Property liens create a bit of a conundrum — you want to liquidate the house, but you owe money. The good news is that liens do not need to prevent a home sale. The unpaid debt just needs to be taken care of before or during the sales process.
What Is a Lien?
Liens are like debts attached to a property. In certain situations where the homeowner owes somebody money, that person can place a lien on the property. Until the debt gets paid, the lien means that the creditor essentially owns a fraction of the house.
Mortgages are the most common type of lien. Other types of liens include:
- Tax liens — Property tax, IRS debt, etc.
- Contractor debts — Unpaid contractors and subcontractors
- Judgment liens — You owe someone money but cannot pay, so a judge places a lien on your property to settle the debt
- Family law — Child support or alimony debt, spouse’s liens awarded in divorce settlements
How Do I Check for Liens?
If your house has a lien, the county records will show it. Check your county’s website for an online lookup or contact the office directly to research the property records.
Can You Sell a House with a Lien on It?
Yes — the short answer is that you can sell a house with a lien on it. The lien holder just needs to get paid before or during closing.
In that sense, liens do not affect a home sale very differently than a necessary repair would. The lien amount simply affects the selling price.
Can’t find a way to pay the lien before selling? That’s okay! If you sell your house to us, we’ll take care of the paperwork and make an offer that reflects the cash value of the home in its current condition, with any lien amounts figured into the price.
How Liens Are Handled in the Home Selling Process
When we make cash offers for houses, we assess the market value and take into account liens, repairs, and renovations. You get an upfront cash offer and we handle everything else.
In the traditional home selling process, the seller would first need to be advised of any liens. Money goes into escrow and an attorney moves the money around. Tax debts must be paid first, then other kinds of liens. In most cases, the lien must be officially removed before the sale can get finalized.
Sell Your Home With a Lien in Orlando, FL
If you cannot afford to pay off liens and need to sell the home quickly, our cash offer system can simplify and speed up the process. You get paid, while we handle the liens and take it from there.
We help homeowners in the Orlando area who need to sell a home but cannot afford the costs of removing liens, making repairs, and taking care of real estate agent fees. Contact us today for a fair cash offer on our home, even if the property has a lien!