Buying Land? Make Sure the Property is Clear of Liens

When you’re buying land for sale in North Florida, whether it’s a timber tract or cattle land, the first thing you need to do is search for properties that don’t have any liens against them.

What is a Lien Against Property?

A lien against property is a notice attached to it. That notice is from a creditor, and in it, the creditor is claiming that the property owner owes it money. Liens are usually public records, filed with a county records office or with a state agency.

These property liens are pretty common – creditors often use them to collect debts.

They work because in order to sell or refinance a property, you must take care of all the liens against it. The property lien will show up in a title search, and in order to clear the title, you must pay off the lien. Sure, creditors sometimes have to wait years to collect – but it’s a sure-fire way to do so eventually.

How Can You Tell if a Property Has a Lien?

When a property changes hands, the parties need to go through a title search. The title search will turn up the lien – that means the person who is looking for anything attached to the property (called an encumbrance) will see it and let the buyer know.

In many cases, buyers won’t buy property with a lien attached – that would mean they’re taking on the prior homeowner’s debt.

What if the Land You Want Has a Lien?

You can talk to your real estate agent about the property lien and find out what you should do. In many cases, the seller will pay off the lien in order to sell his or her property.

Are You Buying a Home or Land for Sale in Lake City?

If you’re moving to Lake City, we can help you find the perfect place to live. Call us at 386-243-0124 to tell us what you want from your home and we will begin searching right away.

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