Let the Real Estate Attorney Handle the Lien
Dealing with the variety of real estate rules and regulations can be a tricky business. For those lacking little practical law experience, trying to jump through the seemingly endless array of hoops and hurdles can prove to be a nightmare. While time and experience can cure all these woes, you will learn the tricks of the trade faster by befriending a real estate attorney and tapping into his or her experience and knowledge.
Certainly there are times when you can go it alone as a real estate agent. But when there are substantial legal ramifications involved, consulting your real estate attorney just makes good sense. One such instance when you will likely want to seek the counsel of your real estate attorney occurs when somebody has filed a lien against the property you have up for sale. Issues over liens can get ugly quickly and you will learn to appreciate the fire power a real estate attorney brings to the table.
Lien Complications
Suppose property owner John Q has put his two story house up for sale. John Q's creditor, Big Building Supply, files a lien on the property because John still owes BBS for supplies used in the construction of the property. John Q doesn't dispute this bill, and has agreed to pay it in full.
In an effort to make good on his obligations to the creditor, John Q requested the payoff amount from the lien holder. The lien holder returned the payoff amount, which was three times as much as the lien. John can't sell this property without a free and clear title, so what can he do to resolve this lien dispute?
As you might have guessed, the first thing John needs to do is talk to an experienced real estate attorney. Most real estate attorneys have ample experience dealing with such lien claims and complications. If the preceding scenario should ever apply to you, your real estate attorney should be able to advise you through the appropriate legal steps you can take so that you can successfully sell your property free of any liens.
The
real estate attorney will likely be able to negotiate with the title company and provide a resolution that allows you to sell the property to the buyer, without the buyer fearing the lien holder might try to take possession of the property. In this manner you can please all parties involved in the dispute.
Simpler real estate situations can usually be handled without the assistance of a real estate attorney. However, when the big money is on the line, such as when a lien is filed, you definitely want to cover your bases by discussing the matter with a
real estate attorney. The real estate attorney will be able to direct you in how you should respond to the lien claim so that the issue is cleared up in a professional and timely manner.
About Author Adam Smith
Adam Smith is an informational author for 10X Marketing, an internet marketing firm specializing in
Search Engine Marketing. To learn more from
Mark Hansen Houston on
how to reach your financial goals please visit OneMinuteMillionaire.com.
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