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Updated over 6 years ago,

User Stats

592
Posts
320
Votes
Lamont Marable
  • Real Estate Investor
  • Waldorf, MD
320
Votes |
592
Posts

Super Cheap Baltimore home but the contract says...

Lamont Marable
  • Real Estate Investor
  • Waldorf, MD
Posted

This:

"BUYER UNDERSTANDS AND ACKNOWLEDGES THAT THE PROPERTY MAY BE ENCUMBERED BY MECHANIC’S OR MATERIALMEN’S LIENS OR OTHER LIENS, JUDGMENTS OR ORDERS RESULTING FROM ALLEGED VIOLATIONS OF LOCAL ORDINANCES AND BUYER IS TAKING SUCH PROPERTY SUBJECT TO THOSE LIENS, WHICH MAY OR MAY NOT IMPACT BUYER’S ABILITY TO OCCUPY OR TRANSFER THE PROPERTY IN THE FUTURE."

This was an online auction purchase at a great price.  I got it under the reserve price.  Title insurance can't help me in this situation, can it?  How would you approach this situation?

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