Over 68% of home sellers in Florida say they were highly satisfied with the process in 2019. However, there are some instances that can make selling a property a less-than-pleasant process.
For instance, if a property lien was taken out against your home, you could have a more difficult time trying to sell it. This can be especially true for homeowners who have filed for bankruptcy and have ended up with a judgment lien as part of the discharged debt exchange.
Liens like these can be a huge complication when it comes to selling your home. However, by using property lien search companies in Florida, you can find out what liens you have against you so that you can begin to rectify the situation and begin the closing process.
Types of Property Liens
There are two different types of property liens: voluntary and involuntary. Voluntary liens are those that a homeowner agrees to — for instance, a mortgage. Involuntary liens, on the other hand, can come from a couple of different sources and are almost always placed due to debts being owed. While not every type of creditor can place a lien on your property, here are some of the most common types of property liens.
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- IRS Liens: The IRS can place liens on the property that you own and force you to sell if the debt you owe is large enough. While liens like this will usually give you a lot of forewarning, it’s important to act quickly if you do acquire an IRS lien.
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- Property Tax Liens: Another tax-related lien can come from unpaid property taxes. If left unpaid, in some instances, the lender will pay the taxes and add the amount to your mortgage debt. However, if this is left unpaid you could face a government lien that could result in a forced sale of your property to cover the amount.
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- Judgment Liens: Creditors can seek this type of lien if they sue you and win the case. Using a property lien search for this type of lien can be helpful if you have paid the amount due but are unsure if the lien has been properly removed or not.
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- Unrecorded Municipal Liens: Using a property lien search can be especially helpful when trying to find out if you have acquired this type of lien. Usually placed against your property if you have an outstanding water or sewer utility bill, this type of lien may catch some homeowners by surprise. These liens may stem from unpaid water or sewer charges, as well as road improvements.
If you are planning on selling your property, it’s worth utilizing a property lien search just to make sure you won’t run into any unexpected surprises during the sale process. Knowing about these liens ahead of time can allow you to rectify them as soon as possible, allowing you to put your home up for sale without any hiccups.
Whether you are planning on selling soon or just want to make sure everything is in order for the future, consider using a property lien search to make sure you have nothing outstanding against your home. The peace of mind will be well worth it.