Posted by JHyre in Ohio on June 09, 2003 at 21:58:35:
Did you know about the $150k in tax liens before getting involved? I’m surprised that the attorney didn’t catch it or allowed you to go forward. The can release the lien and will often do so for some partial payment. They don’t have to, but they might. If the liens linger, you’d have a cause of action against the seller…but that would be an expensive and annoying route.
John Hyre
contract for deed for a property with tax liens - Posted by Kimberly C.
Posted by Kimberly C. on June 09, 2003 at 19:38:52:
In November we purchased a house for 105,000 under contract for deed because we needed to better our credit before qualifying for a mortgage and the seller has tax liens due to a bad business and couldn’t sell outright. We went through an attorney and the contract for deed is recorded. My question is we want to refinance in November of this year. Will the IRS remove the lien in order for her to sell? She only has about 10,000 in equity in the house. She has about 150,000 in liens on the house. We love the house and don’t want to lose it but we want our own mortgage instead of paying the seller at 10% interest. Please help