Generally speaking, a lien is a claim against a property that’s usually enacted when the property owner owes money to a creditor. Liens come in various forms: tax liens, judgment liens, and special liens are only a few examples. Regardless of the type of lien that’s on your property, the outcome is the same: unless the outstanding balance is paid off, the creditor has certain rights over the property (including to potentially sell it, depending on the type and amount of the lien in question). The best way to deal with a lien is to pay it off as quickly as possible. By negotiating a payment plan with your creditor, or finding the funds to pay the lien off all at once, you’ll be able to retain control over the property and keep your peace of mind. If you are unable to negotiate a payment plan and cannot pay off the outstanding balance all at once, however, it’s time to consider what your other options are.
Liens and Sales
One of the most commonly considered options for homeowners in the face of a lien is to sell the property. Though appealing, this is often difficult for homeowners who choose to go the traditional route: listing the house on the market and selling to a buyer who intends to live in the property. The conventional real estate process is already long (three months is the average in Florida) and difficult (back and forth negotiations are the norm). Adding a lien into the mix can make buyers hesitant, skittish, or compel them to be more aggressive in the negotiation process. Even if your buyer is lenient enough to be willing to take over the lien, it’s difficult to make that happen: banks are often very hesitant to approve home loans in these circumstances. All in all, if you’re thinking about selling your house, it’s wise to expect it to be a difficult process if you’re looking to sell it on the conventional market.
Lean on Us
With all of that said, what is the best option if there’s a lien on your house? It’s definitely worth it to consider selling your house for cash, and to consider PlacePitch as your cash buyer. We recommend this for a few reasons. A cash buyer won’t have the same hesitations as a traditional buyer about purchasing a house with a lien on it. In fact, they might be willing to assume the lien and give you a fair price for the difference – or, if it works better for you, they could be willing to buy the property so that you can pay off the lien yourself. Working with PlacePitch, specifically, as your cash buyer also means having a flexible timeline that’s much quicker than the traditional average. With PlacePitch, you can get a fair cash offer for your house in as little as one business day, or whatever timeline you need. Our three-step process makes it easy. On top of that, you can count on getting a fair, reliable offer: all of our cash offers are based on market deep dives, taking market data into consideration as it develops in real time. This means you can rest assured that you’re getting the best cash offer: one that’s based on numbers, not opinions. Working with PlacePitch means getting all the perks of selling your house without any of the drawbacks.