Buying a property with 4 liens on it.
I'm looking to buy a property in New Port Richey, Florida.
I went to the property to check it out and it was disgusting. It was vacant, in really bad shape, animal feces in multiple places and overgrowth growing into the property. Overall needs a lot of work - But I'm not concerned about the rehab.
I'm looking to pick this property up from a wholesaler and the property was owned by an individual that died. The wholesaler is telling me the closing is going to take place in about 30 days as court passes the property to whoever in the family inherits it. Additionally, the property has 4 liens in the county clerk which are:
1. Water bill +- $250
2. Paving the streets / special assessment bill for $3000
3. Code enforcement +- $300 for being unsanitary conditions
4. Another special assessment (not sure if the same) for $5475.50
. We are going to use a title company for the closing. Being a relatively new investor, am I taking a risk here with these liens ?
What should I look for to make sure I don't slapped here. Overall there's a there's upside potential on the deal.
Thanks!