Sell Your House To Payoff Debts/Liens in Houston, TX

What is a Lien?

The first thing we want to identify is “what is a lien?” A lien is a legal claim against property that can be used as collateral to repay a debt. Depending on the type of debt owed, liens can be attached to real property, such as a home. There are various types of liens depending on the creditor. Senna House Buyers can help you identify what type of lien it is!

When filed against your home, a lien gives the lienholder the ability to foreclose on your home. This is why, as part of the mortgage process, lenders will have a title search completed. A title search will uncover any liens attached to a property’s title. Mortgage lenders won’t approve a mortgage if the property has any outstanding liens.

If you want to sell your home that has a lien on it, you’ll most likely have to pay off the debt associated with the lien before you can do so. At Senna House Buyers, we can help identify the type of debt owed and how it affects the lien on the house.

Why is it important to remove a lien from your house?

A lien will prevent you from selling the property if it has not been paid off or released. If you had a previous lien that was already paid off, but the creditor did not file a release of that lien, you still will not be able to sell the house until that lien is removed. It is important to make sure that there are no liens, especially old or invalid liens, attached to the property.

Can you sell a house with a lien on it?

Yes! Call Senna House Buyers today to get started.

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

The lien must be paid off, negotiated, or removed for the homeowner to sell the property. The most common example is a mortgage company placing a lien on the house. In order to sell the property, the mortgage company or creditor will provide a payoff statement. When the lien is paid off – according to that statement – the creditor will provide a release of lien, thus removing it from the property.

Do liens expire?

Some liens do expire, but most do not. A judgement to non-government creditors expires after 10 years, however it can be renewed. All other types of liens do not expire.

What types of liens affect the sale of my house?

All liens attached to the property affect the sale of your house.

Should I sell my house to get out of debt?

If you have other debts that are becoming a burden to you or your family, and you have equity in your house, sometimes selling the property is the best solution to get out from underneath that burden. This is especially true if the property is becoming more and more difficult, or even expensive to maintain. This is when selling a house to pay off debts can be a smart decision for you and your family!

Can I sell my house to avoid foreclosure?

A major reason why our clients come to Senna House Buyers is to sell their home! Yes, you can absolutely sell your house to avoid foreclosure, especially if you are behind on payments; oftentimes, this is the best solution for you. There are other options available, of which the process can be very confusing and overwhelming for homeowners. Contact Senna House Buyers and we will help alleviate your concerns! We guide you on what the best options are for your unique situation.

I need to sell my house to get out of debt, but it needs repairs I can’t afford. What should I do?

At Senna House Buyers, we always encourage our clients to evaluate all the available options, not just selling your home. Many times, if a house is in need of major repairs or maintenance, and the homeowner can’t afford to fix it, it is a great idea to look into selling their home. Get the help of an expert that will walk you through all the options available even if it’s not selling the home.

How can I find out if my house has a lien?

Any lien attached to a house will have to be filed with the county where the house is located. You can search the public records at the county clerk’s website for your address to see if there’s a lien attached to the property.

How to get a lien release on a house?

To get a lien released, the creditor who filed the lien will need to sign a release of that lien. Oftentimes, this means you will need to pay the creditor what they are owed, or what they are willing to negotiate with you. If the lien is not valid, you will need to prove that at court to have a judge release the lien.

What do I need to get started with Senna House Buyers?

No initial paperwork or documentation is needed to get started with Senna House Buyers. We will help guide you through the process, which will depend on your unique situation. To help speed up the process, however, a few common items we will ask about are:

• A copy of the most recent mortgage statement, if there is a mortgage (whether you are behind or on time).
• A copy of any will if it is an inherited property.
• Any payoff statements from creditors that have liens on the property.
• A copy of the final divorce decree if the property is being sold as part of a divorce.