Are you burdened with property liens or tax problems in the Reno area? You don’t have to feel stuck. Learn how to sell your house with liens or tax burdens in our latest post.
As a homeowner in Reno and the surrounding areas, it can feel impossible to sell your house with liens or tax problems. If you don’t have the cash to pay off the debt, you could be stuck with the property for much longer than you would like, driving you even further into debt. In the post, you will learn more about property liens along what you can do to sell your house no matter what you are up against.
What Is A Lien?
Per Investopedia, “A property lien is a legal claim on assets which allows the holder to obtain access to the property if debts are not paid. A property lien must be filed and approved by a county recorder’s office or state agency. It is then delivered to the property holder with specific terms notifying them that action has been taken to repossess a piece of property.”
In the case of real estate, your lender may place a lien on the house if you are not paying your mortgage in a timely manner. Homeowners can also be hit with a mechanic’s lien or a judgment lien when work is performed on the property without any payment ever received. If the homeowner isn’t able to pay off the lien, the issuing party has the ability to foreclose on the property. By placing a lien on the property, the creditor stops your ability to sell the house until the debt has been repaid in full.
Sell Directly To Envy Property Solutions, LLC
With a direct sale of your house to Envy Property Solutions, LLC, you will be able to leave the liens and tax problems behind. You won’t have to find the money to pay off liens or to pay off your back taxes. We will handle all of the debts, while quickly and efficiently buying your property for an excellent price. All of the hassles and headaches could be over in only a matter of days, allowing you to sell your house with liens or tax problems fast in the Reno area!
Create A Repayment Plan
While paying off everything you owe all in one shot can feel overwhelming, many creditors will work with you to create a payment plan to help you pay off your debt. Before you feel too defeated, reach out to the creditor to try to work something out. Ultimately, their goal is simply to collect what they are owed. Making an effort to pay something will help your creditors be more forgiving and willing to work with you rather than you avoiding them like the plague. You can sell your house at any time if there is a lien on the property, but you will have to pay off the debt before there isn’t any “cloud on title“. And of course, when you sell the property the amount owed on the liens will come out of your proceeds.
Dispute The Lien
If a lien has been issued against your property that you disagree with, not all hope is lost. You have the ability to dispute the lien so long as you have a strong rebuttal. You’ll need to have supporting documentation and a valid case against the creditor. To strengthen your case, you’ll want to start fighting the lien as soon as it is placed against your home, if not before. Ultimately, you want to do all you can to make sure a lien isn’t placed on your property in the first place. Typically, there are a number of requirements a creditor must meet before issuing a lien, so keep in mind, they have already done their homework on what they are rightfully owed.
If you are disputing a lien based on poor performance by your contractor, keep detailed records of what you were promised, what you received, and all of the money you spent to fix the errors. Be sure to include inspection records, dates, and photos with your other evidence.
Consequences of Not Resolving Your Liens and Tax Problems
Ultimately, if certain liens go unresolved you run the risk of losing your home. When liens go unpaid, the creditor has the ability to foreclose, assuming ownership of the property themselves. If you have a lien on your house or if you have problems paying the property taxes, you will want to take action right away. Reach out to your creditors to resolve the situation, or work with the team at Envy Property Solutions, LLC to sell your house right away.