We would like to purchase a parcel of land from neighbors (~5 acres) and were told that it would be more than twice what the land was worth because they have a 1st and 2nd mortgage on their entire property. Is this correct or can we offer a fair price to be applied to their debts upon sale?
Asked on 6/27/10, 3:56 pm
1 Answer from Attorneys
You can offer whatever you want. However, unless the lienholders release their lien, no closing will take place
Answered on 6/30/10, 9:10 pm
