"Contingent Lien-holder Release"...

11 posts by 5 users

Medium 1399593804 avatar jeanbolger Jean Bolger
Investor/Broker Associate from Aurora, CO
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Jean Bolger

Investor/Broker Associate from Aurora, Colorado

Mar 13 '14, 05:39 PM


This was the description of a property's status in the mls listing. Is this the same as a short sale? Does it mean there's already an offer in? It's not a property I'm planning on jumping on, I'm just curious...



Medium team zen logo vJean Bolger, 33 Zen Lane
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Medium 1448323178 avatar blackbelt Joel Owens
Commercial Real Estate Broker from Canton, GA
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Joel Owens Verified Video Moderator

Commercial Real Estate Broker from Canton, Georgia

Mar 13 '14, 06:46 PM
2 votes


It sounds like a short sale. I have seen some brokers/agents use some really wacky verbage before. I guess it makes them feel important or something.

Who knows?? lol



Medium allworldrealtyJoel Owens, All World Realty
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Medium 1448388753 avatar jdwlaw Jerry W.
Investor from Thermopolis, WY
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Jerry W. Verified

Investor from Thermopolis, Wyoming

Mar 13 '14, 07:30 PM


Sounds like there are 2 confused parties to that listing, the one reading it and the one writing it :). Hmmm it doesn't seem clear to me, what is obfuscation? :)

HeHe actually I am impressed you could spell it.



No avatar medium Frank Uzzi
Real Estate Attorney from Montvale, NJ
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Frank Uzzi

Real Estate Attorney from Montvale, New Jersey

Mar 13 '14, 07:47 PM
1 vote


I would agree that this is just a fancy way to say it's a short sale. However, don't overlook the possibility that the word "contingent" may mean that the property is already under contract. So basically you can read this 2 ways:

1. This is a short sale that is contingent on the lien release.

2. This is a short sale that is already under contract and just waiting for approval.

Either way it's a short sale - you just need to find out if you are putting in an offer or a backup offer.



Frank Uzzi

Real Estate Attorney from Montvale, New Jersey

Mar 13 '14, 07:51 PM
1 vote


Originally posted by @Jerry W.:
Hehe @Jean Bolger you expect truth from a lawyer? Hey I have some ocean front property in Wyoming you are going to love!

There's a fine line between truth and fiction - we just blurr the line better than most....



Medium 1448386327 avatar financexaminer Bill Gulley
Investor, Entrepreneur, Educator from Springfield, MO
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Bill Gulley

Investor, Entrepreneur, Educator from Springfield, Missouri

Mar 13 '14, 08:14 PM
2 votes


And a third possibility, the price set/asked is based on an expected release of a lien paid, the lien holder may have up to 90 days to release, or it's a negotiated release on a second being paid. Not really a short sale per se, might have been accrued interest on a NPN that was dropped is paid.

Forth, any lien holder, a materials or labor lien from a past project to be paid or arranged to be paid.

Fifth possibility, some liens are forgiven by municipalities, partially paid, sewer liens, lawn cutting or clean ups can be negotiated and released.

Last that pops to mind, they could be talking about an IRS lien or state tax lien. These are often released to allow a sale with the tax payer still owing taxes. More likely than 3,4 &5.

And it sure sounds like a short sale too, LOL. :)



Medium logoscopiccroppedblue2Bill Gulley, General Real Estate Academy
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Bill Gulley

Investor, Entrepreneur, Educator from Springfield, Missouri

Mar 14 '14, 10:08 AM


Originally posted by @Jerry W.:
Sounds like there are 2 confused parties to that listing, the one reading it and the one writing it :). Hmmm it doesn't seem clear to me, what is obfuscation? :)

HeHe actually I am impressed you could spell it.

I may be an obfuscator, by convoluting the possibilities as in my prior post. :)



Medium logoscopiccroppedblue2Bill Gulley, General Real Estate Academy
Website: https://generalrealestateacademy.com


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