You are interning at a real estate office and your supervisor tells you she is considering taking
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Question:
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?
Related Book For
Applied Statistics In Business And Economics
ISBN: 9780073521480
4th Edition
Authors: David Doane, Lori Seward
Posted Date: