There are many problems that come with selling your home. Dealing with realtors, scheduling open houses, negotiating costs, and a lot of other things you have to worry about when you decide you want to sell your home and move on to another home to live in. One possible problem many people have to worry about when selling their home is if you have any liens attached to your home.
Of course, one way to help eliminate some of the stress that comes with selling your home is to sell your home to us, for cash. We promise to cut out all the fuss and give you a fair price on your home, vacation home, or investment property and close out quickly, putting money in your pocket and helping you get the problem of selling your home out of your mind.
What Are Liens?
Well, if you were to default upon paying taxes, or have another debt that you cannot pay off, many courts or the government can place a lien on your assets, basically claiming a part of that property as belonging to whomever you owe the debt to. It can be for any amount, but it basically means when you sell or get rid of your biggest asset, you must pay off the lien with the profit you make.
This can be tricky if you are planning to make enough money off of selling your home or vehicle to pay for something else, especially when dealing with already owing banks for the loan to buy the asset, and all in all, it can make things a bit more complicated to deal with.
Can I Still Sell My House With A Lien Attached?
The answer to that is yes, but there is a catch. Unless the person who is buying your home somehow agrees to pay off the lien as well, you have to take care of it yourself. That means either paying it off yourself or using some of the profit from selling the house to pay it off. It is highly unlikely the person you are selling to will pay extra for the lien, but if you do somehow convince them to, that’s another option.
If you cannot afford to pay the lien even after selling the house, then you cannot sell the house. It is unfortunate, but the debt must be paid according to the law, and you have to pay it off before getting rid of the asset, such as the house.
So, in conclusion, you CAN sell a house with a lien attached, given that you take care of the lien before you get rid of the house entirely. This is also true in the case of selling homes for cash, but the negotiation period will be a lot smaller since we make sure to help you get the most out of your property and get moving with your plans for a brighter future! Contact us today to find out more about how we can buy your property for cash and close out quickly!