Selling a house or property is itself a dinosaur-sized task and is an open invitation to a world full of monsters. Not only is it tedious and long-lasting, but it will leave you emotionally drained by the time you are done with it.
And the most-deadly monster in this world full of monsters is selling your Jacksonville property with a lien(s) attached.
Did you know that title issues lead to nearly 11% of closing delays?
What’s more shocking is that about 1/3rd of the real estate deals require title companies to dig in deep and spend a great deal of time addressing the title issues.
For those who don’t know what liens actually are, let’s have a look. Moving forward, we will be shifting our focus towards the most common liens attached to properties, helping you clear your concept and resolve your issues the right way.
What’s a Property Lien?
Lien, precisely a property lien, is a legal claim that a creditor can impose against your property for the purpose of securing a debt payment or performance of an obligation.
If you owe some kind of debt to creditors, they can collect their debts by imposing a lien on your Jacksonville property.
If you have a lien attached to your Jacksonville property, it will show up while refinancing, selling, or transferring your property in a title search.
And nobody on planet Earth would want to buy a property with liens attached. Let’s take a look at the different types of property liens.
Types of Property Liens
Here’s a list of property liens that a creditor may attach to your home:
- Tax Liens
- Mechanics Liens
- Mortgage Liens
- Judgment Liens
Let us dive deep into each of the lien types one-by-one.
Tax Liens
Okay, let’s say you forgot to pay your taxes, local or federal.
In that case, the IRS or any other government entity may place a tax lien on your Jacksonville property for the unpaid taxes amount.
This includes various types, including business taxes, income taxes, as well as property taxes.
And if you are wondering whether they will ultimately lead to foreclosure, then calm down and have a sip of your favorite beverage. They won’t.
Tax liens will stay on your real estate property to make sure that they are paid.
Mechanic Liens
This right here, Mechanic Liens, is the most important lien type you should definitely know about, especially in the construction industry.
Every state in the United States has laws put in place, giving the laborers and construction businesses the right to place a mechanic lien.
Let’s say that you didn’t pay some party in the construction industry like material supplier, contractor, equipment lessor, or just any other professional; then, he/she/they can place a mechanic lien on your Jacksonville property.
Mortgage Liens
Almost all of us apply for a mortgage, especially while buying a home.
The chances are that you would have as well.
But if you stop making your mortgage payments on time, then the lender may place a mortgage lien on your property.
The lender may even take possession of your Jacksonville property or foreclose it to make sure that the balance gets paid off.
Judgment Liens
Judgment lien(s) is/are the result of a lawsuit(s).
Let’s assume that you are a party to a lawsuit and lost.
In that case, the court will be asking you to pay a fixed amount to the judgment creditor a fixed amount in damages.
If you aren’t able to, then the judgment creditor holds the right to place a lien on your Jacksonville property.
BuyingJaxHomes is Here to Save the Day
Selling a property with a lien(s) attached is super-hard.
You’ll be required to take care of all the debt or unpaid amount.
In some cases, it might even lead to foreclosure.
Hence, you should be extremely careful.
Selling your Jacksonville property with liens attached via the traditional property-selling process will leave you emotionally drained. Add other real estate fees like commission, closing, title search, etc. to the list.
In the end, you may end up with so little in your hands.
Plus, it’s advisable to keep a trusted real estate professional by your side at all times.
And we at BuyingJaxHomes would love nothing more than facing your problems TOGETHER.
With us, you won’t have to worry about any kinds of commission fees, service fees, closing costs, etc.
We’ll be sending your way an all-cash offer, which you need to accept and BOOM -> Property Sold.
For property with liens attached, we’d love to be by your side and help you throughout the entire process.
So, what are you waiting for?
Submit the form TODAY!