Having a lien on your property means that you will not be able to sell your property until the lien is removed. A lien is placed on the property as a form of surety that you will pay your debt before making money on your property sale.
There are several reasons that you may end up with a lien. All of the reasons stem from some type of debt or another, ranging from personal debt to child support to court-ordered payments.
If you want to sell your property with a lien on it, you may be wondering how to remove a lien from your house. There are a few different ways that can happen.
Removing a Lien from Property
If you are unsure whether or not there is a lien on your property or you do not know the specifics of it, you should start by doing a title search. That will help you to find the information you are looking for. Do not assume that someone has or can put a lien on your property, make sure you check and know all the specifics beforehand.
Here are the ways that you can remove or get a lien removed from your property title:
- If it was obtained fraudulently, or you can prove that it has already been paid off, you can ask the courts to remove the lien.
- You may be able to negotiate with the holder of the lien and simply ask them to remove it.
- Sometimes, filing for bankruptcy will remove a lien from certain properties.
- If your particular state has a statute of limitations for liens, you can always wait for it to run out if that is applicable in your case.
- Satisfy your debt. Once you have paid the money that is owed to the creditor or taxation agency, you will be able to have the lien legally removed.
Can I Sell My House to Get Rid of a Lien?
Yes, you can sell your house or property to get rid of a lien as long as the sale satisfies the amount of the lien and will be paid before or at the time of purchase. For many people, this is the best option. It may be enough to satisfy the lien and leave you with extra capital to pay off other bills or put a down payment on a new home.
There are lots of ways to sell a home. First, you can go with the traditional method of putting it on the market. However, this will take some time, which may be an issue for people looking to close out the lien situation as soon as possible so they can move on. Additionally, private home buyers looking for a new home may need financing, which could also slow and complicate the process.
If you are lucky enough to know someone who will buy your home for cash at the market value, this is the best-case scenario; it’s just not the case for most home sellers. If you don’t have someone waiting in the wings, it is a good idea to call a professional home buyer like Handsome Homebuyer.
Sell Property to Remove a Lien
Sell your house and get rid of a lien now by working with a fantastic home buyer. Why deal with the hassles of having a lien against your property when you can readily rectify the situation instead.
Handsome Homebuyer has a straightforward, transparent, and painless process. They buy your home for cash right now and get rid of the lien on your house all at once. To ‘sell my house for cash‘, contact Handsome Homebuyer today!
Long Island Real Estate Statistics 2023-2022 Long Island’s median […]
A homeowner can sell their home at any price they […]
When you have a judgment against you, your credit takes […]