You are interning at a real estate office and your supervisor tells you she is considering taking a new listing from Mr. Deadbeat.  She tells you to pull a Preliminary Title Report on his property which you do.  The report shows several liens - a tax lien of $11,240 for unpaid property taxes in 2021 and 2022, a mechanic's lien of $40,000 for new windows, and a mortgage lien of $520,000.  The house has appraised at $650,000 although the market is declining. 

1.  For each of the liens list whether they are voluntary or involuntary.

2.  Which lien(s) is/are not a concern?  Why?

3.  Which lien(s) is/are a concern?  Why?

Answer rating: 100% (QA)

1 For each of the liens here is the classification of whether they are voluntary or involuntary Tax lien of 11240 for unpaid property taxes in 2021 an... View the full answer