You may be surprised to learn that some homeowners who are trying to sell their home learn at the last moment that their title is encumbered by a lien. There are several types of liens; the most common are mechanic’s or contractor’s liens.
The lien (or debt) must be paid off in order to be cleared, and or the home to sell. So how do you clear the lien?
If the owner prefers to challenge the lien, he can release it by posting a bond, pending adjudication. In some types of liens, a title search may disclose claims against the property by an ex-spouse or long-ago heir of a former owner. A simple “quitclaim” deed may be used in these cases. By signing the deed, the person involved signs over whatever rights he or she might have, without laying any claim to the property.
Most real estate transactions involve at least some minor unresolved issues on the part of either the buyer or the seller.
Only an experienced real estate agent can provide solutions to resolve issues like this and conclude the sale.
The Gladys Blum Group is the most experienced group of agents in Salem Oregon so when you start the journey of selling your home, call 503-485-1900.