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Buying or Selling a Home/Previous owners unpaid bills

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Expert: - 9/19/2008


Question
My wife and I recently purchased a home in upstate NY in late March. The home was in the initial stages of foreclose, which the agents did not know about when we made our first offer in January 2008. A month later, the owners were given 90 days to refinance or sell. We went through the buying process as the agents and lawyers avoided a short sale and we were able to purchase outright. Now we have received a water bill from last year that the previous owner owes. We have been told by our lawyer who represented us during buying that we should settle the bill and try to collect later. We know we will never see the money from the previous own. However, does that not void the sale? This should have been disclosed to either the seller's agent or the attorney representing the seller. What type of recourse and options do we have?

Answer
I can only answer as a Realtor, not as a lawyer. My opinion on this question is; no it doesn't void the sale.  However, you should check with your attorney or maybe a different attorney who is more familiar with Real Estate law. You should not be responsible for any debts incurred by the previous owner. Check out what type of deed you have on your property. A warranteed or quit claim deed means you have full ownership with no leins against the property.
My advice again is to talk to a Real Estate attorney.
Good Luck,
Laurie

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Laurie Stephenson

Expertise

I can answer questions about Residential Real Estate in Upstate NY's Capital District area, from Albany to Lake George. I specialize in Saratoga Springs and the surrounding towns. I am a Buyers and Sellers Agent. Check out my website at www.lauriestephenson.com

Experience

Residential Buyers and Sellers Agent

Organizations
Greater Capital Association of Realtors, (GCAR) New York State Association of Realtors,(NYSAR) National Association of Realtors, (NAR)

Education/Credentials
Associate Broker

Awards and Honors
Million Dollar Club

Past/Present Clients
My goal is to make the process of buying, selling, or owning a home efficient, enjoyable and rewarding for you. See what my clients have said about my real estate services... *Comments: Laurie was enthusiastic and supportive through the whole process. I would highly recommend her! JAC - Stillwater *Comments: My wife and I recently purchased our home with Laurie Stephenson. This purchase was difficult because we were buying a home from 3000 miles away. Laurie worked with us for several months prior to the purchase. Then, when my wife and I arrived to look at homes, she helped us get right down to business. Laurie's knowledge and expertise pertaining to the Saratoga community allowed my wife and I to find a house that was honestly, the exact home we were looking for. Laurie took our situation, our hopes and dreams, and helped us put them into perspective and find the home that was just right for our family. Laurie's dedication to our family was invaluable throughout the entire process and continues on past the closing of our home. My family and I appreciate everything that Laurie has done for us. We got the luck of the draw with Laurie, and couldn't have asked for a better real estate agent and friend. Sincerely, Randal& Shanna Thorpe *Comments: One of the most refreshing qualities about Laurie is she goes to great lengths before even showing a house to make sure her clients are qualified and she understands exactly what there looking for. Her unique ability to understand people and listen is why she's so successful. She puts her client's best interest first and assures they can buy and afford the house for years to come. As a Mortgage Broker responsible to the banks and the clients we have a perfect record and many happy homeowners. Thank you Laurie!!! Jim Teele

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