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Found a house and land with two credit card leans
1) I have a friend that has a house and land that her and all of her sisters-in-laws and brothers-in-laws have been trying to sale for years. They had it on the market for a year. Then come to find out that one of the brothers-in-law(which title is in his name) has had a child support lean on it(which is now dropped from finding a job) but there is now two credit card leans on it. One of the sister-in-laws is only paying taxes on it.
Is there a way to help them get this place sold, or are they sitting ducks till credit card loans are paid off?
2) Same friend parents have a rent house they are now wanting to sale. They are doing all the repairs themselves. The friend told me they are going off a house down the block from this house sold 10 years ago for $135,000.00, which that is the price they are asking for now. Is there someplace to compare the houses to "TODAYS" prices, not years ago?
I am a newbie(trying to learn on my own) to all of this investing, wholesaling, and flipping. So I greatly appreciate any advice given.
Denise Simmons, first of all it's "lien" not "lean".
Secondly, welcome to Bigger Pockets! (Although I should have welcomed you first and corrected you second.)
Third, yes a sale from 10 years ago is not a very good comp. You can use sites like Zillow or Trulia or even your local government website (if they have one) to show recent sales in the area. If you have MLS access you can look at data that way too.
How much are the liens? Liens can be paid when the house is sold and don't normally prevent a sale. But if they total more than the house is worth, it may be possible to get the creditor to accept less than what is owed.