Can You Sell a House with a Lien on it?
Selling a House with a Lien in Florida: What You Need to Know
Selling a home with a lien can seem like an uphill battle. A lien, which is a legal claim on your property due to unpaid debts, often deters traditional buyers. However, with the right strategy and support, selling a lien-encumbered property is possible—even without the stress of clearing the lien yourself. Here’s a guide to help you understand your options and how cash buyers like Trivanci LLC can make the process seamless.
Can You Sell a Home with a Lien?
Yes, you can sell a house with a lien, but it comes with specific challenges. You’ll need to:
Find a buyer willing to assume or pay off the lien.
Clear the lien yourself before closing the sale.
Cash buyers, such as Trivanci LLC, specialize in purchasing homes as-is, even with liens. This option saves you from the complexities of clearing the lien and allows for a faster sale.
Types of Property Liens
Liens are categorized as voluntary or involuntary:
Voluntary Liens: These are agreed upon, such as mortgages.
Involuntary Liens: These are imposed by law due to unpaid debts, such as tax liens or code enforcement liens.
Involuntary liens often complicate the selling process, as they signal unresolved financial or legal issues.
Steps to Sell Your Home with a Lien
1. Search for Liens on Your Property
To begin, confirm whether your home has any liens. You can:
Search the Florida Department of State website.
Check your county’s tax collector site for unpaid taxes.
Visit your county clerk’s office or website for public records.
Contact the IRS for federal tax liens.
Even if a lien has passed its statute of limitations, you’ll still need to address it to clear your property’s title.
2. Request the Lien Balance
Once you’ve identified a lien, contact the lienholder to get an accurate balance. This step ensures you know exactly what’s owed.
3. Evaluate Your Options
With the lien information in hand, decide your next steps:
Pay Off the Lien: If you have the funds, this is the simplest route. Once paid, the lienholder must release the lien within 60 days.
Negotiate a Payment Plan: For IRS or municipal liens, explore payment plans or reduction programs.
Find a Buyer to Assume the Lien: Cash buyers like Trivanci LLC may be willing to handle the lien as part of the purchase.
4. Verify Lien Clearance
After paying or resolving the lien, obtain a Release of Lien document and verify its removal from public records.
5. Sell Your Home
Once the lien is cleared or you’ve found a buyer to assume it, you’re ready to sell. Cash buyers can expedite this process significantly.
Understanding the Statute of Limitations on Liens
Liens have a time limit within which the lienholder can enforce payment. However, even expired liens may need to be formally removed from records. Here’s an overview of common liens and their statutes of limitations in Florida:
Mortgage Lien: 5 years after the final due date or 20 years if no due date is listed.
Code Violation Liens: Typically renewable, depending on local ordinances.
Tax Liens: 5 years for general tax liens; 20 years for specific tax liens.
Judgment Liens: 20 years, with possible renewal.
Common Types of Liens
Here are some of the most frequent lien types you might encounter:
Mortgage Lien: Voluntary lien tied to your home loan.
Code Violation Lien: Imposed for municipal ordinance violations, such as overgrown lawns or debris.
Tax Lien: Filed by the IRS or local government for unpaid taxes.
Utility Lien: Arises from unpaid utility bills.
Mechanic’s Lien: Filed by contractors for unpaid labor or materials.
HOA Lien: Imposed for unpaid homeowner association dues.
Judgment Lien: Court-ordered lien for unpaid debts following a lawsuit.
How Trivanci LLC Can Help
Selling a lien-encumbered property doesn’t have to be overwhelming. At Trivanci LLC, we specialize in buying homes with issues like:
Open code violations.
Unresolved liens.
Expired permits.
Homestead tax penalties.
Our Process:
Contact Us: Share your property details, and we’ll assess your situation.
Receive a Cash Offer: We’ll provide a fair, no-obligation cash offer tailored to your home’s condition.
Close Quickly: Finalize the sale in as little as 15 to 30 days.
With Trivanci LLC, you avoid the hassle of traditional sales, including realtor fees and lengthy negotiations.
Ready to Sell Your House with a Lien?
Don’t let a lien hold you back. Contact Trivanci LLC today for a no-obligation cash offer and let us help you move forward with confidence.