Virginia  |  Real Estate Law

Legal Question

Asked on: 11/13/10, 10:28 am

I've been trying to buy a foreclosure... I just noticed on the court docket an entry that says "Mot/Pet To Sub Purchaser". I attempted to google what that means and find varying answers...

1 Answer

Answered on: 11/19/10, 5:19 am by Daniel Press

That means that the foreclosure sale has happened, and that the original buyer at the foreclosure sale (probably the lender itself) sold the winning bid to another buyer. This is often done in order to minimize recordation and transfer taxes.

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Chung & Press, P.C. 24 Greene St. Cumberland, MD 21502

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