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To: Chispas who wrote (65502)	5/13/2007 4:29:38 PM
From: John Carragher	Respond to of 116555

i purchased a house where the seller had several liens against the title. unbeknown to me until settlement, the seller was late by half an hour to settlement. I didn't use a lawyer just a realestate agent and the local bank. The bank manager told me the seller was in the other bank around the corner paying off liens and will be over once all liens are cleared and title is clear. It should be only a few more minutes. several minutes later i closed on the house , got clear title to house. i expect this may happen often if a seller doesn't have the cash to pay off liens until money in his equity of house is freed up. Most likely the other bank was were his business was usually done and they offered to handle his transactions to clear his title and may have charged a small fee for the service in the form of a bridge loan or agreement between the bank where settlement was taking place that money paid for liens would never get into his hands rather end up on settlement sheet as a payable and go against any balance he would have coming to him.