Experienced Landlord needs help in how to close this deal quick!!

[Rich Vogel]

Hi All, 

So this is my situation. I got an amazing deal on a 3 unit that can actually legally be turned into a 4 unit Purchase price 137k and it needs about 40k in work. Home run. We were two weeks away from closing and my title company tells me that there are 2 old mortgage liens on the house that the buyer knows nothing about. The house was passed down within the family.  One of the liens is 50k I am not sure how much the other one is. My title company thinks that they are old mortgages that never got closed properly.  The banks no longer exist and no big company that took over them knows anything about the lien. So he was going to get a lawyer to take the steps to get rid of these which will take 4-6months.  I just got a call that said he was diagnosed with cancer and doesn't know how long he will live.  We are planning on getting a commercial mortgage on the property. He is willing to work with us on a solution as long as he gets money to pay for doctor bills. Any help on how to get this property would be greatly appreciated. 

Thanks

Rich