Selling your home can be difficult, but selling a home with liens attached can seem impossible. Liens are legal agreements between two parties in which one party must pay back the other, and when it comes to the sale of a home, those liens must be cleared up before closing can take place. Fortunately, it is still possible to sell your Denver home even with liens attached; all you need is knowledge and patience.
Our experts have compiled valuable information and best practices to ensure a successful sale and stress-free transaction.
Read on so you can find out how to sell your Denver home even with liens attached, quickly and legally.
Understanding Liens on a House
A lien is essentially a legal claim that can be filed against a house or other forms of real estate for unpaid debts. This can be done by contractors, the government, or other entities if the debt isn’t resolved.
Liens can significantly impact the sale of a property, and it’s essential to take the necessary steps to resolve any liens before listing your home for sale.
Types of Liens
When it comes to selling a property with a lien attached, it’s essential to distinguish between voluntary and involuntary liens.
- Voluntary Liens – A voluntary lien is a lien that the homeowner willingly agrees to take on. Examples include a mortgage or a home equity loan.
- Involuntary Liens – These liens are placed on the property without consent from the homeowner.
Selling a House with a Lien
Selling a house with a lien can be challenging and complicated, but it can still be done fast with no legal disputes attached. Follow these steps below:
Step 1: Identify the Liens on Your Property
You can do this by ordering a title search from a title company or a real estate attorney.
When researching the liens and judgments filed against your property, it’s important to do a comprehensive search.
When looking to sell a house with a lien, it’s important to get an accurate picture of any liens and judgments which may have been registered against the property. For this reason, we recommend compiling a list of all the liens attached to the property before moving forward with a sale. This will provide you with a comprehensive overview so that the necessary steps can be taken to clear them before putting your Denver home up for sale.
Step 2: Determine the Amount of the Lien
The lienholder can provide you with this information, or you can get it from the title search report.
Step 3: Negotiate with the Lienholder
Negotiations can be done solo or with the help of a real estate attorney to tie up any legal loose ends.
Step 4: Pay Off the Lien
You will receive a lien release certificate after this step. This must be submitted to the county recorder’s office in order to clear the lien from your title.
When selling a house with a lien, you should be aware of the process and steps needed to complete the sale. It is important to verify any liens or judgments on the title, establish each lien amount, contact and negotiate with the lienholder, and pay off the lien in full. With this approach, you can easily sell your home in Denver while avoiding any potential legal complications.
If you’re looking to sell your home fast and hassle-free, Blue Halo Homes is here for you. We buy houses in Denver with our own money, so we can make sure you get the cash for your property in as little as 14 days – with no commissions or closing costs applied!
We guarantee a fair price, regardless of condition, and make sure the entire process is smooth and stress-free. Visit our website to get started today.