Agent

Liens discovered on FSBO deal could be trouble

What happens to title if sellers can't cover $14K in fees?

DEAR BOB: We are buying an out-of-state house. The closing is scheduled for about two weeks from now. It is a "for sale by owner," and the sellers aren't too knowledgeable about the sales process. We just received a document from the title company listing the recorded liens against the sellers. The list includes a lien from the state's Bureau of Child Support for more than $12,000 and deferred property taxes for about $2,000. None of these liens were previously disclosed to us. If the sellers are unable to pay these liens at or before the closing, what are our options? We don't want to be homeless when we arrive in our new city if something goes wrong with the closing. --Rebecca L. DEAR REBECCA: If the sellers will be receiving sufficient cash from the sale to pay off the child support and property tax liens, then they will be able to deliver marketable title to you. Purchase Bob Bruss reports online. I suggest you phone the firm that will be handling the closing settlem...

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