Amy Fontinelle is a freelance writer, researcher and editor who brings a journalistic approach to personal finance content. Since 2004, she has worked with lenders, real estate agents, consultants, financial advisors, family offices, wealth managers.
Amy Fontinelle Personal Finance ExpertAmy Fontinelle is a freelance writer, researcher and editor who brings a journalistic approach to personal finance content. Since 2004, she has worked with lenders, real estate agents, consultants, financial advisors, family offices, wealth managers.
Written By Amy Fontinelle Personal Finance ExpertAmy Fontinelle is a freelance writer, researcher and editor who brings a journalistic approach to personal finance content. Since 2004, she has worked with lenders, real estate agents, consultants, financial advisors, family offices, wealth managers.
Amy Fontinelle Personal Finance ExpertAmy Fontinelle is a freelance writer, researcher and editor who brings a journalistic approach to personal finance content. Since 2004, she has worked with lenders, real estate agents, consultants, financial advisors, family offices, wealth managers.
Personal Finance Expert Chris Jennings Loans & Mortgages EditorChris Jennings is a writer and editor with more than seven years of experience in the personal finance and mortgage space. He enjoys simplifying complex mortgage topics for first-time homebuyers and homeowners alike. His work has been featured in a n.
Chris Jennings Loans & Mortgages EditorChris Jennings is a writer and editor with more than seven years of experience in the personal finance and mortgage space. He enjoys simplifying complex mortgage topics for first-time homebuyers and homeowners alike. His work has been featured in a n.
Chris Jennings Loans & Mortgages EditorChris Jennings is a writer and editor with more than seven years of experience in the personal finance and mortgage space. He enjoys simplifying complex mortgage topics for first-time homebuyers and homeowners alike. His work has been featured in a n.
Chris Jennings Loans & Mortgages EditorChris Jennings is a writer and editor with more than seven years of experience in the personal finance and mortgage space. He enjoys simplifying complex mortgage topics for first-time homebuyers and homeowners alike. His work has been featured in a n.
| Loans & Mortgages Editor
Published: Jul 27, 2023, 1:46pm
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You might want to check for liens on your property if you’re planning to list your home for sale. To improve their chances of a smooth transaction, most buyers conduct a formal title search to make sure a home they’ve gone under contract to buy doesn’t have unexpected claims against it. If it does, the closing could be delayed and the deal could even fall through.
Another reason to check for liens on your property might be if you’re planning to transfer or bequeath real estate to a family member. To prevent them from inheriting a messy situation, you’ll want to ensure your property doesn’t have any unknown liens.
A property lien is a legal claim that someone else holds against your real estate. It can prevent you from getting all the proceeds when you sell or refinance your real estate because the lienholder will have a right to that money before you do.
If the lienholder can force the sale of your property to recover what you owe, a property lien can lead to foreclosure.
There are several ways to search for liens against your home or another piece of real estate you own. The best option will depend on how much time, money and expertise you have and whether you’re looking for a specific lien or all possible liens.
Your county recorder, county assessor or local courthouse can help you check for liens on your property. For a fee, you may be able to search records online, submit a request by mail or conduct a search in person. This type of search can make sense when you know what you’re looking for and have the time to do it.
Certain public records—including liens—can be reported to credit bureaus and appear on your credit reports. For example, a child support lien may be reportable. Reviewing your credit reports is free, and checking the public records section of each report isn’t time consuming.
Working with a title search company is the most expensive but often the least time-consuming and most thorough way to check for property liens. You won’t have to visit government websites, make phone calls, pull credit reports, drive to the county recorder’s office or wonder whether you’ve missed something. You’ll also find out if anything else is encumbering your property’s title.
When you use your home as collateral for a loan or when you don’t pay someone money you legally owe them, you could end up with one of these types of property liens:
You might also see a lien described as senior, junior, super, primary, first, prior or subordinate. All of these terms refer to which lien holder gets paid first upon a sale, refinance or foreclosure.
When it comes to getting rid of a lien on your property, you have a few options. You can:
Check your rates today with Better Mortgage.
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Personal Finance ExpertAmy Fontinelle is a freelance writer, researcher and editor who brings a journalistic approach to personal finance content. Since 2004, she has worked with lenders, real estate agents, consultants, financial advisors, family offices, wealth managers, insurance companies, payment companies and leading personal finance websites. Amy also has extensive experience editing academic papers and articles by professional economists, including eight years as the production manager of an economics journal.
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