy here means in terms of using Advice. Personally, I do not think that this type of post is good way to start.
  • January 22 2011
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Profile picture for wetdawgs
Putting your own answer as a "best answer" is winner for unprofessional conduct on Zillow.
  • January 22 2011
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