Discover how you can resolve the tax lien on your house with we buy houses Atlanta. This guide explains what a tax lien is and how to escape it as a home seller and a buyer.
After so many months of saving up a substantial amount of money, now you’ve done it by buying your dream house.
As you move forward with the home purchase, you realize something surprising: the house you’re in love with has a tax lien on it. You probe further and discover that the owners have defaulted in their property payment tax for years, causing an equal action from the IRS.
Now you’re happy to purchase the house, but stuck on what to do about the tax lien on the property, plus your real estate agent is nudging you to walk away from the property.
If you are faced with this similar situation, this guide helps you understand what a tax lien is and how we buy houses Atlanta to get rid of it. Keep reading to find a lasting solution to tax lien.
We buy houses Atlanta – What is a Tax Lien?
A lien is usually a claim of right to a piece of real estate or an asset to satisfy a debt. When a homeowner refuses to pay their property tax on their home, the government has the right to place a lien on the home. This is a method of collecting the tax debt back.
Both state and local governments are authorized to place a tax lien on a home. When a homeowner in Atlanta sells a house that has a tax lien on it, the lien remains with the property. Most real estate agents consider a tax lien as a massive red flag when dealing with sellers. And depending on how long the seller has defaulted on their payment, the tax lien can amass thousands of dollars.
You may be passionate about buying a house in Atlanta with a lien and have your real estate agent advise you to ignore the home sale. However, a tax lien on your dream house is not the end of the word. You can always have a tax attorney with a known track record on your side to help you resolve the situation.
Does Tax Lien Affect Home Purchase?
A tax lien can only start to affect the process of a home sale when you get to the final stage of the entire process. Most buyers are not aware of a tax lien on the purchased property until they make an application for a mortgage. At that point, the mortgage broker carries out an in-depth search to determine any form of debt on the property.
Most potential buyers would not proceed with a home sale process when they discover a tax lien on it, so sellers may have to agree on settling the debt with money realized from the sale.
Dealing with Tax Lien – Hire an Experienced Tax Attorney
Hiring an experienced tax attorney on your side during a home sale process can help handle a tax lien. If your choice house in Atlanta has a tax lien on it, you don’t have to automatically give up on it. When you work with an experienced tax attorney, you can always work out ways to lift the lien by obtaining a mortgage, and close on the deal.
If you have any trouble getting title insurance or you are puzzled about resolving a tax lien on an Atlanta house that you’re about to purchase, it is best that you get in touch with a tax attorney to help identify what to do.
Have You Got a Tax Lien on Your House? Let us Help You Out
Do you have a tax lien on your Atlanta home and need quick cash to resolve it? We buy houses Atlanta for a fair and competitive price that allows you to sell your house quickly before amassing a huge lien on your property.
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