New Listings
Click on the "New Listings" button to see agent view profiles of today's new listings.
MLS# 1608393 - 0 Hwy A, Adams - Vacant Land, 27+ acres - $108,000 - Jerod Bennett
MLS# 1608418 - 5008 Prairie Rose Ct, Middleton - 3 bed/1.5+ bath - $439,000 - Kerri Campbell
New Accepted Offers
10 Eagles Perch, Madison - TJ Vitense
WRA Legal Hot Tip
Q. The agent has a short sale property listed. The owner has offered the lender a deed in lieu of foreclosure. The property has a judgment lien against the owner. Can the property be transferred without paying the lien?
A. A deed in lieu of foreclosure occurs when a property owner in default on his or her mortgage decides to quitclaim the property back to the lender rather than attempt a short sale or go through the foreclosure process. When a deed in lieu of foreclosure is considered, the bank should work with the title company to determine the status of the title to the property because any mortgages, judgments or liens filed against the property or created by the borrower will likely remain against the property if deeded to the bank. Thus, a deed in lieu of foreclosure is generally used only when title is clear. If other liens have attached to the property, a foreclosure action becomes necessary because a foreclosure removes the liens of all lenders, creditors and other lienholders named as parties in the foreclosure complaint.
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