Are you burdened with property liens or tax problems in Bakersfield? You don’t have to feel stuck. Learn how to sell your house with liens or tax burdens in our latest post.
Are you overwhelmed thinking about how to sell your house if you’re behind on taxes? Maybe you need to move or sell your house, but you are nervous that past decisions and liens might affect your ability to sell. Don’t fret any longer.
If you don’t have the money to pay off the liens on your property or the overdue taxes, that doesn’t necessarily mean that you are unable to sell your house. This article will explain liens a little further, as well as some options you may have to sell your house in Bakersfield, CA.
What Is A Lien?
Per Investopedia, “A property lien is a legal claim on assets which allows the holder to obtain access to the property if debts are not paid. A property lien must be filed and approved by a county records office or state agency. It is then delivered to the property holder with specific terms notifying them that action has been taken to repossess a piece of property.”
For example, if you are behind on your mortgage, your lender might place a lien on the property. If you have ever had work done to your house and hired a contractor or some kind of company and you failed to pay them on time, they might also place a mechanics or judgment lien against the property. If there is a lien on the property, the lienholder could foreclose and sell it in order to make their money back.
A lien like this also makes it so that you are not able to sell the house unless the lien has been paid and settled.
Sell Directly To Buyers of Bakersfield
With a direct sale of your house to Buyers of Bakersfield, you will be able to leave the liens and tax problems behind. You won’t have to find the money to pay off liens or to pay off your back taxes. We will handle all of the debts, while quickly and efficiently buying your property for a fair price. All of the hassles and headaches could be over in only a matter of days, allowing you to sell your house with liens or tax problems fast in Bakersfield!
Create A Repayment Plan
If the liens add up to a significant amount, it might be very daunting to think about paying it all of; however, most creditors want to make it possible for you to pay off your debt. Try to see if the lienholders will work with you to create some sort of plan for you to repay them over time. They just want to be paid what is owed to them, and if you take the initiative to show them you’re serious about paying them back, they will most likely work with you in whatever way they can.
Remember that you will not be able to sell your house until these liens are paid off, so if you have any plans to move or sell your house quickly they may have to be put on hold for a while if your debt is going to take a while to pay off. Keep this in mind when you are making decisions on how to move forward.
Dispute The Lien
If a lien has been issued against your property that you disagree with, not all hope is lost. You have the ability to dispute the lien so long as you have a strong rebuttal. You’ll need to have supporting documentation and a valid case against the creditor. You cannot simply argue that you believe they charged too much after you agreed to the price.
To strengthen your case, you’ll want to start fighting the lien as soon as it is placed against your home, if not before. Ultimately, you want to do all you can to make sure a lien isn’t placed on your property in the first place. Typically, there are a number of requirements a creditor must meet before issuing a lien, so keep in mind, they have already done their homework on what they are rightfully owed.
If you are disputing a lien based on poor performance by your contractor, keep detailed records of what you were promised, what you received, and all of the money you spent to fix the errors. Be sure to include inspection records, dates, and photos with your other evidence. The more prepared you are going into this process, the higher your chance of success. As a rule of thumb, only argue if you know you have a strong case and solid footing to work with.
What Happens If You Don’t Resolve Your Liens and Tax Problems
Ultimately, if certain liens go unresolved you run the risk of losing your home. When liens go unpaid, the creditor has the ability to foreclose, assuming ownership of the property themselves. If you have a lien on your house or if you have problems paying the property taxes, you will want to take action right away. Reach out to your creditors to resolve the situation, or work with the team at Buyers of Bakersfield to sell your house right away.