If you are a homeowner in Detroit, you might think that you will never be able to sell your house with liens or tax problems. If you do not have the funds to settle this debt and pay it off, you could very well find yourself unable to rid the property for much longer than you want. This could force you even further into debt. In this post, I will tell you more about property liens plus what options you have to sell your house no matter what situation you find yourself in.
***Watch the video below to find out more about how to sell your house with liens in Detroit MI***
What Is A Lien On A House?
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 records 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.”
But what is a lien on a house? Well if we are focusing on real estate, your lender could put a lien on the house if you don’t pay your mortgage payments on time. You could also have a mechanic’s lien or a judgment lien placed on the house when some kind of work is performed on the house but you fail to pay off that entity that performed that work. Can you sell a house with a tax lien on it. Well, if the homeowner never pays off the lien, the issuing party can very well foreclose on the house. If there’s a lien on the property, you won’t be able to sell the house until you have fully paid off the dept.
Sell Directly To Amaze Properties LLC
Now, one option you have is by going through a direct sale of your house to Amaze Properties LLC. You are able to leave the liens and tax problems behind by selling your house with a judgement. You won’t have to come out of pocket with money to pay off liens or to pay off your back taxes. At closing, we are able to take care of all of the debts, while quickly and efficiently buying your property for an great price. Some buyers might be scared off with buying a house with a lien against it, but not us. There will be no hassles and headaches and it could be all completed in only a matter of days, which will ultimately allow you to sell your house with liens or tax problems fast in Detroit!
Create A Repayment Plan
Another option is that you could try to work with the creditors to create a payment plan to help you pay off your the lien. Before you decide that nothing is worth it, reach out to the creditor and try to work something out. The creditors goal is to ultimately collect what they are owed and get paid. If you try to do this, often creditors may be more forgiving and may be willing to work with you. After the liens are removed from the property, you will then be able to sell your house, but this can take a very long amount of time depending on how much debt you are in. When you are paying off the debt through one of these payment plans, it could mean that you must hold onto your house for longer than you wanted to. In the meantime, you are still paying the mortgage if you have one, the taxes, utilities, upkeep. So it may make more sense to try to sell your house with liens or tax problems directly to a cash home buyer like Amaze Properties LLC. If you decide to go with working with the lender and they allow you to pay through a repayment plan, once your debt is repaid, you will be able to move ahead with the sale of the property, but you may miss out on some great opportunities while you wait.
Dispute The Lien
If a lien has been issued against your property that you disagree with, you may even have another option. You may be able to dispute the lien if you have a very strong rebuttal. You’ll need to have supporting documentation and a valid case against the creditor. In order to have and even stronger case, your best bet is to start fighting the lien as soon as it is placed against your home, if not before. How to stop a lien on your property? Ultimately, you want to do all you can to make sure a lien isn’t placed on your property in the first place. Very often, there many requirements that a creditor must meet before even issuing the lien in the first place, so keep in mind, they have already done their homework on what they are rightfully owed and will likely already have the documentation to back it up.
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
In the end, if certain liens go unresolved you potentially could lose your home. When liens go unpaid, the creditor is able to foreclose, and then they’ll assume 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 Amaze Properties LLC to sell your Detroit house with liens or tax problems right away.