Sell a Home with Title Issues
Most people think it could be a big problem to sell a home with title issues. Depending on the particular title issues, there may simply be a delay in closing a sale transaction. In other cases, specialized legal work will be needed to transfer the property to a new buyer.
Experienced real estate investors usually know which problems are easily solved, how long it’s likely to take and how much the legal work will cost. They are familiar with title issues, so it’s not intimidating to call an attorney to discuss possible solutions.
If you own a house that came with title issues, or if liens or other situations have developed while you’ve owned the , selling to a house investor may be a good choice.
What Are Title Issues?
When the title to a parcel of real estate is encumbered by a mortgage, a mechanic’s lien, a tax or other lien, those are issues than can be solved byvestor may be a gpaying money owed. Paying off a mortgage lien is a good example. Any homeowner with a mortgage has a title issue, but it’s a normal issue that will be solved at closing when the mortgage is paid off.
A mechanic’s lien means there is a contractor to whom money is owed for doing work on the property. And a tax lien means the city, county, state or federal taxes are in arrears, and must be repaid to clear the title.
Some title issues are not so obvious, however, and not as easily cured by simply making a payment. These issues include faulty transfer of the property by unauthorized people in the past, or signatures of people who were assumed to be single but in fact were married. In other words, these issues cannot be seen by simply reading a deed, title insurance documents or an abstract of title.
Title examiners are trained to follow the ownership of a parcel of real estate, and to identify mistakes or gaps in ownership documents filed with the county where the house and land are located. They are lawyers or they work for lawyers who review the work and give legal advice to property owners regarding the issues and how to fix them.
How to Avoid Dealing with Title Issues
Calling a professional buyer is one of the best ways to sell a home with title issues. We Pay Fast is waiting to hear from you now. Call (405) 521-1807 or email us at [email protected] to speak to a professional real estate investor with experience buying homes with title issues.