Um, $42k lien? Really?

[Jennifer Talcott]

A little upset right now so this is a little bit of a rant and (another) warning to investors to do your due diligence on properties before you buy them.

Just got the lien search from the seller's title company today on a the property is supposed to close tomorrow. The lien search showed a $15k+ code violation, but no lien against the property. So, I called the county and discovered that not only was the code violation a lien against the property, but that the full amount was actually over $42,000! because of daily penalties accrued since 2011! (This is an REO.)

Sooo, I have a call in to my mentor to get her advice on whether to cancel, or see if my buyer can get the $42k reduced to a much lower amount, or see if the bank wants to get it paid off before he buys the place.

Anybody have any ideas?

[Account Closed]

Hi Jennifer,

I'm a little confused about your post. Unless this is a trustee or sheriff sale, why are you upset? If this is an REO, you should get clear title upon transfer of ownership. The code violation lien is the bank's problem, not yours. Since@Wayne Brooks is an agent and investor in Florida, maybe he can clear things up.