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Is it safe to buy a house that is sold because of a lawsuit?

I was looking for houses and found one that I would like to offer. According to the agent, it said this house is sold after confirmation from the court because of a lawsuit. Is it safe to buy a house like that? Is there any other unnecessary worry I need to consider before I make an offer?

Thanks,
PY
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March 24 2010 - Diamond Bar
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Answers (3)

Get a Real Estate Lawyer to check the case.
 
There is always the possibility that a judgement be appealed.

-David

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March 29 2010
I would need to know more about the particular situation to give you a clear answer. But I would consider a court ordered sale to be legit. What you should be concerned with is the title of the property itself. How many liens are on the property currently? Can title insurance be purchased to cover you after you acquire the property?

If you would like I can put you in touch with my title representative to answer all of your questions and concerns.

I hope this helps.
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March 24 2010
Court confirmation takes awhile sometimes months.. If the lawsuit pertains to an heir disputed the ownership, then the courts decide who recieves the proceeds form the home.

Sometimes when you make an offer on a home like this, the courts will make your offer public and try to get a higher one.

The most important issue is to protect your deposit, and it may be best to speak with a RE lawyer.
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March 24 2010
 
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