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Updated over 6 years ago,

User Stats

22
Posts
5
Votes
TamaraFaye Smith
  • Rental Property Investor
5
Votes |
22
Posts

Property for sale with a second mortgage taken out

TamaraFaye Smith
  • Rental Property Investor
Posted
So I am a real estate investor just starting out. I have a potential property, the seller is motivated and verified there aren’t any back taxes, and the home is owned by him, no banks involved. But he lets me know there is a 2nd mortgage taken out on the home. My question is when I find the buyer to purchase am I asking for the sellers original asking price plus the 2nd mortgage or just one or the other?

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