Utility Liens (water & sewer in certain states or counties).If IRS does not exercise its redemption right within the 120 days, it will automatically expire. IRS Liens – there is a 120-day right of redemption period from time the deed is recorded.Department of Treasury Liens (there are some exceptions).Here are some (not all) of the liens that survive a foreclosure sale. In a worst-case scenario, they can foreclose on the other property that person owns to satisfy this debt though this rarely happens. So, for example, if that person were to sell their personal home, the lien on another property would have to be satisfied prior to issuance of title insurance. Remember that the county can attach a lien to other properties that person or entity owns when they are the lien holder. As a new investor you could hire someone to negotiate the lien or experience you could do it yourself. Typically, if you purchase a foreclosure auction property and contact the entity holding the lien and explain the situation they may reduce or forgive the lien held against the property. ![]() If you purchase a property at a foreclosure auction or buy a non-performing notes and foreclose as the lender, then you should be aware of which liens survive foreclosure auction since you will be responsible once the foreclosure deed is recorded assuming all lien holders and other parties of interest are notified.
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