Property on sale with 2 liens

[Victor Genel]

Starting the process of placing an Ocala property in the market.  It's an owner financed arrangement with a 2nd lien to a private lender.  The contract requires balance payment to the lien holders by February 2026.  The market has gone down during the duration of the 3 years of the contracts.  I may be able to sell the property to cover the 1st lien holder (owner financed) but not the 2nd lien holder (private lender).  Any advice on my options?  Thanks in advance.

[Don Konipol]

Quote from @Victor Genel:

Starting the process of placing an Ocala property in the market.  It's an owner financed arrangement with a 2nd lien to a private lender.  The contract requires balance payment to the lien holders by February 2026.  The market has gone down during the duration of the 3 years of the contracts.  I may be able to sell the property to cover the 1st lien holder (owner financed) but not the 2nd lien holder (private lender).  Any advice on my options?  Thanks in advance.

Any advice needs to know whether or not the loans have been personally guaranteed and if so you’re ability to cover any shortfall in sales price, and finally if your other assets are exposed to loss in event of a judgement or whether they are “asset protected”.  Otherwise advice given may be completely incorrect.  Please especially avoid those posters answering with generic AI responses that seem to cover all situations but are actually completely useless.