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Ask Maverick Your Own Question
Maverick, Lawyer
Category: Real Estate Law
Satisfied Customers: 6392
Experience:  20 years professional experience
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Can I enter into a contract to sell my house while there is

Customer Question

Can I enter into a contract to sell my house while there is a notice of default? Will that contract delay the setting of a trustee sale date... If the house sells before the trustee sale date can we just move forward as a normal sale?
JA: Because real estate law varies from place to place, can you tell me what state this is in?
Customer: California
JA: Have you talked to a lawyer yet?
Customer: No... I don't think it is necessary... my understanding is that the NOD gets filed, 90 days later they can set a trustee sale date. I have known people who have sold their house with a notice of default
JA: Anything else you think the lawyer should know?
Customer: no that sorry, finger slip... No it think that is about it... just want to sell the house before it can be foreclosed on, there is plenty of equity so does not need to be a short sale
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Maverick replied 1 year ago.

Welcome! My name is Maverick. Please give me a few minutes to analyze and/or research your inquiry and I will be back.

Customer: replied 1 year ago.
Okay, standing by
Expert:  Maverick replied 1 year ago.

You still retain title to the home until the property is sold at a foreclosure sale or the title reverts to the mortgage lender after a foreclosure sale that has no buyers. Listing a home for sale between filing the Notice of Default and the foreclosure sale is permitted and can resolve a foreclosure if sale of the home is completed before the foreclosure sale date. This is because the loan will most likely be paid off by the sale transaction.

It is best to inform the lender in writing and see if he/she/it agrees to postpone the foreclosure sale. The lender does not have to agree to delay the foreclosure sale date; but may have incentive to work with you.

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