Homeowners with Liens...

[Charles Willie Harris]

What's the best way to wholesale and get a property under contract with a seller that has liens on the house they're in and has concerns about selling their current house before they've moved into a new house?

I've been told not to worry to much about it and to just get the contract signed and have the title/real estate attorney figure that all out.  I took the conservative approach and told the seller that I'd look into it and get back to them before we got the contract signed.

Any suggestions?

[Wayne Brooks]

They get paid off at closing, just like a mtg.

[Bobbie Mixon]

Reduce your offer the total amount of the liens, then get the property under contract. Inform your buyer before passing on the cost. This will solve all the concerns. The title company will ensure the liens are paid at closing. Your buyer will end up with the investment property. Your seller will end up with some money in their pocket. And you will end up with some money in your pocket.

Or you may want to get it under contract and ask your buyer to pay for or assume the liens. In that case the liens will be added to the purchase price.

Good luck with it.