Are There Any Liens on Your Home?

If you have any liens, fines, code violations or other clouds on your homes title, you need to see if they can be removed or negotiated immediately. In many cases if you don't address these liens immediately, the short sale will fall apart even before it has started.

Any liens found on your title you should immediately call the person or company with the lien to see if they will negotiate a reduction with you.

There is a good chance that you can negotiate these so that the lien holders get something rather than nothing. If you do negotiate a reduction in lien- GET A LETTER FROM THE LIEN HOLDER FOR THE AMOUNT THEY ARE WILLING TO ACCEPT, you will need to give this to your CDPE Realtor.

A tactic you might want to use with a lien holder is to sign a note for a portion of the lien so that it can be removed from the property and placed on you personally.

In all cases with a short sale you need to do whatever possible to reduce all liens prior to submitting a offer packet to the lender.