Land Selling Case Study: How We Purchased a Land with Liens!
We were contacted through our website, and the owner submitted an inquiry for a chat. It was vacant land in Florida City, FL. The owner wanted to sell because he needed cash from his land. We made the process easy, we gave him a quote on how much we can offer for the property. The seller countered us with a price that was convenient for them. We agreed and submitted a purchase contract.
There were a few things with the land. The obvious was that it had shed and that the owner was going to remove at closing, and once lien search was pulled it had $28,000 worth in liens!
We then realized that the city was able to mitigate the liens once the sheds were removed.
Key Points to Remember.
If you own land that you may think is free and clear, once lien search is performed. This will give us a general idea as to what the best outcome will be. Even if the land has liens, we may still be able to purchase AS IS with the claims!
The whole buying process took under 30 days to close. Meaning the seller had cash for his land in 30 days.