Red Flag on Purchase?

[Victor Clarke]

Hi All,

I'm looking into purchasing a distressed property (2/1) in Beacon Hill from a turnkey house flipping company.  I've negotiated the price down to 100k for the property itself, not including renovations, but when I started doing research on the property it turns out there is a vendor's lien showing it was purchased by this company for 112.5k plus points.  Should I be concerned?  Plan is to have a structural engineer come out and look at the place prior to closing.

Thanks,

Victor