Are you searching online for ways to “sell my house fast in White House, TN,” but your property is involved in a lawsuit? If so, you may ask, “Can you sell a house with a pending lawsuit?” Our experts at My Tennessee Home Solution answer this question in the following guide.
Types of Lawsuits That Could Impact a Home Sale
A home with a pending lawsuit, or lis pendens, indicates that someone has initiated legal action involving real estate but has not yet received a judgment or decision. The legal disputes may include:
- Arguments over who owns the house
- Mortgage foreclosures
- Unpaid invoices from contractors or homeowner’s associations
- Inheritance conflicts
- Unpaid property taxes
How a Pending Lawsuit Can Affect the Home-Selling Process
Can you sell a house with a pending lawsuit? It’s possible, but not everyone will want to go through the real estate litigation process. This can reduce the pool of prospective buyers because of the uncertainties surrounding the case.
Lending can also be a problem under these circumstances. Many banks won’t lend money to home buyers if the property has a pending lawsuit.
When someone buys a house with a lis pendens, they accept all risks associated with the outcome of the pending case. Still, some buyers prefer unique real estate transactions because they offer an opportunity to negotiate a lower price.
Selling a Property With a Lis Pendens: What Can You Do?
Although selling a house with a lis pendens is challenging, it’s possible. In some cases, it may be advisable to hire a lawyer to file a motion to remove the lis pendens or to settle any outstanding liens or back taxes on the property. You must also inform the buyer of the pending lawsuit.
You could also include a resolution in the sale. In that case, part of the sale price will go toward paying off existing liens.
Need Help Selling a House With Lis Pendens? We Can Help
The answer to “Can you sell a house with a pending lawsuit?” is yes, but the process may be difficult. However, selling the property to My Home Tennessee Solution can speed up the process. Our team has ample experience purchasing properties with legal disputes for fair cash prices.
To learn about foreclosure affecting home sales or to get a quote, call us at (615) 933-5431.
Frequently Asked Questions
Need more clarity on property disputes and home sales? Review our responses to common homeowner questions.
What Should I Expect When Selling an Inherited Property Under Lawsuit?
When selling an inherited home under a lawsuit, it will go through the probate process. However, the lawsuit may delay the probate and home-selling processes.
How Can I Market My Home for Sale With an Ongoing Lawsuit?
If you’re experiencing legal issues when selling a home, you should be honest about the situation. You should also highlight the home’s special features and upgrades to make it more appealing.
Can You Sell a House With a Pending Lawsuit for Cash?
You can absolutely sell a home with a lis pendens to a cash buyer for a fair cash price.
