We can help you sell your property with tax liens in Atlanta so you can move on with your life!
If you are dealing with property tax problems, you might be worried about your ability to pay them back.
The consequences of not paying your taxes can result in losing your home if the problem is not taken care of.
What Happens if My Property Has a Tax Lien?
If there is a federal tax lien on your home, you must satisfy the lien before you can sell or refinance your home.
There are a number of options to satisfy the tax lien.
Normally, if you have equity in your property, the tax lien is paid (in part or in whole depending on the equity) out of the sales proceeds at the time of closing.
If the home is being sold for less than the lien amount, the taxpayer can request the IRS discharge the lien to allow for the completion of the sale.
Taxpayers or lenders also can ask that a federal tax lien is made secondary to the lending institution’s lien to allow for the refinancing or restructuring of a mortgage.
Understanding how a tax lien affects your property will help you make the best decision.
How to Pay Off Your Tax Liens
Are you wondering how to get rid of an IRS tax lien on your property?
The best and most obvious option is to pay them off.
But how do you do it if you are struggling to do pay them in the first place?
You can create a savings and repayment plan or work with your local property appraiser to try to get them lowered.
Create a Savings Plan to Pay Off Your Tax Lien
Sit down with a financial planner or someone who can help you take a good hard look at your finances.
A fresh perspective on your spending might be exactly what you need to pay off your debts.
Formulate a plan to save a set amount each month and use that to pay down the balance of your property taxes.
The county is unlikely to issue a tax lien if you are making regular payments to your outstanding balance.
Keep in mind, you will not only need to pay back the back taxes, but also the fees, penalties, and interest that have piled up.
Negotiate Your Property Tax Assessment
The first thing you need to do is to check the liens against your property.
Often times you can work with the property appraiser to have your property taxes lowered if you believe they have been assessed incorrectly.
You won’t be able to negotiate the rate of which you are taxed, however, you can negotiate the assessed value of your home.
Check to make sure they have the specs of your house notated correctly.
Don’t let them say you have 3 bathrooms when you really only have 2.5.
The assessor will look at other homes in your area and what they are selling for.
Sometimes you need to dive deeper into the numbers.
If you are going to challenge the value the assessor has placed on your home, make sure you have comparable houses to compare it to.
Find Someone To Help
Take Out a Loan to Pay Off Your Back Taxes
While it might not make sense to replace one debt with another, getting a tax loan from a private lender can provide temporary assistance should you be on the verge of having your tax lien auctioned.
Before you agree to the loan, make sure you read the fine print and understand the repayment terms.
The interest can be high and there can be severe penalties for nonpayment.
Before you find yourself in this situation, explore all of the options available to you.
Sell Your Property With Tax Liens
There are buyers and investors out there who are ready to help you right now!
Breyer Home Buyers is a professional homebuyer who will help you with tax liens or anything else that is keeping you from selling the property the traditional way.
You don’t have to sink more money into the house or toward your tax bill.
We will handle everything so you can sell the house and walk away from your property tax problems once and for all.
Keep in mind, not all buyers are the same.
When you work with Breyer Home Buyers, you can rest assured you will receive a fair price and honest treatment every step of the way.
Selling your house to a direct buyer is one of the best ways to stop the frustrations that arise from tax liens!