Sometimes when a seller goes to transfer their home they get an unwelcome surprise: mystery liens. Its possible that some home sellers may have liens against their property they may not even be aware of. Most purchase agreements allow the seller up to 30 days to clear up liens against the property that they might not know anything about. The DiMora Team are real estate experts in the Northville and Novi neighborhoods and we have seen where the homeowners had paid off their mortgage but there was a lien against the property for a line of credit they never even used and didn’t know was there. This situation could have easily delayed the closing adding additional hardships for both buyer and seller. It can take up to two weeks to “close out” a equity line of credit even if there is a zero balance. In this age of hyper-vigilant banking practices most lenders want extra time to make sure you didn’t make some last minute purchases using your line of credit after you sold the house. Check out below to see an active listing in Northville Hills Golf Club in February 2016:
16045 Cog Hill Drive, Northville: 4 bedrooms, 2.1 bathrooms, 3,532 sq. feet, 3 car garage, Listed Price: $650,000
Northville Hills Golf Club Active Listing
February 2016
If you’re thinking about selling and you think you don’t owe your mortgage lender any money it might be to your advantage to sit down with your local branch manager and make sure. For more information on Northville Hills Golf Club, or similar Northville or Novi neighborhoods such as Autumn Park, Pheasant Hills and Steeplechase, contact The DiMora Team today at 248-505-7728 or jim@dimora.com.