You see, a house that has a lien on it does not have a value that matches up with its asking price. Usually, the asking price is higher than the actual value of the house because of the lien. This is why houses with liens can be quite tricky to sell. But don’t get me wrong, these houses can still be sold.
You just need to know how.
First, you need to find out how much your house is worth. You can do this by researching the value of similar houses in your neighborhood and factoring whatever improvements or upgrades you made to your house (if any). If you know a realtor who can run comps for you, that will be awesome. However, you should remember that state law does not require realtors to reveal property value unless they get the house under contract. You wouldn’t want to execute a contract with a realtor because the commissions, along with the lien on the house will just eat into the proceeds.
After you find out how much your house is worth, decide how much you’d want to sell your house for, factoring all incidental costs such as listing fees, payment for the lien and all other expenses. Be realistic. Remember that the house as a lien on it and thus, that lien is cutting into whatever profits you may be expecting. Also, keep in mind your price will be higher than the actual value of the house because of the lien so don’t push it too high or else no one will show any interest in buying your house.
Next, find a house buying company who’s willing to purchase your house – lien and all – as is. Make sure to find one which has a good solid reputation who will give you a quick market value sell and won’t bite off all your profits. If you do your research right, the company you find may even help you decrease the liens on your property so both you and the company can have a bit more breathing room inasmuch as profits is concerned.
Here at Houston Capital Home Buyers, we help distressed homeowners with liens on the properties sell their houses as is and even provide judgment reduction assistance. Our goal is to make selling houses for distressed homeowners as easy as possible even if there’s a judgment against the property.
If you want to find out more about how we can be of assistance too distressed homeowners, feel free to call us at 713-581-9075, and we’ll be happy to work with you.
All the best,
Houston Capital Home Buyers
“We Don’t Buy Every House, But We Help Every Client”