Can you sell a house with a lien on it in Amarillo

Selling a home can be quite challenging even without a lien on it to worry about. Most homeowners are not new to having liens on their homes but some types of liens don’t pose much of a problem as others.

What is a lien?

A lien is a legal charge on your home or property by an individual to whom you’re indebted. Here’s a scenario; a builder has the right to place a lien on a property if the property owner doesn’t complete payment for the work that has been done on the home. There are three kinds of liens, they include:

 Mechanical – placed by a builder or other trade for work done on or to your property

Tax – placed by the IRS or state for taxes owed

Judgment – placed by the court for a debtor who is owed money

Liens can be placed on different assets and are mostly used in collateralized debt arrangements.

Can you sell a house with a lien on it?

Yes, you can sell your house with a lien or judgment on it. For instance, if you have a mortgage, you’ll be able to use your profit from the sale to pay off the lien on your house.

There’s only a problem when it’s an involuntary lien. Although it’s possible to sell your home with a lien, it can make the process challenging because if you can’t pay off the lien on your own, a buyer would have to take on the debt. This doesn’t happen often but it happens with some types of sales such as homes sold through foreclosure auctions.

How to Resolve a Lien

If you discover a lien on your property, don’t fret. Instead, check to see if it has been paid because sometimes the debt may be cleared but the lien remains on the property. The lien-holder must request to remove and sometimes they may not have removed it. In this case, you can ask the lien-holder to remove the lien from your property.

If you’ve not cleared the debt attached to your lien, you can clear the debt and ask the lien holder to remove it. This may take a while before it reflects on the records depending on how fast the lien holder processes your payment and does what’s necessary.

How to Sell with a Lien

You may be in a situation where you’re not able to pay off the lien on your property. This is not such a bad situation because it can be resolved. You can sell your property even with a lien as long as the buyer doesn’t mind paying off the lien at closing.

Many buyers don’t subscribe to the idea of buying a house or property with a lien on it but you can sell your house to cash house buyers and they won’t mind at all. 

If you’re looking for the best cash home buyers in Armillo, you can speak to Sutter Home Properties. 

Not only do we guide you on selling your home with a lien, but we also help sell my house fast in Amarillo. Contact us today for more inquiries.

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