Selling any home is a tough task, but trying to sell your home fast for cash can be harder than you ever imagined, especially if you still have a lien on your house. Whether it’s an unpaid tax obligation, a contractor’s claim, or another legal encumbrance, dealing with a lien as you try to sell your house fast for cash requires careful planning and strategic steps to ensure a successful sale. What should you do to make it happen? Here are a few of the key steps.
First, Get Some Information
Before you can sell your house fast for cash with a lien on it, you’ll need to get a bit of information. Start by identifying the type of lien you have on your property. Remember, a lien can come from a lot of different places, so figure out who currently holds the lien, and then reach out to them. Figure out how much you owe and what all of the conditions for releasing the lien are.
Next, Try to Settle the Lien
The bottom line with a lien is that you cannot sell your house fast for cash if the lien isn’t settled. You’ll want to negotiate with the lienholder to settle the debt. Often this means you’ll need to either pay the full amount or negotiate a reduced settlement. In some cases, you may be able to settle the lien after the sale, but that will mean you’ll need to work with the buyer’s agent or the title company to make it happen. In either case, you’ll need the paperwork to show that the lienholder either is satisfied or will be as soon as the sale is completed. Often working with an escrow service will help to ensure all parties are satisfied in the process. An attorney can usually serve in that capacity as well. Once that’s done, a lien release will be given to you, and you can officially clear the title of your home.
Proceed with the Sale
The last step is to sell your house fast for cash. Whether you’re working with a company that buys homes for cash or you’re working with an individual buyer, you should be able to move forward with the sale.
Selling Your House Fast for Cash with a Lien IS Possible
It is possible to sell your house fast for cash even if you have a lien, but you may need to disclose that to possible buyers before you actually sell your home. Remember that you’ll sell your home a lot faster if you’re transparent about any problems with the home!