All Forum Posts by: Jay Lee

thanks for the info, luckily we never paid the escrow. This is not an REO deal. Were paying cash to for the property and the seller owns it outright. The title company is the one that keeps telling us this fine is no big deal and they do deals like this all the time. That this fine is unenforceable and we should just trust the title company.

BP,

Have a question for investors.  Currently have a multi-unit property under contract.   The property came back with a few utilities bills that were liens.  But we also found out there is a code enforcement fine that has not turned into lien as of yet.  The fine is over 40k.   So the title company is telling us that this is a gap lien (never heard of that term).  But they said these liens were recorded after a foreclosure and they should have been wiped out.   I advised we have a certificate from the city saying these fines are applicable.  I advised them can't proceed until they have been taken care of.  Am I missing something, why would a title company tell me don't worry about the fine?  Other than to get paid...