QUESTION

I'm buying a home a few weeks before closing I found out there is a lein. Should I as a buyer pay the lein or back out?

Asked on Aug 12th, 2015 on Real Estate - Virginia
More details to this question:
Is there any recourse for my time and $450 I spent on the home inspection. I wasn't aware of the lien until the title company mentioned it.
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1 ANSWER

Under 99% of the contracts I see, the seller is obligated to give you clear title, which means no liens. The seller should pay off the lien; often it is deducted from the seller's proceeds at closing. If the lien exceeds the sales price, the parties can negotiate with the lienholder to see if  they will take less. 
Answered on Aug 13th, 2015 at 12:38 PM

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