Selling a Tuscaloosa House Due to Debts and Liens

What is a lien on a house?

A lien is a legal claim against property granted by a court to a creditor when a debtor doesn’t pay their debts. Liens are filed with the county office and sent to the property owner advising them of repossession of the asset(s). The law provides that once the judgment has been made and filed, it can be enforced by any means necessary: like foreclosing on your house, taking personal property (like your car), and demanding specific performance (like getting back what you lent or borrowed).

How do I sell a house with a lien on it?

A house can be sold “as is” when there is a lien or judgment against the property. One problem with this is that either the buyer or seller will have to deal with the lien. This process is strenuous, complicated, and can be highly stressful, especially when your own emotions are involved. Creditors know that most people misunderstand their rights and options in resolving a lien. If this concern may be a hindrance to the potential buyer, you’ll need to go about selling it another way. You may also consider selling the property “subject to.” This means that if someone accepts your offer, they’re agreeing upfront that if there’s a lien on the home post-sale they will take responsibility for it as well as paying you an agreed upon sum of money at closing in order to cover your costs until said sale date.

If you need to sell a house with a lien on it fast, follow these steps:

If you need to sell a house with a lien on it fast, follow these steps: 

  • Research the market and find out what houses in your area are selling for. You can get this information from an appraisal or by looking at recent sales of similar homes in your neighborhood. 
  • Determine how much money you will need after taxes and closing costs to be able to walk away from the sale without any debt, so you are able to close the lien. If there is not enough money available (the amount owed is greater than what will be received), don’t go through with it! 
  • Find out if there are any grants or programs available that might help cover some of the expenses. 
  • List the home on MLS with photos, description, contact info, etc or sell to Act First Properties!

If you need to sell a house with a lien on it fast, follow these steps:

If you need to sell a house with a lien on it fast, follow these steps: 

  • Research the market and find out what houses in your area are selling for. You can get this information from an appraisal or by looking at recent sales of similar homes in your neighborhood. 
  • Determine how much money you will need after taxes and closing costs to be able to walk away from the sale without any debt, so you are able to close the lien. If there is not enough money available (the amount owed is greater than what will be received), don’t go through with it! 
  • Find out if there are any grants or programs available that might help cover some of the expenses. 
  • List the home on MLS with photos, description, contact info, etc or sell to Act First Properties!

Can you sell a house with a lien on it by yourself?

Technically, yes. But who wants to go through that? It’s just not worth it for most people because of the stresses and complications. Plus, there are legal limits on what you can sell a house with a lien on it by yourself. If this is your situation, I’d recommend speaking to an attorney about how you can get the lien removed before putting your house back up for sale.

I’m Behind on Payments. Can I Sell My House to Avoid Foreclosure? 

Yes, you can sell your house to avoid foreclosure. You’ll need to do so before the lender files a case against you.

I Am Interested in Selling my home to pay off debt, But It Needs Repairs I Can’t Afford, what should I do?

If you need to sell your home and it needs repairs, Act First can help. We can buy your property “as-is.” This means we will purchase the property regardless of its condition. 

I’m Selling My Home To Pay Off Debt. What Do I Need to Do?

Get a cash offer by contacting Act First Properties at 205-361-7735 and we can walk you through the entire process.

Want to sell your house in Tuscaloosa, AL fast?

Whether you are trying to avoid foreclosure, facing divorce, moving, upside down in your mortgage or have a lien on a property, call us to get a fair cash offer and close when you are ready to sell.

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