Duplex with Lien on it
What are the risks/benefits of buying a home with multiple liens on it? Total of about $75k.
They’re asking too much but if I can get it at a good price it should cash flow between 400-600$ a month depending on the interest rate. It’s a duplex in a nice, growing area. It seems to be in good shape, but it needs a new roof. The seller has agreed to a credit for it.
The owner also wants to remain as a tenant for a year, which makes me nervous since he hasn’t paid taxes. Advice on letting him stay?
Most Popular Reply
You should not purchase a home with an existing lien on it. Purchase via a title company and make sure all liens are cleared to convey clear title.