Sell A House With a Lien On It

SELLING A HOUSE WITH A LIEN ON IT

Hey Berks County. Today we’re going to talk about how to sell your house cash in Berks County Pennsylvania if there is a lien on it. A lot of times homeowners in Berks County will call us and say, “I have a lien on my property.” So a lien is any type of loan or debt that you owe that’s tied to the house. So sometimes this can be a mortgage, a home equity line of credit, a water bill, sometimes if there’s unpaid water bills they’ll put that as a lien on your house an, unpaid tax bill. And a lot of times homeowners think they either have to pay off this lien on their house in Berks County before they sell, or that they can’t sell a house with a lien on it and this just isn’t the case.

My name’s April, I own Berks County House Buyers and we’ve been buying houses cash in Berks County Pennsylvania for over 12 years now. My team has seen a lot of houses where homeowners still have liens on the property. We recently helped a woman in Berks County who was in foreclosure. She had a home equity line of credit that she fell behind on payments. And so the bank had a lien on her property for that home equity line of credit. When you go to sell your home cash in Berks County, we do everything through a title company, just like a normal buyer would if you would have your home on the market with a real estate agent. Everything is done through a title company. The title company does what’s called a title search. So they’ll go back and see if there’s any liens, also known as debts, also known as loans that are tied to the property that you have to pay off. You do not have to pay off these liens prior to settlement.

When we buy a house cash, everything’s taken care of through the title company. So the title company will find out who you owe money to, whether it’s a bank or a mortgage company or the water bill or the taxes. And they will take the cost of that lien out of your proceeds from settlement and pay off that lien directly to that company so that you don’t have to worry about paying it off. So even if you have a lien on your property in Berks County, you are still able to sell it.

Sometimes we run into situations where a house becomes a short sale. This means that the loans or the liens that are owed on the property are more than what the property is worth. When we buy properties cash in Burks County that are in this type of situation, we end up having to negotiate with the bank on your behalf to see if they will take a payoff on the house that is less than what the lien on the property is.

So say we buy your house cash in Berks County for $100,000, let’s just use that number. It’s round, it’s an easy number to use. And say you owe $10,000 in water bills and taxes on the property. What will happen is we’ll go to settlement, we pay all of your closing costs at settlement. That makes it clean and easy so it’s not confusing about how much you’re going to walk away from the table with, what your check will be for. So we pay all your closing costs. So we’ll buy the property cash for $100,000. The title company, that way you get $100,000 at settlement, but the title company has to pay off that $10,000 lien. So they take that $10,000 out of the check you’re getting at settlement. So you will get a check for $90,000.

So the $100,000 cash offer that we made minus the $10,000 lien. So you would net in a check to you $90,000. You don’t have to worry about paying transfer tax or closing costs like you would if you sold your house on the market. We don’t charge any commissions when we buy a house cash in Berks county, PA. And we pay for all your closing costs to keep it simple, clean, and easy for you.

If you have any questions about selling a house cash in Berks County, Pennsylvania, and even if that house has liens on it, feel free to reach out to us so we can help you. We do free, no obligation consultations. We’re not going to feed you some kind of sales pitch or endlessly call you to see if you want to still sell your house for cash. We just like to help homeowners in our community. You can reach out to us at 610 816 6205 or via our website, www.berksdirectcashbuyers.com to see if we would be able to buy your house for cash in Berks County and get that lien paid off for you and relieve you of all that stress. We look forward to hearing from you.

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