Selling to buyers with tax liens? - Posted by David Alexander


#1

Posted by SCook85 on January 18, 1999 at 18:03:54:

David,
I just had this same question that I asked mortgage brokers the last 2 days. The answer is yes you can sell him the home.
He can qualify for a mortgage with the tax lien if he has established a history of making payments. The IRS will attach a lien to the property but it goes behind all other liens. So if you were the second mortgage holder they would go into 3rd position. I’m selling one to a guy and he has $20,000 in tax liens against him. I was told not to worry about it. As long as he make regular payments it is no problem.

SCook85


#2

Selling to buyers with tax liens? - Posted by David Alexander

Posted by David Alexander on January 18, 1999 at 17:42:50:

I had a gentleman just call me about a house for sale.
I took the house subject to in a trust. I plan on selling
the house to him on a Contract for Deed.

Problem? He has an IRS tax lien against him for 25,000
he said it was 400,000, but has paid it down and is working
with them to get it resolved.

Solution: Is there anything I should be afraid of, or anyway to keep the lien from attaching to the house I’m
selling. I was thinking that by selling to him on a Contract for Deed equitable interest would not be transferred and the house would stay
free the lien.

Buyer has the cash. I’m a wanter in this case because
I want to sell this house by Wednesday.

Talk to me. Paint me motivated to sell.
Should I be in fear.

David Alexander