"Contingent Lien-holder Release"...

General Real Estate Investing 10 Replies

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/Team Zen | http://www.solidrealestateadvice.com

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 | [email protected] | 678‑779‑2798 | http://www.AWcommercial.com

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.

haha! truth? I'm good with obfuscation (in more ways the one) but I did have to google-check the spelling for 'aficionado'.

i do loves me some wacky verbiage

Medium team zen logo vJean Bolger, 33 Zen Lane/Team Zen | http://www.solidrealestateadvice.com

Hehe @Jean Bolger you expect truth from a lawyer? Hey I have some ocean front property in Wyoming you are going to love!

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.

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....

And I'll be riding the rolling waves of I-25 up to Sheridan tomorrow, @Jerry W. I'll wave to you on the beach!

@Frank Uzzi that makes sense. It's really just a passing curiosity on my part, in this case. The property looks good, but not what I'm looking for right now

Medium team zen logo vJean Bolger, 33 Zen Lane/Team Zen | http://www.solidrealestateadvice.com

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 | https://generalrealestateacademy.com

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 | https://generalrealestateacademy.com