Prevent Surprises with Your Co-Buyer

Avoid surprises with your co-buyer by checking for tax liens, owe back child support or outstanding court judgements against them.
TS-83590759_hiring-c8964AB-shaking-hands_s4x3

TS-83590759_hiring-c8964AB-shaking-hands_s4x3

Home owner talking with contractor

Photo by: David Sacks

David Sacks

By: Tara-Nicholle Nelson

If you are buying a home with someone else, make sure they don't have any tax liens, owe back child support, or have outstanding court judgments against them. Right before escrow closes, the title company will search to make sure there's nothing out there, because any of those things can be recorded as a lien against your home, impacting your lender's interest in the property. Your lender will refuse to fund your mortgage until they've all been paid off. If they are large debts, this can mean that you'll have to either (a) buy the place alone, or (b) figure out how to come up with a bunch of cash to pay them off before you can get into your house. Prevent surprises, and check with your co-buyer on these things before you get into escrow. 

Keep Reading

Next Up

Real Estate Investing

Before you invest in real estate, it's important to look at carrying costs, closing costs, commissions and capital gains taxes. Here's why.

Real Estate Survival Guide: Seller's Checklist

Refer to this 10-step checklist to get you through the home-selling process.

Real Estate Survival Guide: Buyer's Checklist

Refer to this 10-step checklist to get you through the homebuying process.

Campus Cribs: Buying Real Estate Property for Your College Student

Buying a space for your student could turn out to be a great investment.

Six Ways to Prevent and Remove Weeds

Don't let weeds ruin your lawn and garden spaces. Learn how to kill weeds and prevent them from taking over your groundcover.

How to Prevent Invasive Plants

Prevent invasive plants in your garden and learn which plants to avoid growing altogether.

A Surprising Way to Banish Fruit Flies

Get rid of fruit flies by pouring them a nice glass of wine.

How to Refinish Hardwood Floors

With hardwood back in style, it might be worthwhile to check your floors. If your floor was among those treasures that were buried, we can help put it back on display with these tips to refinish hardwood.

On TV

Shop This Look

Found a living space you love in HGTV's Photo Library? Get the look in your own home with products from Wayfair.

Follow Us Everywhere

Join the party! Don't miss HGTV in your favorite social media feeds.