Is It Possible To Sell Your House With A Lien On It?

On reading this topic, the first question that will come to mind will be is what a lien is. To be precise, this is just a public filed property document held in the county department. Liens are majorly used by creditors when collecting their dues. Sometimes you may be thinking about moving, but you might worry that it will be hard to sell your home if it has lien on it. However, the possibility of selling your house still exists.

How To Sell A House With Lien On It

The good news is that none of the title problems you will experience can go unsolved. You will only need to be creative and experienced. You can still sell your house with lien on it even if your debt is greater than the home value. Nevertheless, it takes time.

First, get a third party that will negotiate with the lien holder for partial or even full release. Small creditors will reason that it is better to have something than nothing at all. As for you, ensure you are not giving these lenders more information than is needed. To be on the safe side, you should have a sound knowledge of your rights.

It is good to point out that it is not mandatory for you to pay all your debts before closing. By embracing the traditional method, the debts are to get deducted after a successful sale. Thus it is the seller who would pay the debts at closing. For the whole process to turn out a big success, it is worth the do the following:
Do an evaluation on liens – You need to know that every lien has its unique procedures and most of them can be tackled with no charges at all. Therefore, get to understand the category of liens and judgments on the property that you intend to take to the market.

Get a qualified potential buyer – Most home buyers avoid involving themselves with a property that has lien on it. To them, lien and judgments are a menace. As a matter of fact, they corner you to pay dues in full. If by bad luck you get a creditor who does not empathize with you, they tend to pull off. You should, therefore, be wise to get a buyer who fully understands your house situation and is in a position to negotiate the process of liens release and settlement.

Give experts leeway to work on your behalf – It is wise of you to take the advice offered by your title or an investor company. These companies give good advice on what to tell your creditors and to what extent you can share information.

If you decide that you want to sell your house, to a good extent, this is possible. However, at some point you might be overwhelmed by all the technicalities involved. It is therefore essential to work with experts who have vast knowledge on this matter. The company helps in negotiations with whichever creditor body including individual creditors, IRS, a tax authority or a credit card company. Mark you; we have experience on solutions to various types of liens, be it credit from an individual, Credit Card Company or even a tax authority.

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