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Updated almost 13 years ago,

User Stats

607
Posts
163
Votes
Gary Parker
Pro Member
  • Real Estate Professional
  • Salt Lake City, UT
163
Votes |
607
Posts

Medical Liens

Gary Parker
Pro Member
  • Real Estate Professional
  • Salt Lake City, UT
Posted

Property has a $70K 1st and worth around $125K and will rent for $1200 or so. PITI $850. Little skinny but if I can get with little to no cash in the deal except for some repairs it may work. Owner passed and the son is willing to owner finance or lease opt the property to me. He wants $15K cash to help with expenses he has had which he will take some cash and finance the rest on a 2nd or work out in a lease opt. The issue is $30K in medical bills which the estate must stand good for. Even if he sold the property to me for $85K ($70K 1st + $15K to son for expenses) it seems the medical bill people could sue him for selling below market??? Has anyone had experience with a situation like this? I am not even sure if it is worth spending money on an attorney at this point. Oh, the medical liens have not been recorded against the property.

  • Gary Parker
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