what will a lender do if a mechanics lien is recorded in teh middle of a short sale? can you pay it off at closing. the proceeds go to the lien holder not the seller or buyer
Well all liens have to be satisifed. That being said you can also nego. that lien as well. The best case for you would be to get that lien down to a very low price I assume that the Mech lien is in 3rd position or higer. See if you can’t get ahold of the lien holder and purchase the lien for 10 cents on the dollar and become that lien holder that will out you right in the middle of the deal. There is a risk involved if that property goes to sale you have to be able to redeem the other liens to regain your position in most States. Most of the time in a short sale position the Lien holder will take anything for there note. I have had them take as little as $10 bucks.
Remember: You don’t get what you deserve… You get what you Negotiate.