What Is a Property Lien?First, let’s start by understanding what a property lien truly is. Why is it hanging over your house like a dark cloud? Property liens are essentially legal rights that a holder has. If the debts aren’t paid on the asset, then they can exercise those rights and obtain sole control of the home. One of the most well-known scenarios for this is a repossession, in which the mortgage lender seizes (repossesses) the property after not receiving consistent payments toward the mortgage amount. This is a common occurrence with car repossessions as well. The lien itself is always filed within the county office, then distributed to the property owner urging that the repossession take place. There are two common forms of property liens: voluntary and involuntary. See below for a description of both.
- Voluntary Liens– Liens that have been agreed to by both parties, the mortgage lender and the mortgage debtor (you). When signing up for the mortgage, you accepted that the lender holds a lien in case your home was foreclosed upon.
- Involuntary Liens– Liens that are enforced by law on a property as a result of failed payments. Typically, these occur when the debtor doesn’t live up to their side of the agreement on payments, taxes, or necessary renovations. Involuntary liens don’t require that the creditor give notice to the debtor. Even still, it can leave a daunting hole in your title.
How to Sell a Home With a Property LienLet’s get down to brass tacks, here. How can you possibly sell a property that has a property lien on it? What are you to do if there are ongoing lien disputes on a home that you’re trying to sell? Is it still possible to sell the house? The answer is yes, but finding an interested buyer the traditional way will be next to impossible. So how can you find someone to purchase it? Go to a cash home buyer for help. Here at Lisa Buys Austin Houses, we’ve purchased homes with property liens on them plenty of times before. We can help you get back on your feet in a hurry. See below for our 3-step process that can help you get the cash that you need fast.
1. Fill Out Our Form OnlineBefore we can make an offer on your property, we need a bit of information on your property and the situation. That said, we don’t require much information to get started. All we really need to get things in motion is:
- Your Full Name
- Your Email
- Your Phone Number
- Your Property Address