
Don't be discouraged from selling your house because you have liens, judgments or title problems.
While there are all types of liens that can prevent you as a property owner
from selling a property quickly, these are problems that can be easily
overcome with the right expertise. Some liens are more presiding over other forms of liens, but all when left unpaid, present both a temporary and permanent problem that will
eventually need to be resolved. When a tax lien has been exercised for
example, it usually causes your foreclosure process to proceed faster than a lien exercised by a lender. Maybe you have a lien from the Code Enforcement because your property was perhaps vandalized or is maybe now vacant.
If
you have unpaid back taxes and have not cooperated with the demands of the
IRS
to make the payments of the tax amount owed, it is likely that eventually you
will receive notice of a tax lien, which will later turn into a tax levy.
How does Uncle Sam shake you down? The
IRS will first send
you a letter with an assessment of your tax liability. This letter will
typically state the amount that is unpaid as well as late payment penalty and
interest. If the assessment letter is ignored, the
IRS will follow up with four
more letters, CP-501, CP-502, CP-503, and CP-504. These letters will get more
and more threatening as the numbers get higher. The final one of the CP letters
mentions it's intent to levy. After these letters are sent to the taxpayer and
there is no response or the tax amount is not paid, the IRS determines that they
are not able to collect the tax the conventional way, so the IRS will then file
a Notice of Federal Tax Lien (NFTL). Once you receive this tax lien, the lien
has already been attached to your property. The purpose of the tax lien is to
prevent you from selling or borrowing against any of the major assets that you
own. With a tax lien in place, it gives legal claim to the IRS over that piece
of property that the lien was placed and removes your rights to the property,
thus leaving you with an unfavorable, permanent disposition.
Moreover, tax liens are public records, so everyone will know your dilemma and
will aggravate you even further by sending you flyers, advertisements and offers
that will charge you an expensive price without any results.
Even if your mortgage
has been paid on time, you can still face a foreclosure. If a lien or unpaid balance has affected your property
creating a legal issue, the petitioning party has the right to attempt to collect what they are owed.
These can be sourced from your
Home Owners Association (HOA), an attorney filing suit against you, or a
third party looking to liquidate or seize your assets. In the event that a
lien holder does NOT
attempt to collect what is owed to them now, you will have to pay it later
on when you are considering selling your property. We can evaluate your
property and determine what course of action is best to resolve your
problem!
The best course
of action is to contact us and not wait until your problems are compounded or
finalized. Do NOT worry! We are experts at dealing with situations that involve liens and title problems! We can provide you with a free all cash-offer, and buy your property quickly ending your problem!
Contact Us today, and let us help you avoid a lien-catastrophe!
|