Debts and Liens
A judgment lien is put on your property in order to essentially make sure you can pay off the debt you owe. If you are not able to pay off a large debt in cash, the value of your property is used to pay it off – or, at least, used as insurance that the debt will be able to be paid off. Though actually selling the property to make up for that debt is a drawn-out process for the court, it can happen. On top of that, having a lien on your house can make it a lot more difficult to get rid of the house in the traditional real estate process.
Real Estate and Liens
If you were already thinking about selling your house before a lien was placed on it, or if you’re thinking about selling it now in order to pay off the lien, it’s important to know what to expect from the traditional real estate process when there is a judgment lien on your property. When you list your home on the market for regular buyers to view, know that it’s common practice for a title report to be run on the property before closing. Any liens on your house will be revealed in that title report, which is likely to make a regular buyer very skittish. This is because assuming the lien is impossible for anyone who will be applying for a mortgage; banks will pretty much always deny loans for properties that have liens on them. Generally speaking, buyers who are regular families looking for their next home are looking for an uncomplicated real estate process, even if it does take an average of three months to list and sell a house on the traditional market. A lien certainly complicates things, and it is likely to cause most buyers to say no to your property.
Selling for Cash
With all of that said, selling your house for a good price is in no way out of the question. In fact, it just might be your best option. Selling your house for cash can be the best way to pay off a judgment lien on your house, because it allows you to get cash quickly from a buyer who’s well versed in working with homeowners dealing with liens. When you work with PlacePitch, you can get your cash offer in as little as one business day. That’s because our three-step process is designed to be as easy and efficient as possible for homeowners:
- Request Your Offer by filling out a form on our website that takes just two minutes.
- Set Up a Tour with Our Experts so that we can come by, see the property, and make sure we give you the best offer we can. No staging, fixes, or cleaning required.
- Get an Offer and Close, and get paid with no hidden fees, commissions, or surprise costs. The offer you get is the payment you get, plain and simple.
If you want to pay off a judgment lien on your house, we’re here to help you with a fair cash offer that’s based on real market numbers as they develop. You can use the cash to pay off that lien and move forward with peace of mind into your future.
