Posted by David on January 21, 2000 at 21:18:28:
The IRS is not real negotiable on the amount of the leins. There are other possibilities, for example if one spouse has the lien and the property is in joint married names the lien does not apply to this property.
Another tact would be to get a release of the lien from this property. Show them that there is not enough
equity to cover their debt. They don’t forgive the debt, the seller still owes the IRS, but they have released this property from the lein possibly for a small partial payment. It comes out of the seller’s proceeds and doesn’t cost you anything. Good Luck.
Clearing Federal Tax Liens - Posted by osirus
Posted by osirus on January 21, 2000 at 21:04:08:
Earlier today, my title company faxed me a preliminary title report for property I have under contract. The seller has 4 Federal Tax Liens and one Certified Final Judgement recorded against him. I was not able to get copies of the records yet since I received the title report after the recorders office closed; but I will do that first thing Monday morning.
Is it possible negotiate with the IRS about buying these liens for pennies on the dollar in exchange for a lien satisfaction? If so, who do I contact? How much of a expense could this potentially be?