Short sale and state tax lien...how to handle? - Posted by Scott (ATL)

Real Estate Investing Real Estate Law
1

Posted by Bill H on October 12, 2003 at 20:29:50:

Scott:
Local state/county/city/etc., tax liens remain in full force and effect until paid with very few exceptions.
Your best bet might be to work out some payment schedule with the taxing agency. Some taxing agencies will work with you and some demand cash on the barrel head.
Like lots of other things in life…Try it…the worst that can happen is they say no.
The first may short sell but the tax lien…NO. Taxes pay for the operations of government.
However; if you can convince the first that they are in jeopardy as a result of the tax lien perhaps that would help. But, really you got slim to no chance to get the taxing agency to short sell or reduce the lien.

Good Luck,

Bill H

2

Short sale and state tax lien…how to handle? - Posted by Scott (ATL)

Posted by Scott (ATL) on October 12, 2003 at 20:07:35:

I have a lead on a foreclosure that also has an 8k state tax lien. Based on the amount rehab needed a short is the best way to go as they owe quite a bit in back payments and penalties not including the tax lien.

My question is if I was successful in shorting the 1st (they don?t have a 2nd) can I get the tax lien removed or shorted as well?

I?ve never tried a short before but I?m willing to learn so I may take a crack at this if I know what to do with the tax lien.

Any ideas?

Thanks,
Scott