Posted by Gary CA on July 13, 2004 at 24:37:57:
One other possibility is contacting the lienholder(s) and buying the lien(s) from the lienholder(s) at a discount.
Buying Home with Liens - Posted by Dan Bennett
Posted by Dan Bennett on July 12, 2004 at 11:55:32:
Hi,
New to the board and find it very informative.
Here is my scenario…I have a chance to buy a property valued at 200k in Florida. Only problem is the home has several liens and judgements against it. These are NOT mortgage liens or judgements against the property per se, (not mortgages), but against the individuals personal credit. The property is in a hot market and in great shape, so my question is this…can it be sold around the liens and judgements against the individual or will they all have to be paid to obtain title to the property? Thanks for any advice or experiences. Dan
Re: Buying Home with Liens - Posted by Bill H
Posted by Bill H on July 12, 2004 at 17:55:12:
Dan:
They will remain and become your problem. They must be (a) paid off, (b) wiped off by foreclosure of a senior lien, or (c) lapse due to time and are not renewed.
For you to sell the property and get title insurance they will have to be dealt with.
Good Luck,
Bill H