When selling a house, homeowners often wonder about required debt payoffs to streamline the process. Unfortunately, some liens or debts against the property exceed what the owner can handle before the sale. Can you sell a house with a lien on it?
The Kind Home Buyer explains how a sale would work in Cincinnati, Ohio, under these circumstances.
Types of Liens That Can Impact a Home Sale in Cincinnati
Liens in Cincinnati, or legal claims against a property to settle a debt, can take several forms, including the following:
Mortgage lien: This is the most common type of lien. Failing to pay home loan payments can result in a mortgage default, foreclosure, and ultimately, home loss.
Tax lien: Failing to pay property taxes or federal taxes can result in a tax lien.
HOA lien: Homeowner associations may put liens on properties within their communities to settle outstanding fines and unpaid dues.
Mechanics lien: Unpaid construction work, unpaid contractor supply orders, and unpaid designer services can lead to a mechanics lien against a home.
Child support or alimony liens: If a homeowner doesn't pay court-ordered alimony or child support, the court may place a lien on their home in Cincinnati.
How To Sell a Cincinnati Residence With a Lien
Can you sell a house with a lien on it? It's certainly possible. Most homeowners with mortgages sell their properties with lienholder approval by paying off their home loan balance with the proceeds of the house sale.
To sell a house fast in Cincinnati with a mortgage lien, it helps to factor the mortgage balance into the negotiated sales price. Encumbrance removal is ideal for those with equity in their properties.
For those with an involuntary property lien due to non-payment, it's necessary to resolve the lien or find a buyer willing to absorb it. The seller must mention the lien in the sale disclosure. Cash home sales are also an option, as the lien will stay with the property and the new owner.
About The Kind Home Buyer
The Kind Home Buyer is a trusted cash home buyer serving Cincinnati, Ohio, and surrounding communities. As a leading buyer they have made hundreds of successful home purchases of as-is properties. They provide fair, no-obligation cash offers for homes, regardless of their condition or the homeowner's situation, and close on properties in as little as seven days.
Can you sell a house with a lien on it? It's possible with the proper guidance. Call The Kind Home Buyer at (513) 951-8863 to request more information or review their FAQs online.
