I am purchasing a home but there is a lien on my land. A judgment was placed back in 2001 in the amount of $1800 but is now $5900, what is a reasonable settlement amount?
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I am purchasing a home but there is a lien on my land. A judgment was placed back in 2001 in the amount of $1800 but is now $5900, what is a reasonable settlement amount?
$5900! You reneged on a debt resulting in them having to sue you. Even after they obtained a judgment and placed a lien you still didn't pay. Now you can't sell your land until you satisfy the judgment. Do you really think they are going to settle? They have you completely over a barrel. There is no incentive at all for them to settle.
I doubt if they will accept anything less than the balance due in settlement. You can try offering 50% as a starting point, but don't be surprised if they refuse any offer less than the full balance.
I agree with ScottGem. I doubt if even offering a settlement will help. The judgement will have to be taken care of before the land can be sold. The time for offering a settlement has long past, letting it go this far was the wrong thing to do.Also that $5900 will just continue to rise until you stasify that judgement.
yes, if the lien is less than the value of the property, they may just wait till you sell and then get the money.
Again you may make a offer but after they have a lien, often that is too late to try and settle
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