We have a lien recorded on a property and just received a notice of an upcoming trustee sale. Have we missed our opportunity to collect on this balance? Will our balance/lien be paid by new ownership? Language in "notice of potential bidders" states buyer "is or may be responsible for paying off all liens", why is the language "may be"? In what cases would they not have to pay the liens against the property?
If your lien is valid, the lien has not expired, and your lien has priority over the lien that is the subject of the trustee's sale, you should be able to obtain payment to release your lien. You have 90 days after recording the lien to file a lien foreclosure action, or your lien will expire. Make sure you don't miss that deadline. You will also need to record a lis pendens in connection with your lien foreclosure lawsuit.