Zillow Advice: Buying a Foreclosure - is a preforclsure for sale http://www.zillow.com/advice-thread/is-a-preforclsure-for-sale/502877/ Zillow Advice | Zillow Real Estate As Realtors, we&nbsp;normally ... http://www.zillow.com/advice-thread/is-a-preforclsure-for-sale/502877/ As Realtors, we&nbsp;normally show properties that are listed on the Multiple Listing Service (MLS). If a Seller is in some form of financial distress, they may try to sell it as a Short Sale, meaning that the proceeds from the sale won't be sufficient to pay off their mortgage. These are normally listed with an agent and appear&nbsp;on the MLS. If a house is in "pre-foreclosure", it normally means that the lender has started foreclosure proceedings. But until the bank completes the process and takes title, they don't own it and therefore&nbsp;can't sell it. So the house is in limbo, and as far as we know, not available for a buyer to purchase. But once the bank takes title, they will hire a Realtor who specializes in what is known as REO properties, and they will list it on the MLS. So if you know of a property in this status, you may have to wait until the house hits the MLS. Sun, 21 Jul 2013 18:34:00 GMT http://www.zillow.com/advice-thread/is-a-preforclsure-for-sale/502877/ 2013-07-21T18:34:00Z No, not unless it is listed ... http://www.zillow.com/advice-thread/is-a-preforclsure-for-sale/502877/ No, not unless it is listed as a current short sale. "Preforeclosure" is not a house to waste much time on. If it is not listed for sale in some way by either the owner or bank, move on. Sun, 21 Jul 2013 15:46:00 GMT http://www.zillow.com/advice-thread/is-a-preforclsure-for-sale/502877/ 2013-07-21T15:46:00Z Good morning! the pre-foreclosure ... http://www.zillow.com/advice-thread/is-a-preforclsure-for-sale/502877/ Good morning! the pre-foreclosure start with&nbsp;a notice of lis &nbsp;pendens a written notice that a lawsuit has been filed which concerns the title to real property or some interest in that real property. The lis pendens (or notice of pending action) is filed with the clerk of the court, certified that it has been filed, and then recorded with the County Recorder. This gives notice to the defendant who owns real estate that there is a claim on the property, and the recording informs the general public (and particularly anyone interested in buying or financing the property) that there is this potential claim against it.&nbsp;<br/>Depending the location of the court (State)the timing to go to the market for sale varies &nbsp;a lot. Sun, 21 Jul 2013 15:35:00 GMT http://www.zillow.com/advice-thread/is-a-preforclsure-for-sale/502877/ 2013-07-21T15:35:00Z The lousy term pre-foreclosure ... http://www.zillow.com/advice-thread/is-a-preforclsure-for-sale/502877/ The lousy term pre-foreclosure usually means a Short Sale, but the term is so incorrect it could mean other things like a house that is expected to go into foreclosure. Ask, whoever is using the term, if it is a short sale. Sun, 21 Jul 2013 15:31:00 GMT http://www.zillow.com/advice-thread/is-a-preforclsure-for-sale/502877/ 2013-07-21T15:31:00Z