What occurs to a listing if it has a lien and is condemned?

When a property listing is condemned, it means that the property has been deemed uninhabitable or unsafe by the government, typically due to failing to meet certain building codes or standards. If there is a lien on the property, this signifies that there are claims against it, usually for unpaid debts related to the property.

In this scenario, when a property is condemned, the listing is effectively terminated because no suitable buyer would be interested in purchasing a property that cannot be used for its intended purpose. A condemnation typically results in the property being taken out of the market until the issues leading to the condemnation are addressed. The owner must resolve the situation to either rehabilitate the property or deal with the implications of the lien and condemnation status.

Other options, such as being sold immediately or being renegotiated, do not apply in the case of condemnation, as potential buyers would be dissuaded from engaging with a property that is considered unsafe. The property cannot be placed on hold either, as being condemned leads to a direct halt in its marketability. Thus, termination is the appropriate outcome of such circumstances.