Can I Sell My House With a Tax Lien?

The home-selling process is a stressful and challenging experience, even if there aren’t any additional challenges or obstacles. However, there are certain things that make the process of selling a home more complicated, and one of them is a tax lien. There are many homeowners who own properties with tax liens, and when they want to sell them, they think it is impossible. Fortunately, selling properties with tax liens is possible, and this can most easily be done with a Tampa cash home buyer. Here’s a little more information about the process.

A Tax Lien: What Is It?

If a homeowner is past due on their income taxes, the government makes a claim on their property called a tax lien. In other words, a tax lien can be defined as a debt for not paying taxes. Tax liens are easily searchable online and are often a red flag for potential buyers of a property. The length of a tax lien depends on certain factors, and in some cases, even foreclosure does not clear the lien. It can be difficult to handle a tax lien, but there are certain ways to do it.

Pay the Tax Lien at Closing

The easiest way to move forward is to pay your tax debt. Even if you do not have enough money to pay, there are still ways to do it. For example, you can talk to your real estate agent and ask them to wrap the cost of paying the tax debt into closing costs. However, there is one disadvantage of this method you should be aware of: it can cause a delay in the selling process.

Dispute the Lien

If you know that you do not have any tax debt with the IRS, you can always try to dispute the lien. However, you should understand that it is not an easy process, and dealing with the IRS can be quite stressful. Unfortunately, they will never go away if they believe you owe them money. There are three ways to communicate with the IRS: via mail, phone, or in person. The IRS does not communicate via email, so if you receive an email from them, you should try not to engage with it.

Talk to Experts

If you are thinking of selling a home with a lien on it, you can always talk to an expert who has experience in negotiations with entities and creditors that place tax liens on properties. They can also talk to the IRS and try to help you solve the problem. The mission of these experts is to help you get rid of your financial issues and set up a convenient payment plan. Moreover, experts can often convince the IRS that you will pay the debt off by using the money you will receive from selling your home.

Sell Your House Fast to a Home Investor

Many potential buyers consider a property with a tax lien problematic and do not want to deal with it. Therefore, selling your house with a lien the traditional way can be quite complicated. However, there is the option to sell your home fast to a home investor for cash. Home investors (also known as cash buyers) purchase all types of properties, including homes with tax liens, and they are ready to pay cash.KM Home Buyers is one of these companies serving clients in the Tampa Bay Area. We buy houses for cash and as-is, meaning that you do not have to make any changes, upgrades, or renovations. Selling your home to a home investor is a great sales method that allows you to avoid spending money on repairs, inspections, realtors, and other things associated with the home-selling process. If you have any questions about the company or process, feel free to contact KM Home Buyers. We buy houses all the time and are ready to assist you.