Please HELP!

I have a contract on a doublewide with river access. Here are the details:

ARV $52,000
Price $28,000
Repairs $1500
0 mortgage balance

Owner financing, $3,000 down, $400/mo., 0% interest.

The owner failed to tell me that he owes $2000 in back taxes until the day after we signed the papers. I do not have the extra money. Is there a way to borrow money on the deed to make this work?

Can someone please respond?

I really need some advice for this. I need to get back to the seller tomorrow.

If your getting the deed then of course you can borrow against it, provided you have a willing lender.

If the owner is financing make him take the difference off the down. Then you can offer to pay out the rest.

Title unlikely to transfer w/o tax pmt

I’m thinking your best move here is to just tell S no-thanks" and keep on a-lookin’.

No state would allow title to be transferred w/o proof of all taxes being paid in full.

S could be in trouble legally

With the emphasis these days on buyer protection and full disclosure, I’m thinking your state atty general’s office would be most interested in prosecuting your S if he doesn’t quickly refund what you’ve paid.

S is guilty of fraud if he didn’t openly disclose taxes or other liens against the home before he took your money.

Youre putting $3,000 down…have a title company pay the back taxes out of that money. Seems pretty standard unless there is something Im missing.