Sell House in Pre-ForeclosureBuffalo NY — Before the Sheriff Sale

Pre-foreclosure is the period after a homeowner has defaulted on their mortgage but before the foreclosure process has been completed. In New York, pre-foreclosure formally begins when the lender files a lis pendens with the Erie County Clerk. From that point, the homeowner still owns the property and retains the right to sell, refinance, or cure the default.

New York has the longest foreclosure timeline in the country — a judicial process that typically takes 18 months to 3+ years from lis pendens to completed foreclosure in Erie County. The pre-foreclosure window is substantial. Most Buffalo homeowners who receive a lis pendens have significantly more time than they realize — though that time shrinks fast. Erie County’s older housing stock (pre-1970 two-families, postwar ranches, aluminum-sided capes) often has deferred maintenance that compounds the financial pressure while the foreclosure clock runs.

Yes — and this is often the best financial outcome. During pre-foreclosure you still hold title, which means you can sell the property, pay off the mortgage from the proceeds, and potentially walk away with equity intact. Once the property goes to Sheriff Sale, the court controls the sale and equity is often lost.

Selling in pre-foreclosure is significantly less damaging to credit than a completed foreclosure. A foreclosure stays on your credit report for 7 years and typically drops your score by 100–160 points. A pre-foreclosure sale, even with months of missed payments already reported, avoids the foreclosure notation itself.

A lis pendens is a notice filed with the Erie County Clerk that a foreclosure action has been commenced. It doesn’t transfer ownership. A property with a lis pendens can still be sold, but the buyer’s title company will require it to be discharged as part of the closing. In a cash sale to NCB, we handle this coordination with the lender and title company.

If there’s sufficient lead time, yes. NCB can close in 7–14 days. If a Sheriff Sale date is approaching, the timeline depends on how far away the date is and whether the lender will adjourn the sale while a payoff is being arranged — which lenders often do when presented with a signed purchase contract. Contact NCB as soon as you know about a sale date: (716) 557-7005.

Pre-foreclosure: you still own the property, the lender has filed a lawsuit but no judgment has been entered, you retain the right to sell or cure. Foreclosure: a court judgment has been entered, a sale date has been scheduled or completed, and title is transferring away from you. The pre-foreclosure window is where you have leverage. See the full Buffalo Foreclosure Resource Center for the complete NY timeline.