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Updated over 10 years ago on . Most recent reply

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52
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Jessica Yau
  • San Francisco, CA
12
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52
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Messy prelim title report

Jessica Yau
  • San Francisco, CA
Posted

I'm looking at a multi-family deal in Oakland and have been reading through the disclosure docs. First time I have ever come across such a messy prelim title report. The sellers haven't been paying their City of Oakland business tax or garbage service for years! Also seems like they have taken out multiple loans on the property with different lenders. 

How do I proceed? What questions need to be asked? Is this a deal breaker?

Most Popular Reply

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23,418
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
13,508
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23,418
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

Doesn't really matter if there is 1 lien, or 20 liens.  What matters is if they can all be paid out of the sales proceeds.  Obviously you/the title co. needs to get an accurate total pay off.

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