Can I Sell My House With a Tax Lien?
Even under normal circumstances, selling your home is a challenging and stressful experience. There might be other factors that make this process even more complicated, and one of them is a tax lien. Having a tax lien on a property is a common issue, and many homeowners do not care about it. However, if you decide to sell a home with a lien, it is going to be very hard, if not impossible.
What Is a Tax Lien?
A tax lien is defined as a claim by the government that is placed on the property if the taxes are not paid on time. It is easily accessed by the public and is often considered a red fag for prospective homebuyers. Tax liens can be different, and some of them cannot be cleared even after foreclosure. It is not easy to handle tax liens, but it is possible to do it when you are selling a home.
If you know you have a lien on your property, here is a list of things you can do.
Pay the Lien
One of the most effective ways of dealing with a tax lien is to pay it. Even if you do not have enough money to pay the lien right away, you can always discuss a possibility with your real estate agent to pay the lien at closing. You need to be prepared for this option’s main disadvantage: it often causes a delay in the closing process.
Dispute the Lien
There might be a situation where the previous owner has not paid taxes or never received the certificate to lift the lien. As a result, you carry this lien and are responsible for it. In this situation, you should contact the IRS and explain the situation. Unfortunately, it is not as easy as it seems to be. The IRS corresponds only in person, via phone calls, or by mail. The process of disputing may take months, but in many situations, it is worth waiting.
Consult Experts
If you are selling a home, and you know that there is a lien, you should get professional help from experts who know how to deal with entities and creditors that place liens on properties. The mission of an expert is to help you get rid of the financial burden that is caused by the lien. They will tell you what to do, what to say, and how to negotiate everything with the IRS.
Sell Your Property to a Cash Home Buyer
Do you have a lien on your property, and you want to sell your home as quickly as possible? Then, selling your home to a cash buyer is a good idea. There are many advantages of this method that many people do not know about. The main benefit is that the process is quite fast. Usually, the process of selling your home to a cash buyer does not take more than two weeks. In addition, by selling your home to a cash home buyer, you do not have to pay for any repairs or upgrades because you are selling the property as is.
Are you looking for a home buyer in Philadelphia? Then you have found one — We Buy Houses Philadelphia. If you need to sell your house fast, this is probably one of the best and most efficient ways. We purchase all types of properties, regardless of their age, condition, or any other issues. We also handle properties with tax liens. Therefore, if you have any questions about the process of selling a home to a cash buyer, or you want to know more about the company, feel free to contact us.