Lisa Mailhot | October 23, 2024
Buyers
A lien is essentially a legal claim against your property due to an unpaid debt. This debt allows the unpaid party to stake a claim to a portion of your property once it’s sold. The catch? You typically can’t sell or refinance your home until the lien is cleared.
Liens generally fall into three categories:
Even though you may think you know everything about your property, liens can surface unexpectedly, especially if there’s been contractor work involved or taxes left unpaid. Thankfully, it’s easy to check if your property has a lien.
Here’s how you can do it:
Discovering a lien doesn’t have to be the end of your home sale. If it’s already paid, all you need is proof of the lien release, which you can obtain from the appropriate party. If unpaid, you’ll need to resolve it before the sale goes through.
“Liens can become an issue for everyone involved, particularly if the total liens on a property add up to more than the contract price,”
says Klaus Gonche, a real estate expert. In cases like this, you may have to cover the difference out of pocket—or face buyers walking away.
Finding out about liens early in the home sale process is crucial to avoid unnecessary delays or lost deals. With simple tools at your disposal, you can easily search for any hidden liens and resolve them before they become major headaches. Ready to make your move stress-free? Let's connect and find the perfect home in Orange County today!
Discover how affordable key-coded locks are helping parents of children with autism, offering security and peace of mind. Learn how this simple solution can safeguard … Read more
Learn how to uncover property liens before they jeopardize your home sale. Liens can emerge unexpectedly, but with a few simple steps, you can stay ahead and protect y… Read more
Discover the ultimate Taylor Swift-inspired Airbnb in South Jersey, offering fans a dream escape with themed rooms, Swiftie decor, and unforgettable experiences. Perfe… Read more
Did a Secret Service agent cross ethical lines by representing his subordinates in real estate transactions? Explore the case of Alfonso Dyson, promotions, and potenti… Read more
Learn how down payment assistance programs can make homeownership more accessible for buyers and help you close more real estate deals. Discover eligibility criteria, … Read more
Learn why a home equity line of credit (HELOC) may be smarter than a home equity loan this November. With expected rate cuts, a HELOC offers flexibility, savings on re… Read more
Nearly 23% of first-time homebuyers are holding off on their home search until after the upcoming election, hoping the winner’s housing policies will work in their fav… Read more
Climate disasters expose severe risks for mobile home residents, with hurricanes Helene and Milton highlighting how vulnerable these homes are. Explore why mobile home… Read more
The American Real Estate Association is exploring a class action against the National Association of Realtors (NAR) over its Clear Cooperation Policy. Learn how this p… Read more
Let's find a time that suits you best to chat about your goals, show you how we work, and figure out how we can help you the most