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The title search revealed an old lien on the property that we weren't aware of. We're concerned this will delay or even prevent the sale from closing.

Description du Problème

The title search revealed an old lien on the property that we weren't aware of. We're concerned this will delay or even prevent the sale from closing.
1
Sessions Publiques
10
Solutions Disponibles
4
Causes Identifiées

Solutions Recommandées

Solutions les plus pertinentes

10 solutions

Negotiate with Buyer

75%

Be prepared to negotiate with the buyer regarding repairs, credits, or adjustments to the sale price to keep the deal on track.

Review Purchase Agreement

75%

Carefully examine the purchase agreement, particularly clauses related to property condition and buyer contingencies, to understand your obligations.

Obtain Multiple Repair Quotes

75%

Get detailed quotes from reputable contractors for the necessary repairs to understand the total cost and compare it against your insurance payout.

Review Policy and Contact Insurer

75%

Thoroughly review your homeowner's insurance policy and discuss the damage with your insurance adjuster to understand coverage limits and deductibles.

Transparent Communication

75%

Proactively inform the buyer about the damage, the steps being taken to address it, and the insurance claim process. Offer to share insurance adjuster reports.

Prompt Repair and Documentation

75%

Immediately address and repair the storm damage, obtaining all necessary permits and documentation. Provide the buyer with proof of repairs.

Utilize a Centralized Communication Platform

75%

If possible, use a shared platform or email chain to document all communications and decisions, ensuring transparency and accountability.

Schedule Regular Status Update Calls

75%

Organize brief, frequent calls with all parties involved (agents, buyer, lender representative) to ensure everyone is informed and issues are addressed proactively.

Explore Alternative Lenders (Buyer's Responsibility)

75%

Advise the buyer to inquire about the possibility of switching to a different lender if the current one is consistently underperforming, though this is the buyer's decision.

Escalate with Lender Management

75%

Contact the loan officer's manager or a higher-level contact at the lending institution to inquire about the delay and request expedited processing.

Les scores de pertinence sont mis à jour au fur et à mesure que vous répondez à plus de questions

Questions Fréquemment Posées

Questions courantes liées à ce problème et à ses solutions.

What type of exterior damage occurred?

What is the primary reason for the buyer's paperwork issues?

What specific types of renovations are you planning for the property?

What is your target closing date for your current home?

What is the general nature of the repair requests?

What type of lien was discovered?

What is the visible extent of the mold growth in the basement?

What is the difference between the buyer's offer price and the appraised value?

What was the primary reason the lender provided for denying the loan?

What is the estimated cost of the foundation repairs?

Sessions de Diagnostic Démo

Explorez de vraies sessions de diagnostic pour ce problème avec différents scénarios et solutions.

Causes Identifiées

Unsatisfied Prior Mortgage

70%

A previous mortgage on the property was not properly satisfied or released in public records after it was paid off. This can happen due to administrative errors or oversight by the lender or title company.

Unpaid Property Taxes or Assessments

60%

The lien could be a result of unpaid property taxes, special assessments, or homeowner's association dues that have accrued over time. These often have a statutory priority.

Judgment Lien from Past Litigation

50%

A previous owner may have been involved in a lawsuit, resulting in a judgment lien placed against the property. This could be from a creditor, a divorce settlement, or other legal proceedings.

Mechanic's Lien or Other Contractor Lien

40%

A contractor or supplier who performed work or provided materials for the property and was not paid may have filed a mechanic's lien. This can sometimes be filed long after the work was completed.

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