Have you been held up from selling your Tampa house by a property lien or tax problems? Don’t let these issues get the best of you. An unfortunate side effect of the housing market is that it can be difficult to find a buyer with liens or tax problems. If you can’t pay off your debt, the property might keep dragging you down further into an even more indebted position. You will learn more about what a property lien is in this post, and what you can do to continue selling your Tampa house no matter the situation.
What Is a Lien?
A property lien is a legal claim on assets which allows the holder to obtain access to your home if you don’t pay your debts. Property liens are filed and approved first by a county records office or state agency; they’re not arbitrarily placed. A notice is 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 that house if you are not paying your mortgage in on time. A mechanic’s lien or a judgment lien can be placed on your house if you don’t pay for work done at the property. A homeowner who isn’t able to pay off their lien risks having it foreclosed on by the issuing party. Placing a lien on your house will stop you from selling it until the debt has been fully paid off.
Work Out a Repayment Plan
You may feel like paying off your debt would be the end of life as we know it, but don’t lose hope! There are many creditors who will work with you and create payment plans. Reach out to your creditor to see what they’re able to work out for you. Ultimately, their goal is simply to ensure that they are paid. Making an effort will make creditors more forgiving and willing to work with you.
Once the liens are lifted from your property, you will be able to sell it quickly and for a good price. Though this process does take some time though depending on how much debt is in place. With the debt paid off, you may find yourself holding onto your house a little longer than planned. Once your debt is paid off, you will have the opportunity to move ahead with selling your Tampa house.
Contest The Lien
If you feel misrepresented with the lien that has been placed on your property, there’s still hope for getting it removed. It’s important to dispute the lien as long as you have a strong argument. You’ll need to have your documentation and the proper case against a creditor. The sooner you start fighting the lien, the better. Ultimately, you want to do all in your power to fight a property lien placed on your property. The creditor must have done their homework before issuing any liens, so make sure to be aware of what requirements they need met in order to prove your case.
If you are disputing a lien based on poor performance by your contractor, keep detailed records of what was promised and how much it cost to fix each error. If you have any photographic evidence, that helps immensely.
Consequences Of Ignoring a Lien
Undergoing an unresolved lien can lead you to losing your home. The creditor has the right to take immediate action when a lien goes unpaid. They can foreclose and assume ownership of your property. If you are having trouble with the property taxes or if there is a lien on your house, it’s important that this problem be resolved quickly. You’ve been in contact with creditors and want to work out a solution, or SellThatFloridaHouse can help you find buyers quickly.
Consider a Cash Sale
Selling your Tampa house to SellThatFloridaHouse, you will be able leave the property lien and tax problems behind. We will handle all of the debts, while quickly and efficiently buying your property for an excellent price. With our help you can start again with a clean slate! We will make all of your debts go away, and we guarantee a fair cash offer, and we can close in your timeframe.