Hi Ashley,Most standard agreements of sale will specify that the property (deed) shall be delivered free of liens.In every deal I have done it is understood and in writing that the seller will pay off any outstanding debts including mortgages, tax liens, water & gas bills, old judgments, etc.These payoffs are deducted from their proceeds at settlement, so they do not need to be paid off ahead of the closing.

What are the typical problems and issues that may arrive if by so chance that through a quick title search that there is an outstanding balance?

Beginning in calendar year 2016, on or after June 1 in a county with a population of more than three million persons if no prior year certificates of purchase are outstanding, if a person who holds a certificate of purchase for tax year 2014 and afterwards desires to pay subsequent taxes, the county treasurer shall issue a separate certificate of purchase by assignment for each subsequent year's taxes, accrued interest and related fees due on the property.

The attitude, comraderie and friendship was outstanding.

However, I'm not a fan of financing a depreciating asset.Case 1: Old Car Cash PurchasePros: No outstanding debt to go against my Debt to Income Ratio.

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What did fleets of trucks have to do with what you were doing?

@Dion,  OUTSTANDING contribution!! 

Include a master rent roll that details rents collected and outstanding balances for every unit.A monthly review of aged accounts receivable reports will help you spot potential patterns early, allowing you to modify your leasing strategies before things get totally out of control. 3) An Uptick in Resident Complaints Residents deserve to have a consistent and efficient way to report maintenance issues.

Assume a sale price in year Y, and those principal payments will be factored into your return on investment calculation because when you sell the asset you will be paying down a mortgage balance of (Original Amount - Principal Payments + Outstanding Interest).