A major obstacle to be tackled when considering properties for sale is the likelihood of a lien because they may hinder the right to sell a property and must be resolved to carry out any future investment plans.
Fort Lauderdale, FL -- (SBWIRE) -- 08/25/2020 -- A lien is a contractual claim by an entity or a corporation, to provide a simple meaning. It forbids the sale of the property before the person or organization receives their payments. A lien may be by choice (i.e., a customary mortgage) or involuntary, such a tax bill that has yet to be paid.
A simple method of figuring out if a property has a lien is to take advantage of online resources and browse county or clerk records for the name of the owner or the address of the property. There may also be the possibility of visiting one of these locations physically if circumstances permit. Another useful choice to look into is getting in touch with the title company.
A voluntary lien will usually not affect the title. The seller's debt is taken care of during the closing phase, and the lien is resolved. However, this may not always be the case.
About Monroe Funding Corporation
Monroe Funding Corporation is a direct equity lender serving clients throughout Central and South Florida, specializing in first mortgages on non-owner occupied residential and commercial property investments as well as real estate loan options. Our fast and flexible loan programs get clients to the closing table quickly and professionally. For more information on hard money lenders Miami or Orlando hard money lending, please call 954-816-0388 or fill out the application.