For real estate purchasers, property liens present a very clear case of caveat emptor: “let the buyer beware.” A lien is an interest in a parcel of real estate that secures payment of a loan or other type of debt. A mortgage is a common example. If the debtor defaults, the lien holder may take steps to seize the property or to force a sale. In some cases, the lien holder takes no action and the lien persists until the owner attempts to sell the property, which is when trouble ensues. The Law Office of Tania Sayegh Bartolini, P.A. performs thorough searches to uncover liens and other encumbrances and takes decisive steps to cure problems that can derail real estate transactions.
There are numerous reasons why a lien might be put on a piece of property. Five common types are:
As an experienced real estate firm, we know how to do an exhaustive search for liens against real estate. If you are preparing to buy, we will act with due diligence and deliver reliable results.
Before you purchase a property, you should retain a capable, proven real estate lawyer to give you a title commitment and you should purchase title insurance and mortgage insurance that protects against undisclosed liens. A seller’s failure to disclose a lien may allow you to void the transaction, but getting back your down payment could require a protracted fight. I take preventive action to protect my clients from deals that may leave them out of pocket due to a seller’s withholding of information.
The Law Office of Tania Sayegh Bartolini, P.A. provides reliable legal services to help parties to real estate transaction deal with property liens in Fort Lauderdale and Broward County, Florida. To schedule a consultation, call 954-603-1865 or contact us online today.