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Updated over 3 years ago on . Most recent reply

User Stats

11
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2
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Allan A Ramirez
  • New to Real Estate
  • Houston, Tx
2
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11
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Liens with Private Lending

Allan A Ramirez
  • New to Real Estate
  • Houston, Tx
Posted

If a private lender is giving a loan for a home you want to purchase can they put a lien on that property? 

Most Popular Reply

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2,853
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Rick Pozos
  • Wholesaler, Rehabber and Landlord
  • San Antonio, TX
2,491
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2,853
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Rick Pozos
  • Wholesaler, Rehabber and Landlord
  • San Antonio, TX
Replied

They SHOULD put a lien on the property. I would NOT lend money without putting a mortgage, which is a lien. If you lent someone money and then they sold the house without telling you AND there was no lien, you might never get paid. When the house sells, the attorney or title company contacts the lender to get the payoff and makes sure that the lender is paid.

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