When a buyer dreams of "home, sweet home," that dream doesn't include getting stuck with things like municipal liens, unpaid utilities or owed special assessment fees. It doesn't matter who you are-- one thing that unites us as human beings is a mutual hatred of unexpected costs. Here you can find out more about what a municipal lien search is.
That's why the answer to this frequently asked question is pretty simple.
You need a unrecorded municipal lien search because:
There are many debts previous owners may have incurred that, if ignored, will stay with that property and after closing, they become the new owner's responsibility. These debts, or fees, can be a result of:
- unpaid property taxes
- special assessments
- outstanding utilities
- open/expired permits
- code enforcement violations
Last week we talked about why a standard title search isn't enough. Buyers, their real estate agents, and their title agents need to demand a more thorough search to ensure buyers will hold the title free and clear.
There's nothing that could ruin the buying-process quite like finding out you owe money to the city or county a few years down the road for a problem you never knew existed.
You can request more information about getting a search from PropLogix here,
or if we're just preaching to the choir, you can order your lien search here.