This unit does not come with clean title. It is owned by the Condominium Association and was taken back as a Certificate of Title property. This property is one of many properties the association owns and may be sold individually or as a group. The Condo Association holds legal title to the property and has the authority to sell it. The Association is selling the property to pay off the back condo dues that are owed to the Association. However, the property still has mortgages in place that exceed the current purchase price. These mortgages will remain in place after closing and will be the responsibility of the new buyer. The current mortgages will NOT be satisfied at closing. The mortgages on the property may or may not be in a current foreclosure status and may foreclose at any time. This property is a cash only sale. The buyer will receive a quit claim deed at closing. It will be buyer's sole responsibility to negotiate, satisfy or deal with any existing mortgages after closing. You are advised to seek legal counsel prior to making an offer on the property. OPENING PRINCIPAL BALANCE IS $159,955 (MODIFIED TO $182,000)
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