Top 3 House Liens Lansing MI When Buying a House for Michigan Home Owners

When buying a Lansing Michigan house, what types of things should you and your REMAX Dewitt MI real estate agent notice? There are 3 top important issues that might arise when buying a home. Your closing may be delayed if the title company needs to dig up old records to remove liens on the house. This takes time since they have to go back through public records from years ago. What are these three popular problems that occur? First, mechanic liens, which take place when a licensed contractor is hired by a home owner to do improvements and then he/she files a lien on the house to make sure his/her company gets paid. Once they do, then the lien is removed by the state. Some liens may eventually expire on a property but rules vary from state. Second, bankruptcies. For example, there may be an issue when a current homeowner buys a house when they're single and then gets married to someone who recently filed for bankruptcy. In this case, the title company needs to make sure both individuals sign the deed on the property which will allow bankruptcy to be removed. Third, divorce settlements. Have you heard of divorce liens? This occurs when a parent has paid in full for child support years ago and needs to inform the state so the lien can be lifted from the property. Also divorce cases can also cause a delay in case taxes were delinquent or not filed. Overall, before you buy the house, these problems need to be resolved and may delay the closing because they are very time consuming.

Sources to Read for Inspiration:

http://realtormag.realtor.org/daily-news/2016/06/21/title-issues-watch-out-for-closing?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+DailyRealEstateNews+%28Daily+Real+Estate+News%29
http://www.fullertonlaw.com/

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