Home Buying in North Easton>Question Details

Brian Casey, Home Buyer in Brockton, MA

If a home has a conservation lien, is the buyer obligated to pay it? And if so, can the price be negotiated?

Asked by Brian Casey, Brockton, MA Fri Apr 19, 2013

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This question was asked from this property: http://www.trulia.com/property/3110216908-109-Rockland-St-No…

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3
Hi Brian

You want to get an answer from an attorney to be sure.
However, you may be asking about an order of conditions which is similar to a lien but is a type of restriction or requirement.


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0 votes Thank Flag Link Mon Apr 22, 2013
Typically liens need to be paid prior to closing.
0 votes Thank Flag Link Fri Apr 19, 2013
Brian - Great question. This is really a legal question, so I won't be providing any legal insight. However, at a high level any lien on a property "clouds" the title. A property cannot be transferred from one entity (seller) to another (buyer) with a clouded title. The lien would have to be resolved either by having it paid in full, negotiating the price down, or having it waived. The lien holder, in all cases noted, will need to sign a release and have it filed with the Registry of Deeds before closing. Please note that this is in the case of a purchase transaction where the buyer is obtaining financing from a lender. If the buyer is paying cash, the transaction can be "closed" yet the buyer would be taking on the responsibility of paying the lien and clearing the title.

For a full explanation, please consult a real estate attorney.

Good luck,
Ryan
0 votes Thank Flag Link Fri Apr 19, 2013
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