Re-sale with possible Lien?

[goofydiz]

I recently put in an offer in on a re-sale which was accepted and passed ROFR. After spending much time here on the boards - I came across a link to the "Orange County Comptrollers Office". Upon searching the site with the sellers name I discovered that they had a lien put against thier DVC Property on May 24th. Does anyone know exactly how this is handled? If the lien is still in effect (which I'm not sure of) - upon closing will they put a stop to the sale? Or will they make the seller subtract what is owned form my payment? Or will this somehow be passed on to me?

 

[Dean]

I recently put in an offer in on a re-sale which was accepted and passed ROFR. After spending much time here on the boards - I came across a link to the "Orange County Comptrollers Office". Upon searching the site with the sellers name I discovered that they had a lien put against thier DVC Property on May 24th. Does anyone know exactly how this is handled? If the lien is still in effect (which I'm not sure of) - upon closing will they put a stop to the sale? Or will they make the seller subtract what is owned form my payment? Or will this somehow be passed on to me?

It should be cleared as part of the transfer. Just make sure the info is included. Interesting as there really are only two entities you'd expect to have access to put a lien on the DVC and these are DVC and he finance company. That's not to say it couldn't happen from anywhere but these would be the two most likely entities by far.

 

[JimC]

The title company will handle this. If the title cannot be cleared, you would be notified and I suspect have the right to withdraw from the contract and have your funds returned to you. Your sales agreement should cover this.