A lien question
I have a question for everyone. I'm about to put a property under contract, and the original owner is in a sticky situation with the county. He have permits to work on the house, and the work is about 85% completed. Unfortunately, his health is deteriorating, and he can't complete the house. The city is charging him 25 dollars a day because the house is not completed. Apparently, this lien is transferred to the new owner. Once the property is completed the new owner can have the city verified the work is done and ask for a hearing to request a settlement of the lien. The settlement is usually around 30% of the total amount due. I'm a wholesaler. How the heck do I explain this to my end buyer? Have anyone come across something similar? All responses are greatly appreciated.