Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 9 years ago,
Hurdles involved to get to closing
Hello, Everyone
I am looking for advice on a creative strategy here is my dilemma I am currently wholesaling a multi-family unit that has a few liens on it my buyer is ready to close early on the property but the liens and code violations must be brought into compliance in order to close.
However I find out the seller has no money readily available to bring the violations and liens back into compliance and they are asking to use the funds from the transaction to cover the liens and violations even going as far as asking to have the buyers funds be placed in escrow to pay the violations and liens before being distributed to the seller.
Has anyone had an experience like this before or can give some insight on how the liens and violations be brought up to compliance any advice would help
Thanks,