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Updated almost 4 years ago on . Most recent reply

User Stats

19
Posts
5
Votes
Marcus Robert
  • Investor
  • Worcester, MA
5
Votes |
19
Posts

Grant liens, should I buy the buildings??

Marcus Robert
  • Investor
  • Worcester, MA
Posted

Greetings:  I’ve been presented with a 32 unit deal spread across 9 buildings. However, three of the buildings have grant liens that expire at different times up u til 2029. I am asking the sellers to give me something in writing from the town that specifies that the liens will transfer and they are being cryptic which is somewhat of a red flag. They are telling me that the town says that the “liens will transfer”. However, if I wanted to sell a building (let’s say for example sake) in two years, I would have to pay the liens or try and have them discharged. I was hoping for some thoughts here, mostly if I should be concerned or what I should be concerned about. The numbers are crazy good and I already have property in the area. Thoughts?

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