2023 guide to buying a house and land package
If you’re an aspiring first home buyer or investor, you’re probably exploring all the ways you can achieve your dream of securing a home. You’ve probably heard about house and land packages, but...
 - https://sketchapp.com --%3e %3ctitle%3eIcon/search%3c/title%3e %3cdesc%3eCreated with Sketch.%3c/desc%3e %3cg id='Icon/search' stroke='none' stroke-width='1' fill='none' fill-rule='evenodd' stroke-linecap='round' stroke-linejoin='round'%3e %3ccircle id='Oval' stroke='%230FA857' cx='10.5145111' cy='10.5145111' r='6.99455261'%3e%3c/circle%3e %3cpath d='M15.4908752%2c15.4908752 L20.5515137%2c20.5515137' id='Line' stroke='%230FA857'%3e%3c/path%3e %3c/g%3e%3c/svg%3e){kind=small}
'%3e %3cg transform='translate(1016.000000%2c 1154.000000)'%3e %3cpath d='M3%2c8 L3%2c6 L21%2c6 L21%2c8 L3%2c8 Z M3%2c13 L3%2c11 L21%2c11 L21%2c13 L3%2c13 Z M3%2c18 L3%2c16 L21%2c16 L21%2c18 L3%2c18 Z' fill='%2300AB64' /%3e %3crect x='0' y='0' width='24' height='24' /%3e %3c/g%3e %3c/g%3e %3c/g%3e%3c/svg%3e){kind=small}
 - https://sketchapp.com --%3e %3ctitle%3eIcon/search%3c/title%3e %3cdesc%3eCreated with Sketch.%3c/desc%3e %3cg id='Icon/search' stroke='none' stroke-width='1' fill='none' fill-rule='evenodd' stroke-linecap='round' stroke-linejoin='round'%3e %3ccircle id='Oval' stroke='%23252525' cx='10.5145111' cy='10.5145111' r='6.99455261'%3e%3c/circle%3e %3cpath d='M15.4908752%2c15.4908752 L20.5515137%2c20.5515137' id='Line' stroke='%23252525'%3e%3c/path%3e %3c/g%3e%3c/svg%3e)
Lien
A lien is a legal right someone has over another person's property until a debt is repaid.
What is a lien?
A lien is a legal right someone has over another person's property until a debt is repaid. It ensures the lender can use the property as security if the debt isn't settled.
What is an example of a lien?
A common example of a lien in action is when you take out a mortgage to a house. The lender (eg. bank) would then have a lien on the house, giving them the right to foreclose on it if you fail to make your mortgage payments.
What kind of debts result in a lien?
Debts that result in a lien are typically those that are secured by collateral, such as real estate, vehicles, or other valuable assets. Common examples include:
- Mortgages
- Car loans
- Loans secured by personal property
What's your property worth in today's market?
Compare your property to recent sales in the area to get a current market estimate.
You might also be interested in
Home loan and mortgage exit fees when buying...
When you purchase a home, you pay a mortgage to a lender. What you may not know is that home loans often come with other fees attached. Some fees may be payable in advance. You may have to pay...
Costs of buying a house in NSW
Buying property in NSW and want to learn more about what costs to expect in the process?If you’re a first-time buyer, you may not know that there is a lot more to budget for than just the purchase...