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Updated almost 13 years ago,
Would you be concerned with this Lien?
I am considering purchasing a property that has a utility lien on the property, "an easement" that states the property owner is required to pay for sewage treatment and matainence. It appears as if the property is occupied (so assume the sewage system is working), but would you consider this a "normal" risk to take in foreclosure buying? Also the property is a two unit multi family in case that matters.
As far as economics, tax deed bidding will start at 12k, the property is assessed for 54k and the inferior mortgage lien is worth 248k. So I am thinking the bank may not let this property go unless there is something seriously wrong with the sewage system or some other unknown problem. Thoughts?
Thanks.