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?