loanmasterone
The seller would be informed of any liens against the property. The seller would be require to pay these liens before a sale transaction is complete. these funds would have to be supplied by the seller if they are proven not to be paid.
I hope this has been of some benefit to you, good luck.
"FIGHT ON"
David 14
Obviously.
Mike
The whole point of a title search is to reveal what liens there are on a property so the seller can get them released. He can't get them released if he doesn't know what they are.
curtisports2
Yes. Because the seller can't sell until those liens have been cleared up. If they were liens that existed before the seller took title, then the seller would be made whole by the title insurance policy the seller took out when they bought. If they are liens the seller created and is responsible for, the seller should know about them but they may not know, so full disclosure is required.
Jack
Sellers of residential real estate in every state in the U.S. are bound to disclose any information that materially affects the value of the home. This would includes liens on the property - - - as well as information about major repairs, insurance claims, noisy neighbors or air traffic..... anything. When in doubt: disclose it.
As a very practical matter, a lender will not make a loan if the property has a valid lien.