Colorado Real Estate Tip: Liens Against the Title
Occasionally homeowners who are trying to sell their home are surprised to learn that their title is encumbered by a lien. There are several types of liens; the most common are mechanic’s or contractor’s liens but they can also be related to your Homeowners Association for unpaid fees ot tax liens for unpaid taxes.
The lien (or debt) must be paid off or settled in order to be cleared. 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. This is where an experienced real estate agent can provide solutions to resolve the issues and conclude the sale. I have personally helped sellers remove liens, negotiate reduced liens during the short sale process and helped Sellers avoid nasty suprises at closing. If you’d like to learn more– please give me a call or drop me an email.
Bob Maiocco
Broker Associate
The Maiocco Team, Inc.
Keller Williams
(720)273-4262 direct
follow me on Twitter: @BobTheBroker
blogging at: www.DenversRealEstateNews.com
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