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Liens and Quit Deed

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A

andejes

Guest
Is it worth the trouble to pursue the purchase of a home with two city liens against it and which has been Quit Claimed to a family member and the original purchaser still has the mortgage on the home.
 


HomeGuru

Senior Member
<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by andejes:
Is it worth the trouble to pursue the purchase of a home with two city liens against it and which has been Quit Claimed to a family member and the original purchaser still has the mortgage on the home.<HR></BLOCKQUOTE>

It depends on the amounts of the liens and the mortgages compared to the value of the property (there should be substantial equity), if both the family member who has title and the mortgagor are both willing to sell, the condition of the property and wether you can qualify for financing to purchase the property and pay off the liens and mortgage.
 

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