2007-03-21 08:00:44 · 4 answers · asked by sandrairizarry 1 in Business & Finance ➔ Renting & Real Estate
As long as you get enough from the sale to pay off all the liens, you can do it and it is generally the smartest thing to do if possible. You will be required to pay off all liens associated withthe property in order to close on the home.
2007-03-21 08:04:30 · answer #1 · answered by flamingojohn 4 · 0⤊ 0⤋
Absolutely. The first tip I would give you is to get a preliminary lien search so that you are sure exactly what liens are on the property. You can get this from any title company or use an online resource that provides lien searches, such as Lienfax.Com (http://www.lienfax.com). Once you have the report, contact each lien holder for a payoff amount. Then simply add the liens and the estimated closing costs and list the home for enough to cover those outstanding liens. If you still have equity, you can still cash out at the close of escrow if even you are in foreclosure.
2007-03-24 19:28:58 · answer #2 · answered by Pro Home Buyer 2 · 0⤊ 0⤋
Not if there is a lien attached.
2007-03-21 15:03:36 · answer #3 · answered by ladywildfireok 3 · 0⤊ 0⤋
as long as the transfer price can pay of the notes if not you do not have clear title to transfer
2007-03-21 15:04:13 · answer #4 · answered by goz1111 7 · 0⤊ 0⤋