When you sell to us, we pay the closing costs. Your liens are paid off from the sale at closing.
A lien is a legal claim against property that may affect title or the money due at closing. A payoff is the current amount and instructions the lender, creditor, or tax office provides to resolve what is owed. An older bill or letter may not show the amount needed now.
The lender, creditor, or County office holding the account confirms its current balance and payoff or release instructions. The title company checks ownership and recorded claims for this sale and works confirmed figures into the closing documents.
Closing costs are separate from a mortgage balance, lien payoff, back taxes, and your share of current property taxes. The closing-cost promise covers closing costs; the title company reviews the property-specific amounts and treatment.