Even if you have an issue with back taxes, it is still possible to sell a property affected by that overdue obligation. Regardless of whether your property is impacted by an IRS lien or a claim by a local government authority or other creditor, options do exist, and there are ways to get out from under your obligation. Our team possesses vast experience providing distressed Bay Area property owners with the solutions they need to sell homes subject to liens.
How to Sell Houses When Back Taxes Are Owed
Once a tax lien is placed by a taxing authority or another entity, the bottom line is that it must be paid eventually. Broadly speaking, liens of this nature will reach real estate and perhaps even other assets. The question of exactly how you can sell a house when a lien is in the mix remains, but the fact is that it really can be done.
The first thing to do is to carefully assess the total amount of outstanding taxes owed. That way, you will know whether a sale will likely produce enough proceeds to repay the debt in its totality. Often, a taxing authority will ask you to consider the tax obligation in comparison to the projected profits from the home sale. If you do ‘sell my house fast Bay Area‘ the house sale will likely result in an amount greater than the taxes owed, the transaction will probably be approved.
However, if you have a back tax debt, there may by a relatively small window of time available for you to avoid additional collection actions. These days, it takes an average of 68 days to sell a property on the conventional real estate market. But if you do not have the luxury of waiting that long because of IRS or other agency enforcement actions, you need an alternative solution, but may not know what that might be.
Fortunately, there is always the option of selling property to us, quickly, and for cash. We have a deep understanding of how stressful a back tax obligation can be, and we have an answer for those facing this type of difficulty. Our team has assisted countless property owners in getting out of scenarios of this sort, and we can do the same for you. Engaging in an as is sale of your property with us can get cash in your hands in less than 30 days, with some transactions even closing within roughly a week. In many cases, a Bay Area home seller can walk away with enough cash to repay their tax debt and still have money left over for additional expenses.
After you have received the proceeds from your sale, you can immediately pay your tax debt and enjoy real peace of mind. You will probably be required to complete release-of-lien paperwork so that the holder of the lien can sign off and indicate that the back tax debt has been satisfied. This is a critical step in clearing the tax lien on the property and claiming your fresh start.
We Purchase Bay Area Property Even With Back Taxes
No matter your personal circumstances and condition of the home or how much you owe in overdue taxes, we want to talk to you about your home. It is our policy to make very competitive cash offers for such properties, and every purchase is a cash transaction. Sellers like you need not worry that we will have trouble obtaining financing, or that you will need to invest in an inspection or make costly repairs before a deal can be done. It is our business to buy properties in all kinds of conditions, even those that conventional buyers may shun. If you would like to learn more about how Brothers Buy Homes do business or to begin the process of receiving a cash offer for your house, we urge you to give us a call today or fill out a fast cash offer form.
