IRS Lien...... (OK toLease Option........... or not?) - Posted by Melvin

Posted by David Krulac on June 06, 2000 at 06:12:23:

you need to know the amount of the IRS lien as well as ALL other liens, judgements, taxes, water, sewer, trash if lienable and mortgages.
Once came across a $12,000 house, very basic and no plumbing, but the owner had a IRS lien for $1,500,000.00!

IRS Lien… (OK toLease Option… or not?) - Posted by Melvin

Posted by Melvin on June 05, 2000 at 19:32:42:

Is it ok to lease option a house from an owner that has an IRS Lien on it. I would think that if it is an encumbrance on the property that the seller would have to pay this money from the proceeds of the sale in order to get a clean marketable title. Am I correct by saying this? If so do they have to pay it before the sale or can this be satisfied at closing? Is there a delay in delivering title to my buyer, and if so how do I deal with this?

So if the numbers all work out would that be a good one to lease option or should I keep looking for something else. As it stands today all I have is an Option to Purchase this property. Hey who knows? anything is possible.