Are property liens and tax problems holding you back from enjoying life to its fullest? You don’t have to feel stuck. Learn how to sell your house in Greenville, NC with liens or tax burdens in our latest post.
As a homeowner in Greenville, it can be a real challenge to sell your house with liens or tax problems. If you don’t have the cash to pay off the debt, you could be stuck with the property for much longer than you would like, driving you even further into debt. In this blog post, we will, hopefully, help you learn more about property liens as well as what you can do to sell your house no matter the situation you are facing.
What Is A Lien?
Per Investopedia, “A property lien is a legal claim on assets which allows the holder to obtain access to the property if debts are not paid. A property lien must be filed and approved by a county records office or state agency. It is then delivered to the property holder with specific terms notifying them that action has been taken to repossess a piece of property.”
In the case of real estate, your lender may place a lien on the property if you are not paying your mortgage in a timely manner. Homeowners can also be hit with a mechanic’s lien or a judgment lien when work is performed by these professionals on the property but they are never paid. If the homeowner isn’t able to pay off the lien, the issuing party has the ability to foreclose on the property. By placing a lien on the property, the creditor stops your ability to sell the house until the debt has been repaid in full.
Sell Directly To Narrow Path House Buyers
With a direct sale of your house to Narrow Path House Buyers, you will be able to leave the liens and tax problems behind. You will not have to come up with the money to pay off those liens or pay off those back taxes that are constantly on your mind and stressing you out. We will handle all of the debts, while quickly and efficiently buying your property for a fair price. By selling your house in Greenville with liens or tax problems to a reputable cash home buyer like Narrow Path House Buyers, all of the hassles and headaches could be over in only a matter of days!
Create A Repayment Plan
While paying off everything you owe all in one shot can feel overwhelming, many creditors will work with you to create a payment plan to help you pay off your debt. Before you feel too defeated, reach out to the creditor to try to work something out. Ultimately, their goal is simply to collect what they are owed. Making an effort to work with them will behoove your creditors to be more forgiving and willing to work with you. Once the liens are lifted from the property, you will be able to sell your house, but this can take a considerable amount of time depending on how much debt you are in. When working to pay off the debt, it could mean that you end up holding onto your house for longer than you wanted to. Once your debt is repaid, you will be able to move ahead with the sale of the property. However, holding on to the property to long while you pay off the debt comes with some risk.
Dispute The Lien
If a lien has been issued against your property that you disagree with, hope is not lost. You have the ability to dispute the lien so long as you have a strong rebuttal. You’ll need to have supporting documentation and a valid case against the creditor. To strengthen your case, you’ll want to start fighting the lien as soon as it is placed against your home, if not before. Ultimately, you want to do all you can to make sure a lien isn’t placed on your property in the first place. Typically, there are a number of requirements a creditor must meet before issuing a lien, so keep in mind, they have already done their homework on what they are rightfully owed.
If you are disputing a lien based on poor performance by your contractor, keep detailed records of what you were promised, what you received, and all of the money you spent to fix the errors. Be sure to include inspection records, dates, and photos with your other evidence.
Consequences of Not Resolving Your Liens and Tax Problems
Ultimately, if certain liens go unresolved you run the risk of losing your home. When liens go unpaid, the creditor has the ability to foreclose on the property. If you have a lien on your house or if you have problems paying the property taxes, you will want to take action right away. Reach out to your creditors to resolve the situation, or work with the team at Narrow Path House Buyers to sell your house right away. We buy houses in Greenville fast!