If you’re looking to Sell a House in San Antonio Texas with a lien, then this blog post is for you! A lot of people are unfamiliar with what a “Lien” is or what it means to sell your property with a lien on it. This article will help explain what a Lien is and how the process of Selling you House in San Antonio with a Lien works. We’ll also go over some other options that can help sell your house faster and without the hassle of liens.
The first thing you need to know about selling a house in San Antonio Texas with a lien is…
What exactly a Lien Is?
A lien is a claim placed on your property as security for the repayment of debts. In other words, this means that if you sell your house with a Lien; then before you sell it you will need to pay off what’s owed to whomever has place the lien on the home before you can sell or transfer ownership.
A judgment lien is a court ruling that gives a creditor the right to take possession of a debtor’s real or personal property if the debtor fails to fulfill his or her contractual obligations.
As you can see, a judgment lien is usually placed on your house when you have failed to pay off what’s owed.
Who can put a lien on my property?
A lien can be placed on your property by anyone who is owed money.
A mortgage lien may be placed against your property by your Lender. The IRS may place a federal tax lien against your home for unpaid federal taxes, If Estate Taxes are not paid, the Texas Department of Revenue may put a lien on your home. If a subcontractor, contractor, or construction employee hired to perform work on your home does not receive payment, they may place a mechanic’s and material men’s lien on the property. If your HOA has not received payments for outstanding fees, they might place a lien on your property as well.
To summarize, any person who is owed money that involves your property has the ability to ask for a lien.
Can you sell a house with a Lien?
Now that you know what a lien is, can you sell your house with one? When selling real estate in San Antonio Texas it’s important to understand how liens affect the sale of your property.
Let’s imagine you are trying to buy a house and you were able to find your dream’s house. You put an offer on the house, it gets accepted and then during your inspection period you find out the seller has a lien on the home.
Would you be wiling to buy a house with a Lien on it? you pretty much are going to take this as your own headache. You don’t want anything to come back and bite you after closing do you? Of course not! you are not going to buy it!
So same thing happens to you when you try to sell a house in San Antonio Texas with a Lien on it.
We’ve put Together 3 Alternatives for You to Sell Your Home With a Lien on it in San Antonio.
1.- Pay Off your Debt:
If you can afford to pay off what’s owed before selling your house in San Antonio Texas, then do it. This could be a good option to get your home sold.
However this option could be expensive if your debt isn’t small enough to pay off fast enough. It may take months (or even years) before you are able to sell your home in San Antonio. This is something you definitely will need to take care of before you even think about listing your property.
You have to make sure the Lien is not longer attached to the property, and then you will be able to list it and wait until you get the right offer.
If that’s too long for you or if you just can’t pay off the debt (remember there are usually interest associated with Liens, you will received a bigger payoff number that the actual amount of the Lien) ; I’d go over our next alternatives!
2.- Use the Proceeds From the Sell to Pay Off your Debt
That will be an option if you are confident that the sale of your property is going to cover all or most of what’s owed. Otherwise this could be a very expensive way to sell. Because instead of you receiving money out of the sale of you house, you will actually need to pay to sell it… so please calculate everything really good if considering this second alternative.
You should not take this option if you have not actually double and triple checked your numbers. If a Real Estate Agent has given you an Estimated Value of your house, try at least to get this Value information from 3 completely different Agents.
If you sell your house with a Lien on it in San Antonio Texas and then you need to use the money from that sell to pay off what’s owed, you might not have enough money left over for closing costs, fees and commissions to actually sell it, it could be even more complicated if you are thinking about to use the proceeds of the sale of you house to buy a new one.
This option also is risky because if there are no interested buyers or offers after putting up your property for sale; You will be stuck paying high interest rates while trying to sell an unsold property ! so please check all this very carefully before taking this second alternative!
3.- Sell your House to Us… An Investor
You can avoid all these headaches entirely by doing things right from the beginning. You can sell your house In San Antonio with a Lien on it without going through the hassle yourself.
We have bought many houses with Liens on them in San Antonio Texas, you might be asking..why?
Well, let me tell you why! We are able to buy houses in San Antonio Texas with Liens, because we have a team of experts that know how to handle these situations, also when you sell to an investor you don’t have to pay any attorney fees, closing cost, commissions or title fees. There is not time on the Market, no showings, no repairs and even no cleaning.
You are staring to guess why this option could work for you, right? You got it!
Since you are going to have less expenses and because our offers are not dependent on banks appraisals. You will be having a Strong Offer that makes sense. We could even payoff the debt and put cash in your pocket at closing.
We can make you an offer even if there is a lien on your house, sell your house to us without paying anything or having the headache of trying to sell it yourself!
How Can You Sell Your House in San Antonio With a Lien On it?
You simply have to fill in the form below; And voilà – You’ve just made life so much easier for yourself…by selling directly to us.
We will contact you right away and provide you within Options about what would be your Best Options, at no cost and no obligation to you.
We offer free consultations so we can meet one on one and explain everything there is about selling you house in San Antonio with a Lien on it. We will make sure that all these legal matters are handled properly by our professionals.
Reach out to us, you will be happy you did!