You’re ready to sell your house, but you find yourself in a serious situation, such as a pending foreclosure or overdue property taxes. Your personal or financial situation could result in a lawsuit attached to your residential property.
Can you sell a house with a pending lawsuit? As an experienced home buyer in Detroit, Michigan, Wise Property Buyers knows how complex a claim can be when attached to a real estate transaction. Let’s explore what it takes to sell a house with a claim over it.
Lis Pendens: What Does It Mean?
Lis pendens is Latin for “suit pending.” If you intend to sell a house with a lis pendens, it could affect the sale process, as it indicates that legal action involving the property is pending.
Most claims deal with title issues or claimed ownership. The notice would likely be on record at the local county records office, so potential homebuyers would be alerted to any disputes with properties they intend to buy.
Reasons People May File a Lis Pendens
People file a lis pendens for many reasons, including:
- Foreclosure
- Contract disputes
- Unpaid work or unpaid debts
- Issues involving an inherited property
- Divorce disputes, where both spouses claim ownership rights to the house
What You Can and Can’t Do When Selling a House With a Pending Lawsuit
Can you sell a house with a pending lawsuit? You could sell your home if a real estate lawsuit is pending on the property. However, most buyers will be cautious about dealing with properties tied up in legal disputes because of the extra challenges they pose, including the risk that they could lose the property or their interest in it.
Sellers with a lis pendens on their homes must comply with disclosure requirements when selling their property. Hiding a pending suit isn’t advisable. Attempting to do so will trigger long-term challenges.
The best course of action while the dispute is active is to find a buyer or investor willing to take on the challenge at the right price. That’s why cash home buyers are ideal for situations like this. They’re not only knowledgeable about home sales with a lis pendens; they also buy fast, offer fair cash prices, and help their clients navigate the home-selling process for their specific situations.
Can You Remove a Lis Pendens?
You could file a motion through an attorney to expunge a lis pendens. For the motion to be successful, you’d have to prove that the person making the claim on the house doesn’t have a good chance of succeeding in their case.
Don’t Let a Pending Lawsuit Stop Your Home Sale
Can you sell a house with a pending lawsuit? Although it may be challenging, a home sale is possible even if a lawsuit is pending.
If you’re experiencing a legal dispute regarding your home, such as title issues, turn to Wise Property Buyers in Detroit, Michigan. Our professionals have experience with unique situations regarding home sales, including unresolved claims, deeds of trust, contingent sales, and pending foreclosures. Contact us today at (313) 513-8824 to receive your free, no-obligation cash offer.