amount owed, including interest and other charges.
Paying the debt is the first half of the process of clearing a lien. The lienholder must then cancel the lien. This can take several months, depending on how quickly the lienholder acts and the volume of requests at the County Clerk’s Office. To avoid problems with the purchase, contact the lienholder and request that it endorse the lien for cancelation and give it directly to you for filing. Make a copy of the document and take the original to the clerk for cancellation. With a clear title, you’re free to sell your property. Once you receive the funds from the property sale, you can move forward with the new purchase. To ensure this new transaction goes smoothly, perform a lien search on the property you’re buying. This will alert you to any potential obstacles before taking possession. States may impose liens on homes when property owners fail to pay their real estate taxes. The homeowner must pay this new lienholder to obtain a lien release form, and then continue with the sale of the home.
NEED FOR SPECIALIZED EXPERTISE
The process of selling a home is both an emotional and financial investment. The homeowner who decides to sell a house by himself will find himself dealing with many unfamiliar processes, and mistakes may erase the benefit of selling (i.e., you might end up getting a very bad deal). The best advice is to leave the nuances to the professionals and hire an agent. Choosing the right person to help in the process can ensure a smooth flow that will lead to the road to financial freedom. Any good real estate agent might have all the knowledge and skill required to sell and buy homes; however, might lack the
116
Powered by FlippingBook