Selling A House With Liens In Jacksonville FL
Selling a house with liens in Jacksonville FL can come with many questions and concerns. When a lien is attached to a property, the property is now encumbered by that lien. Every lien comes with a monetary cost. Liens can be attached to property for a variety of reasons and therefore have many types. It’s important to know what liens are attached and the best way to deal with and resolve them. We buy houses with liens in Jacksonville, FL. If you would like a fast way to sell your Jacksonville house with liens, we are here to offer that service.
Evaluating The Liens Attached
There are many different types of liens that can be attached to real property. Here are a few explained below:
- Judgement Lien
A judgement lien is a type of lien that is filed by unsecured creditors. This can consist of medical bills, personal loans, credit card debt. A lawsuit must first be filed and then won by the creditor. From here the creditor can now obtain lien rights and can attach it to real estate and sometimes personal property. When the property is sold the lien must be paid off in order for the sale to be achieved.
- Property Tax Lien
A property tax lien is a lien placed against a piece of property due to prolonged delinquent taxes. If a homeowner does not pay their taxes, the state of Florida will sell a tax lien certificate to pay for the delinquent taxes. This certificate is purchased by someone such as an investor and it accrues interest the longer the homeowner avoids paying the lien. If the homeowner still does not pay the taxes/lien, their property will go up for sale at the tax auction (also called a tax deed). Here, the property will be auctioned off to the public and any money from the sale will go to pay off the delinquent taxes owed. Any excess money left from the sale is known as surplus and can be obtained by the homeowner.
- Mechanic’s Liens
A mechanic’s lien is placed by a contractor or worker who has completed work for you but has not been paid for his/her services. In order to satisfy this debt, the contractor may place a mechanic’s lien against a person’s real property. The contractor must record the lien within 90 days of not being paid. The contractor then must sue you to enforce the lien. If the contractor wins the lawsuit, the contractor may be able to force the sale of your property.
- Nuisance Liens
Nuisance liens are liens placed against a property due to disruption of the quiet enjoyment of neighboring homeowners. The city of Jacksonville is known to place nuisance liens on property for things such as tall grass, broken windows, garbage/debris lying around, and abandoned vehicles. These liens can be abated and reduced by agreeing with the city that you will make payment and clear them all up.
- Demolition Liens
A demolition lien is placed by the city usually on a vacant piece of land where a building once stood. The city demolished the structure due to it being condemned and seen as unsafe to enter. There are typically a large amount of nuisance liens from the previous property attached against a land lot that has a demolition lien attached.
- IRS Liens
An IRS lien can be placed against real property when there are back taxes that haven’t been paid to the government. The IRS can attempt to garnish your wages and receive a portion of your paycheck each time you are paid, in order to satisfy the debt. If the amount owed is substantial, the IRS may elect to force the sale of your property instead of waiting for the full amount to get paid back via employment wages.
- Child Support Liens
Self explanatory enough, a child support lien can be placed against real property when an individual fails to pay their necessary child support payments.
Paying Off The Liens Yourself
Depending on the amount and type of liens attached, the liens could be paid off by the property owner. Doing this will allow for the sale of the home to go through and these issues will no longer show up when a title search is run on the property the liens were formerly attached on. However, due to the high costs to resolve many of the liens listed above, homeowners may elect to simply sell the property with the liens attached.
Selling The Property With Liens Attached
A property with liens attached can be sold, however the new buyer will now be responsible for paying these liens. Not all liens must be paid when the property is sold, however most of them will. Often times, the amount of liens attached is worth more than the property, making it almost impossible for the sale to close. If the liens are of an amount where a buyer is willing to pay them off while still putting cash in your pocket from the sale proceeds, this can be your best option. Now that the liens have been paid, you may feel a weight lift from your shoulders knowing that creditors are no longer coming after you for past due payments.
If you’re interested in selling a property with liens in Jacksonville, FL, you’re in luck. We buy houses with liens in Jacksonville FL and are interested in buying yours. Simply fill in the form below or give us a call anytime at (904) 477-7383. We are prepared to answer any questions you have about existing liens on your property and help you to understand which each one means and how to resolve them. We look forward to hearing from you.
When dealing with liens attached to your property, there are two routes you can take. The first route would be paying off the liens yourself. This will allow you to remove the stress from creditors and others coming after you for past dues. It will also allow you to sell your property without any existing liens or issues on the title commitment. The other route would be to sell the property with the liens still attached. This may be your best route if the liens are too costly to pay for yourself. It will also save you time dealing with banks and other creditors trying to resolve the past dues and you should be able to net some money in your pocket after all is said and done.