Can you sell a house in Dallas that has title issues? If so how can you get it done?
While there may be fewer foreclosure sales today than there were a few years ago, title issues are still plaguing the real estate landscape, and many Dallas area property owners. Homes with title issues can be a severe source of stress for owners, and a minefield of risk for agents and buyers. What can be done to secure a quick house sale despite any of these problems?
I Need to Sell My House with Title Problems
The foreclosure crisis has left the property market littered with title and deed issues. In some cases this is past due property taxes, code violation liens, and mechanics liens. In others it is past divorces, inherited property quirks, or fraudulent claims to ownership. Sometimes properties have been sold, and resold (legally or illegally) with existing and latent title and deed problems. It all comes down to liens against the property which can require monetary remediation, or claims to rights and ownership which can be challenging to resolve.
Obviously most regular home buyers will be wise to steer well clear of properties with these problems. It’s just too risky to put their families into a property which they may not really entirely own or have the right to use, or which may result in big five and six figure surprise bills after they move in.
It is possible to sell your home, but there can be challenges. Most owners are either oblivious to the issues, or lack the resources to correct them. If you own a home in DFW, and need to sell fast, you may not have the extensive amounts of time, money, and skill it can take to cure these problems. In many scenarios it could take months, thousands of dollars, and a lot of learning and negotiating to get liens removed and obtain releases and satisfactions from those with potential claims. However, unless you can secure them any buyers who need mortgage financing will likely be stopped in their tracks as they cannot obtain title insurance or close until these things are fixed. Real estate agents also have to be very careful about marketing and selling properties like this so that they are not held liable for the financial loss buyers get hit with.
Who Will Buy My House With Title Problems
Selling a house with these challenges is possible. You can even sell your house fast. That is as long as you choose the right buyer. You don’t want to, and can’t try to pass of a flawed property onto someone else without them knowing. Even if you could, there could be severe legal and financial consequences later. You need to find a buyer who can either help fix the problems or is willing to take on the risk, and is capable of actually closing on your property.
Some Texas real estate investors do have the experience to deal with these problems. Some still have the cash to purchase homes without the need for financing contingencies. Seek them out and get help as early as possible.