The fairest way for all is a professional appraisal which will provide the value of the home as it presently stands, in its present condition. What you will do in the future has no bearing on "today's" value.... more
Judgments do attach to the property and not the owner so these judgments need to be cleared before you can close - otherwise the debts will be yours. You should speak to your attorney about getting in touch with the seller's attorney regarding these liens. If the bank is unaware of these liens, they may request/require you to come up with additional monies (hopefully not the full amount owed). You may also want to speak to your attorney as to whether the bank has agreed in writing to your offer - with short sales, you might be at the stage where you're in contract with the seller but the bank has not yet approved the sale. Good luck!
Certified Buyer Representative (CBR)
Senior Real Estate Specialist (SRES)
Century 21 Princeton Properties
Top 2% of Century 21 Agents Nationwide... more