Need help with 4 plex going into receivership

[Bob Malecki]

I acquired a 2nd position note on a 4 plex located in WA state, the borrower does not live at the property. Its scheduled to be sold this November and I was expecting to get a decent payoff on my note, but the preliminary closing statement shows expenses/payoffs that put the closing total about $180K over the sale price, comprised of prop taxes, broker commissions, unpaid utilities. The owner/borrower/seller has told me that he is going to put the property into receivership, and I'm looking to determine my risk on this, not being experienced with receiverships. 

If anyone has some experience/knowledge on what  may be in store, it is appreciated. My concern is that being a junior lien, I may get wiped out, although there is equity above the senior by approx. 20% of the current selling price/value (before any closing costs, taxes, etc). Any thought on this is appreciated. @Dion DePaoli any perspective you can contribute is appreciated. 

Bob