A possible $ 48,000 hit on one hand versus a free call to clear the unknown on the other hand should be a no-brainer.

I work for a relatively unknown brokerage currently and I am in the top .5% of all realtors in my market and I am the leader in my local suburb I live in.

Unless you gave this unknown party the authority to bind you to a contract, the fact that they exercised the contract has no binding impact on you. 

There are plenty oof topics covered and the forums serve to be very useful when it pertains to an unknown area.

Biggest concern on buying heir's equity this early in the game, as Rick mentioned, is the unknown creditors.

resale's in area are 175K+ but with the unknowns ( no walkthrough, occupied, unknown closing date...)Additionally I found about 5K in additional HOA liens since it appears with the special deeds the new owner will assume all outstanding debt..I do have several properties in NY with some experience but this is a different game and appreciate any feedback.Many thanks, Peterd

I have gone to the tax & foreclosure auctions several times and there is quite a bit of risk involved with purchasing the unknown.

I hear from everyone that the very first one is the hardest and I think that with the unknown lingering combined with the lack of experience it absolutely is.

Theft, vandalism, inappropriate behavior, etc..Bad behavior is FAR more of an issue with Open Houses, when the Prospective Buyer's are unknown to the Agent.

I'd have no problem offering $135K for that property, stressing the risks and unknown costs of dealing with the seller's crappy tenants.