Can You Sell A House With A Federal Tax Lien?
Having a home with a federal tax lien might make you think that it will be impossible to sell, but there is a process that can allow you to sell the house and get away from the mortgage and the lien. Everyone knows that you are not going to get out of paying a federal lien and for that reason homeowner’s feel trapped in a home that they can’t afford and that the government has an interest in as well. And most realtors are not even going to entertain a contract on a house with a lien. But a little research can provide you with a few options.
The most important piece of information you need to know is that the federal tax lien must be greater than the equity in the home for you to get a certificate of discharge. And it is that certificate of discharge that allows you to sell the home. But you need to work with the federal government to get it so plan on a long and arduous process. The IRS is the agency who you will need to work out the details with. In short, you are going to be jumping through a lot of hoops to get a piece of paper that allows you to sell the house with the tax lien. It is recommended that you speak to an accountant or a lawyer to assist you with the process so that you are certain it is completed correctly.
Your next challenge is to find a buyer for a house with a federal tax lien. One thing that almost every person has in common is that they are not willing to risk offending the IRS. Once you attract their attention, you could spend years trying to answer all of their questions and get them off of your back. So even once your home is listed, and the listing includes the information about the lien, there are not going to be many interested buyers.
Now you are wondering why you even went to the trouble of getting the certificate of discharge. But the answer is very simple. Higher Offer is a real estate investment firm who will buy your home even with a lien. We provide homeowners with a cash offer to buy any property in any condition, and that includes with a lien. We understand the meaning of a lien and the process that we must follow to clear the lien. Contact Higher Offer today and begin the process of eliminating both of your property issues at once.