No I do not.

You can't lie by commission, but you are not obligated to tell what you find out - in this case, it is not a lie by omission. In my opinion.

We once bought a house that another person turned down because their inspector said the wiring was unsafe. We asked that person if we could buy the inspection report, he said yes and we did, and when we checked on the wiring found a pile of wire in the attic connected to nothing - it was left over from a job.

"The family gave up trying to find out how much it is".

Answer - No.

Absolutely NOT.

You did the work ... you win the prize.

I would think no because of what RB stated.

"Sounds like info is not found out until sale..."

I have read the two other associated post. Take the emotion out of the deal. This is a business deal probably no different than other deals you made because you did the home work and established what you think is a market price for as is with a lot of possible debts against the estate.

If you don't buy it some one else will or the children will let it rot down.

I purchased a property with a different type of lien on it. When I contacted the "agency" that regulates and administers liens on a property that is being foreclosed on abandoned by the owner and the "loan" holder had gotten the right to "Sell, auctions or dispose of" I have my attorney do the following:

Give notice that "we" can't find a lien amount recorded anywhere. And the court that in charge of the case has a limit of $xx dollars. ( around $10K).

Then after giving notice and hiring a "title" company to do a title search. I have an opinion that someone didn't do their job with regards to the paperwork.

Just buy the place ken, you have it all set up already.

The kids will be happy for the 'free' money. You get a place that will rent for a much larger amount that it costs you. The lien falls off in a few years then you can decide if you want to hold it or sell it.

But you didn't cause the dilemma, you are just helping to solve it.

No harm, no foul.

I suppose you could do that......or you could ask them -

What were you asking for the place? $100,000

Does the place have a swimming pool? NO

Ohhhh Okay.

Does the place have central air? NO

Ohhh Okay.

Does this have two full bathrooms or only 1.5 baths? 1.5 Baths

Oh Only 1.5 Baths.

Well has the HVAC or power panel been updated during the past five years? NOPE.

Ohhhhhh Okay so the place needs updating.

What were you wanting for the place again? Maybe $xx,XXX

Okay what would you be willing to settle for the place?

You do understand that their is still a Medicare lien on the place?

Can you do any better than that so I can convince my partner to get on board - I want to help you.

Ground down the expectations so that reality settles in. As for that partner - well lots of people think I crazy anyway.

Questions of morality and ethics are often linked, but in this case I think we can separate the two.

Morality means following a code for one's life.

Ethics is whatever "society" determines is "right."

Morally I don't see any conundrums. Everyone is a legal adult, not acting under duress, and acting in good faith. One of the ways we profit from real estate is we see uses that others don't or won't or can't. This is not any different that the foreclosure I bought from a guy who had inherited his Dad's house but didn't pay the mortgage. He needed and ASAP bail out to avoid losing EVERYTHING. I bought the house for $65K, cleaned it up for $5K, and sold it for $105K about a month later. $40K profit. He was upset and said I cheated him. Nope... he could have paid the mortgage. He could have kept the house clean. He could have sold it long ago.

But he didn't. So I did. The fact that he got $65K for a house he inherited was sufficient for him at the time we inked the deal. He just got upset when he saw the "easy" money I made. He could've done the same thing, but.... didn't.

It's the same with people who know they can lose weight, but refuse to change their diet. It's simple to do, but requires willpower, and no one can force you to do it.

Anyway, hope you get that house. Zero guilt. Some folks let those places fall apart and the roofs cave in before the county has to come in and bulldoze it at taxpayer expense. You're preventing that from happening. Good work!