Are you trying to sell a house with liens in cottage grove? Did a process of a title search reveal existing liens on your home? Having a lien can certainly clog up the gears on the sale of your property. A lien is a legal notice of an unpaid debt that could be because of work on the home or other places. For example, suppose you checked and believe that the claim details are incorrect or that the creditor who says you owe them money filed the lien on your property in error. In that case, an attorney can assist you in researching the history and helping you negotiate for final payment if the debt is valid, or get it cleared up if not valid.
Liens also have different priority levels against the debt owed, and when the property you own in Minnesota sells, the order of the highest priority of lien determines the order of payment. While not always applicable, the date filed can determine repayment priority. Understanding which type of lien is on the property can make handling the lien a bit less overwhelming. Read on to explore liens and how to sell a house with liens in cottage grove.
There are two types of consensual or voluntary liens. The lender can take possession of the property with either one of these liens, known as foreclosure, and ends in a sheriff’s auction in Washington county to sell a house with these types of liens in cottage grove. The first is a purchase-money security interest lien, such as a mortgage wherein the asset used to purchase a home is the subject of the loan. The other type of consensual lien is the non-purchase-money security interest, such as a second mortgage, wherein the debtor utilizes the property as security for a cash loan. Either one of these, if you are not able to make payments, will force a lien onto the property, and it will not be relisted until it is satisfied. Often this satisfaction only happens at the point of sale of the property or when a homeowner uses their credit to purchase any other large item.
Tax related lien. Enacted by a law or statute, statutory liens are non-consensual or involuntary and are typically tax-related on some level, giving the creditor secured interest on a property. The tax creditor may pursue the secured interest and have the property sold. Liens that result from court proceedings from a lawsuit from an individual or company filing a claim are known as judgment liens, these often are final and have hard standing limits of what they can do. Ultimately, if the borrower fails to fulfill the loan terms, this type of lien allows the creditor to take the property’s title and sell a house with liens in Minnesota .
These same creditors who seek repayment file the lien against a property and receive a payment when the property sells or, in some cases, a creditor can and will take the property and sell a house with liens in cottage grove to recover the debt. If you cannot repay the debt, you may find you’d be better positioned financially in the future by taking steps now before anyone else is involved in a way that is hard to reverse once it starts.
Pay Off Your Liens
You could sell a house with liens in cottage grove on your terms before further action by the creditor and thereby arrange to pay off or resolve the debt when you want to. Because existing liens can complicate the process, it’s beneficial to work with a professional who has done this many times and has experience in these types of listing. Don’t just go with a person or company who says they can do it but find someone like the professional real estate investors at Minnesota Cash Home Buyers who understands all the steps. When you pay off the debt, you need to request a release-of-lien form from the lender, a local attorney, or your local government. An excellent, knowledgeable title company can help with this process. This form will need to be notarized and filed with the Washington county recorder. You should be aware there may be filing fees associated with the process, which makes the release of the lien public information. If you’re paying off a federal tax lien, when paid in full, the IRS will provide you with the release of the notice, which you will forward to the county to remove the lien. It can be complicated if you don’t know how to sell your house in cottage grove with a lien on it, but with help, it will be a breeze.
Sell Directly to Minnesota Cash Home Buyers
If you find yourself short on money, time, or the patience necessary to deal with the hassles of listing with an agent and doing all the showings, call Minnesota Cash Home Buyers instead – we can help. The professional real estate investors at Minnesota Cash Home Buyers have helped other cottage grove homeowners just like you overcome the pain and uncertainty that liens can throw at you; we’re happy to answer any and all questions you have about a direct sale and help ease your mind of any concerns along the way. A direct sale to Minnesota Cash Home Buyers is a quick process, and you will understand what is happening at all times. We are open to all questions you may have; your closing can be at your schedule from a week or two out to as much as a few months if it’s needed on your end so you can move. The professional investors at Minnesota Cash Home Buyers don’t charge commissions or fees, and there are no hidden fees in our specific contracts; you won’t even pay closing costs. At Minnesota Cash Home Buyers, we will lay out the numbers side by side so you will know what the property would sell for through listing (we can do that for you as well) and all of the costs you would face by selling on your own. Then, we will detail our offer, allowing you to understand the numbers for yourself to see the offer is fair. The pros at Minnesota Cash Home Buyers are your neighbors who live and work here in cottage grove; therefore, we take every step to ensure you feel good about the deal from the first time we speak until long after closing. We want to be your spot to sell your Cottage Grove house fast.
Save time, save money and make the process easy on yourself by working with Minnesota Cash Home Buyers to sell a house with liens in cottage grove and walk away from the closing with cash in hand. Contact [company] at (612) 444-5088.