Liens on a property can present significant hurdles in a real estate transaction, causing delays and potentially derailing deals. For realtors, lenders, and investors, understanding the different types of liens and how they are addressed is crucial. Tier 1 Title possesses the expertise to navigate these complexities efficiently.
Common types of liens include mortgages (the most common), tax liens (resulting from unpaid property taxes), mechanic’s liens (filed by contractors for unpaid work), and judgment liens (resulting from court decisions). Each type has its own legal implications and requires a specific approach for resolution.
Our process begins with a thorough title search to identify any existing liens on the property. Once identified, our experienced team works diligently to understand the specifics of each lien, including the amount owed and the lienholder. We then collaborate with all parties involved – sellers, buyers, lenders, and lienholders – to facilitate the satisfaction or release of these encumbrances.
For realtors, early detection of potential liens through property disclosures or preliminary title reports is vital. For lenders, understanding the priority of liens is essential for securing their investment. For investors, assessing the potential cost and time involved in clearing liens is a key part of due diligence.
Tier 1 Title‘s proactive approach to lien resolution minimizes delays and ensures a smoother closing process. We keep all stakeholders informed of our progress and work diligently to clear the path for a successful transaction. Our expertise in this area provides peace of mind and allows you to focus on your core business.
