You’re eager to ditch your house and move on to greener pastures, but there’s just one problem: There’s a lien on it. Wondering, “Can I sell a house with a lien on it?” Yes, but it’s more complicated than selling a house without one. The easiest way is to sell the home to Alan at Pyramid Properties. We buy houses in Memphis in any condition.
How Do House Liens Work in Memphis?
First things first: Does your house have a voluntary or involuntary lien? A voluntary lien is basically another term for a mortgage loan. If you don’t make payments on the house, the lender can foreclose on it.
Involuntary liens are liens that arise when you owe a debt to someone. For example, if you had an accident and opted not to pay the hospital for your care, it could put a judgment lien on the property until you pay the bills. The IRS can also put a tax lien on the property if you fail to pay taxes.
Can You Sell a House With a Lien on It?
You’re wondering, “Can I sell a house with a lien on it?” You can, but it isn’t as easy as selling one without. First, do a title search at your county records office to see what types of home liens are on the property. Once you know that, you can determine whether it’s possible to settle any of the liens for less than you owe. Some lienholders will negotiate with you because they’d rather get some payment than nothing.
From here, you could go one of several routes. You could pay off the lien for debt settlement, of course, but depending on how much you owe, this might not be feasible. Another option is to find out whether the creditor will let you pay off the lien with proceeds from selling the property. If you go this route, you’ll have to work with an escrow agent.
Alternatively, you can sell the house with the lien still attached. This is difficult because not many buyers want to purchase a home without a clear title.
The easiest path is to sell your house to a cash buyer, such as Alan at Pyramid Properties. This way, you won’t have to stress about finding a buyer, clearing the lien, or showing the property. It’s by far the best and most headache-free way to sell a house with a lien on it in Memphis.
Want To Sell a House Without a Clear Title in Memphis? Call Alan at Pyramid Properties
“Can I sell a house with a lien on it?” When you work with Alan at Pyramid Properties, selling a house with a property lien is as easy as can be. Alan can make you an offer in less than 24 hours, and you’ll usually have cash in hand within seven days or less
To get a quote for your property or learn more about the benefits of selling your house for cash, call Alan at (901) 504-5555.