NJ Tax Lien; Title Issue
Happy new year to all my fellow investors!
This deal is a little above my experience but I want to learn the ins and outs since I am now into the deal and am familiar with the processes. Hopefully I can get some feedback.
We had a deal come across our plate from a new wholesaler at the beginning of December. The property was obtained by the current owners/hoarders through an estate. (Mother passed away) The owners did not pay their taxes for years and as such had a tax lien imposed on the property. The wholesaler has negotiated with the owners to pay this lien with the sale of property and has a contract in place. There was also a court order that gave rights to the wholesaler to do such. We are currently locked in to purchase the property at $190K with a flex option agreement; however, title came back with some issues. After title was run, a long lost brother came up and seems to have a legal interest with the property. He is trying to get more out of the wholesaler which could shut the whole deal down. We have two options here.
1. The wholesaler can negotiate with the brother to settle on a price that would make sense for everyone, easier said than done or
2. Let the property go into foreclosure.
Is there anything we can do or suggest to the wholesaler to save this deal or are there missing pieces to this story that I should question the wholesaler about? Any feedback would be appreciated.