Believe it or not, there will always be a hint of hesitation on the part of buyers in purchasing a house with lien attached to it. If you’re wondering if it’s possible to sell a house with such encumbrance in Cleveland, Ohio – the good news is it’s indeed possible, especially when working with a cash buyer like Sell Your House Fast whose expertise is not confined to purchasing move-in ready houses but also to distressed properties.
What is a Lien?
Before anything else, one should properly know the definition of a lien. A lien, in its simplest definition, is a legal claim against a property for the satisfaction a debt before the house or property with such encumbrance can be sold. Essentially, a lien grants the “lien holder” a legal interest over the house or property. The state of Ohio takes cognizance of the different types of liens as mentioned below:
Judgement liens: When a creditor files a lawsuit against a homeowner and obtains a judgment, a lien is attached to the real property until the debt is paid or the judgment expires.
Mechanic’s liens: Builders or contractors ca place this type of lien on a property if the homeowner fails to pay for construction work done on the house.
Tax liens: This presupposes the existence of unpaid taxes where the IRS or the state of Ohio can place a lien on a particular house or property.
Mortgage liens: In a mortgage agreement, a lien can be attached to the property or house of a mortgagor as a collateral for the loan.
A Lien on Your House: What to Do?
In dealing with prospective buyers in Ohio, homeowner sellers are advised to check the records of the county clerk or visit the county recorders’ website to verify whether or not there’s a lien attached to the subject house or property. This will ensure a clear title which helps speed up the process of selling. Failure to do such verification, can result in passing the debt of the seller to the new owner which of course, can lead to several legal actions and complicate things.
Duration of a Lien:
In the state of Ohio, a lien extends from approximately five years on a realty to an indefinite period of time which may vary depending on the type of lien as stated above. The same with other legal proceedings, Ohio has specific procedures that must be followed biblically to dissolve or remove the lien based on its type.
Resolving a Lien:
Upon discovery of a lien on your house or property, it’s only natural to inquire once again if such encumbrance has already been paid or not. If it’s the former, check if the lien has been automatically removed, otherwise, you will need to contact the lien holder (creditor) directly and provide proof of payment to have it totally removed. On the other hand, if the debt remains unpaid, you can pay it off and request the lien’s removal.
Unable to pay the lien? Here’s What You Should Do
If you’re having a trouble paying off the lien attached to your house or property due to financial constraints and you feel like there’s nothing you can do – don’t lose hope because Sell Your House Fast is here to provide you with a straightforward and effective solution. Five (5) words. “Sell your house to us.” Yes, you read that right, we buy houses even with lien attached to them. This will give you the opportunity to pay off that debt and free yourself from complicated problems that may or may not arise if you keep that house under your possession.
To Answer Your Question…
Is it possible to sell a house with a lien in Ohio? Absolutely! Let us take that burden away from you, with our expertise in dealing with all types of liens, we can assist in selling your encumbered house quickly at a fair and competitive price to help you move forward.
Don’t waste time, contact us today and send your information to receive an offer or learn more about the process.
