About Brettney Gunning-Rausch Expertise I am a licensed real estate agent for RE/MAX in Pennsylvania. I am available to answer any question you may have regarding buying or selling a home.
Experience Residential
Organizations PAR- Pennsylvania Association of REALTORS®
MCAR- Montgomery County Association of REALTORS®
Education/Credentials The Accredited Buyer Representative (ABR®) designation
Executive Club Award 2006
Expert: Brettney Gunning-Rausch Date: 6/17/2007 Subject: land purchase
Question i want to purchase a 1ac. building lot and i find that it has a list pendens on the title from someone who wanted to purchase the property previously with a down payment of 8500.00 what rights does that person have ? what if i wanted to pay them back their down money. do they have to settle for 8500.00? thanks
Answer Dennis,
I am lucky and have not had to deal with any pending lawsuit on a property. 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. After the notice is filed, anyone who purchases the land or property described in the notice takes subject to the ultimate decision of the lawsuit. I am not sure if you can go ahead and just pay off the $8,500 dollars since a lis pendens was filed in court. I would contact a real estate lawyer and get some advise.
