Can you sell a home with a lien on it?

Can you sell a home with a lien on it?

Having to worry about liens when selling a home in Virginia is stressful enough. There are many types of liens on houses, but some of them are less problematic than others. The following information will help you get started.

What’s a lien?

A lien on your home is a claim on your property that can be secured by an individual or entity to which you owe money. Liens can attach to various assets, including homes, and are used frequently in collateralized debt arrangements.

Any party with a lien on the property may be entitled to a share of the sale proceeds if you default on your mortgage.

Different types of liens on houses.

  • Mortgage: Whenever a bank or mortgage lender issues a mortgage for a property, a lien is placed on that property. This is a voluntary lien.
  • Tax lien: Your home can be seized by the government if you fail to pay taxes (including local property taxes).
  • General judgment lien: If you fail to pay your creditors, they may file a judgment lien in court.
  • Contractor’s lien: A contractor, builder or construction company can file a lien if you do not pay them for the work they did.

If you have a lien on your house and you still want to sell your house, you’ll need to solve the lien problem first — although, in some cases, the buyer might agree to help & House Buyer of Virginia is the best choice you can have your problems to be solve. With HBV you can get each possible way to get free from your house with liens.

The seller’s options include paying the lien in full, bonding the lien, taking legal action to have the lien dismissed or coming to an agreement with the creditor, according to HBV.

“With correct guidance from HBV, who is ideally with knowledge of real estate and residential liens, a owner can still get their property sold. If you are in Virginia and want to sell your House Quickly & Hassle-Free, We can help you.

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